NEWPORT BEACH, Calif., April 19, 2000 (PRIMEZONE) -- Presidents Telecom Inc. (OTCBB:PRTE) is pleased to announce today that in accordance with its central focus on VoIP and next generation digital telecommunication technology, the company's Board of Directors has voted to change its name to VoIP Telecom Inc. effective immediately.
VoIP Telecom Inc. recently announced its entry into Telecommunication and VoIP via two proposed acquisitions - Access Network's Ltd and International Communication & Equipment Corp., of Seattle, Washington (ICE).
VoIP Telecom Inc. is focused on the deployment of worldwide digital, voice and data via VoIP, fiber optic, Internet circuit , satellite and public switched telephone networks. VoIP Telecom's strategic vision is to build a leading consortium of the highest quality Voice over Internet Protocol networks and a significant world wide market share of long distance traffic.
VoIP based networks are lower cost alternatives to the traditional LD calling solutions. According to Gartner Group's Dataquest (NYSE:IT) - Global Voice-over-Packet Services Market will Grow to $87 Billion by 2004 and Retail VoIP Services are to Boom from $443 Million in 1999 to $19 Billion in 2004.
Statements regarding financial matters in this press release other than historical facts are "forward looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. 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 created thereby. Since these statements (future operational results and sales) involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results.