Telynx, Inc. Issues Letter to Shareholders


SHERMAN OAKS, Calif., March 8, 2005 (PRIMEZONE) -- On behalf of the Board of Directors, Paul Mataras, CEO of Telynx, Inc. (Pink Sheets:TLYN), has posted an open letter to shareholders via the corporate website. Telynx designs software products and related services for telecommunications service providers. The letter appears here in its entirety.


 From: CEO Paul Mataras
 Date: March 8, 2005

 Dear Valued Shareholders:

March 30th, 2004, was a landmark date in the evolution of Telynx Inc. On that day our management team formally acquired the Company and saved it from certain and inevitable bankruptcy. Prior to that date, the Company was dormant for over a year due to the fact that the previous management failed to secure funding to continue operations.

During the course of our acquisition, we realized that there were several issues that needed to be addressed in order to put Telynx back on track. The following is a list of the tasks that we have completed, or are in the process of completing, that should ultimately help transform the Company into a profitable enterprise:


 -- We began by moving the Company's offices from El Paso
    to California.

 -- The share structure being both unwieldy (the Company had
    over 352 million shares issued and outstanding) and
    vulnerable to attack by unscrupulous entities, we executed
    a reverse a split of 1 for 10 and changed the ticker symbol.
    In addition, a certificate exchange program was instituted
    to ensure that there were no authorized certificates
    in circulation.

 -- As part of our latest marketing survey, previous clients
    and partners including Hewlett Packard Co., Cisco Systems,
    etc. were contacted and we re-established relationships
    with these key customers.

 -- In conjunction with data gathered from the marketing team,
    the inventory management software, a fundamental corporate
    asset, was formally evaluated. A team of designers was
    formed to update and upgrade the software to meet current
    market needs.

 -- We hired XXR Consulting to assist the Company in increasing
    its market awareness and raising its profile in the
    investment community.

 -- A new Research and Development center was opened to develop
    the Company's new products.

 -- A team of engineers was secured to write the software code.

 -- We signed a seven-year Software Service contract with HP
    for Egypt Telecom.

 -- The Company is currently working with its attorney to bring
    all of its SEC filings current. We are also in the process
    of setting up an independent auditing body.

 -- The Company is in the process of filing all past tax
    returns to bring its filings up to date with the IRS.
    We have retained Tarlson & Associates, Certified Public
    Accountants in San Francisco, to perform this task.

 -- The Company is also in the process of clearing the
    outstanding balance with the IRS that was owed by the
    Company from previous years.

 -- Most of the debts that appear on the corporate financial
    statements have been resolved. The majority of them were
    discharged due to accounting errors by previous management;
    some were settled; others are in the process of being
    negotiated.

 -- Your new management team values nothing more highly than
    its employees, whose livelihood depends on our best efforts
    to look after the health and welfare of the corporation.
    Because it was poorly conceived and obviously mishandled,
    the 401(k) plan was terminated. Under a settlement reached
    with the labor department, more than 95% of the funds has
    been paid and distributed to its participants.

 -- Upon completion of all necessary accounting, legal and
    regulatory tasks, the Company anticipates that it will be
    listed on the OTC Bulletin Board.

 -- For reasons recently announced, we have retained Equitilink
    to continue our ongoing investor relations efforts.

 -- Management has set a goal to roll out the Company's latest
    product at the start of the third quarter. Barring unforeseen
    circumstances, the logistics team currently forecasts
    completing the project on or before schedule.

In summary, since we have acquired the Company we have been focused on clearing up all the issues and correcting all the mistakes made by previous management, who led the Company into dire financial straits. It is hereafter the intention of current management to develop the best possible product that will allow Telynx, Inc. to emerge as a strong competitor in the OSS business.

We want to thank all of you for believing in the Company during this most challenging period. The Company has gone through a number of changes; we had to make many hard decisions, but through it all we have continued to put the Company--and our shareholders' interests--first. Currently, we are well-positioned to develop and market leading-edge products that will create significant shareholder value and transform Telynx into a profitable and formidable force in the OSS market.

Safe Harbor Statement

This release contains forward-looking statements with respect to the results of operations and business of Telynx, Inc., which involves risks and uncertainties. The Company's actual future results could materially differ from those discussed. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward looking statements be subject to the "Safe Harbors" provision of the Private Securities Litigation Reform Act of 1995.



            

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