SHERMAN OAKS, Calif., Jan. 19, 2005 (PRIMEZONE) -- Telynx, Inc. (Pink Sheets:TLYN), a provider of network inventory management and provisioning software solutions to major telecommunications service providers, today provided further details on its software development project. The project's goal is to develop the most flexible and intelligent Inventory Management and Provisioning Software in the market today. Project personnel include two Project Designers working in San Francisco whose responsibilities are to design the infrastructure and framework of the product. The software code is being developed by the Company's team of engineers located in TLYN's Research and Development Center in Northern Israel. At present, the team consists of three engineers and it is the Company's intention to hire additional engineers as needed to meet production requirements. The design phase of the project has been in progress since June 2004 and should be finalized in a month. It will take 3 to 4 months for the code to be completed and 2 months for testing.
CEO Paul Mataras stated: "Based on our timeline as outlined above, we expect the software to be ready for commercialization by the end of the second quarter of 2005. We are confident that this new software will be a market leader in the $3 billion Inventory Management space. We will continue to keep investors well informed of our progress in this major software development project."
Telynx, Inc. is pleased to announce that a letter to shareholders will be released in short order to inform investors of all the changes that were instituted last year to put the Company back on track. The letter will also discuss the Company's plans to generate revenue to maximize shareholder value.
About Telynx Inc.
Telynx Inc. designs and markets a line of software products and related services to telecommunications service providers. Telynx's software is designed to track inventory, provide new telecommunications services and provide a tool for managing network bandwidth. The company's software complies and supports the Tele-Management forum, OSS/J, 3GPP and 3GPP2 initiatives for all of its products. Its mission is to deliver an end-to-end product and solution set that directly impacts its customers' cost of providing a wide range of complex quality services in a timely fashion.
For more information please contact Curt Kramer at (516) 498-9890 or visit the Company website at www.telynx.net.
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.