Amitelo Communications, Inc. Announces Today That Its Board of Directors Decided Not to Pursue a Reverse Stock Split


MALAGA, Spain, June 8, 2004 (PRIMEZONE) -- Amitelo Communications, Inc. (Pink Sheets:ALOC) announces today that its Board of Directors decided not to pursue the contemplated reverse stock split as a capital restructuring measure for Amitelo. Amitelo is contemplating other options and effective alternatives to assist in reaching a higher price per share and pave the way for the planned acquisitions and the realization of its international VoIP projects / networks.

"I firmly believe that the market will positively react as a result of our operational success and as soon as we begin our financial audits for the purpose of becoming a fully reporting company and moving up to a higher trading venue," stated Khaled Akid, Chairman & CEO of Amitelo Communications, Inc.

He concluded: "The reverse stock split is definitely not the ideal direction of the company at the present time to rectify the current market situation and the company is considering other alternatives presented to assist in achieving our companies objectives. A reverse stock split may be considered at a later date after all other avenues have been exhausted."

About Amitelo Communications, Inc.

Amitelo Communications Inc. is an international telecommunications and Internet service provider company. Amitelo`s core business is dealing with the delivery of high quality voice & Internet services. The companies concentration is on providing both VoIP Voice over IP services and DSL / Broadband via Satellite in regions lacking connectivity. Several parts of southern Europe, many regions in Africa and the Middle East currently lack connectivity. The company is currently dealing with Internet & Voice traffic generated by its international subscribers and is in the process of expanding its services by establishing further POP Points of Presence throughout Africa and the Middle East. The company's Management brings over 70 years of combined experience in almost all aspects of Information Technology and Telecom.

Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation reform Act of 1995.

Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, but not limited to, continued acceptance of the company's products and services, competition, new products and technological changes, as well as any and all "other risks" associated with business.


            

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