VANCOUVER, British Columbia, July 7, 2004 (PRIMEZONE) -- VoIPMDU.COM (Pink Sheets:VPMD) today announced that it is now completing a proposal to a company co-based in San Diego and Hanoi, Vietnam to provide VoIP telephony services to more than 400,000 Vietnamese Americans living in the greater Los Angeles area.
Originally announced in September 25th, 2003, (See Press Release dated the same day, "Company Commences Beta Testing....") VoIPMDU.COM's venture partner holds a current license to provide telephone call termination into Vietnam. The Company is now completing the terms of the proposed agreement, as well as scheduling and budgeting for the provision of VoIP services through an existing gateway network, which will access its users to savings of up to 70% on regular long distance rates. VoIPMDU.COM successfully completed beta testing of the system during the latter part of 2003 and is estimating that initially, 3 million long distance minutes per month will be terminated in Ho Chi Minh City and Hanoi.
"Our Vietnam proposal to our joint venture partner is just the first step into one of the fast growing economies in the world," stated Richard Kipping, Chairman and CEO of VoIPMDU.COM. The Company's partner has over 10,000 business users in Vietnam, including 600 Internet Cafes, universities, hotels and small businesses searching for efficient VoIP telephony solutions. The Company expects to complete the first stage of its Vietnam proposal in ten days.
VoIPMDU.COM (www.voipmdu.com) is a broadband VoIP telecom company offering local and long distance VoIP services and video on demand to consumers, business owners and multiple dwelling unit buildings. The Company provides turnkey solutions for all of its voice/video/data applications including a state-of-the-art billing platform. For more information, please call Richard Kipping at (604) 723-8750 or email at info@voipmdu.com.
SAFE HARBOR:
This news release may include forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities and Exchange Act of 1934, as amended, with respect to achieving corporate objectives, developing additional project interests, the Company's analysis of opportunities in the acquisition and development of various project interests and certain other matters. These statements are made under the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements herein.