MONTREAL, June 23, 2005 (PRIMEZONE) -- TelePlus Enterprises, Inc. (OTCBB:TLPE) (http://www.teleplus.ca), a vertically integrated provider of wireless and landline communications products and services across North America, is pleased to announce today its subsidiary TelePlus Connect Corp. ("TelePlus Connect"), which operates the Company's prepaid telecom division, continues to outperform posting positive earnings (before depreciation, amortization and taxes) ("EBITDA") of $48k for the month of May.
EBITDA RESULTS EXCEED EXPECTATIONS
TelePlus Connect was created following the acquisition of Keda Consulting ("Keda") and Freedom Phone Lines ("Freedom") in April. Original forecasts called for early EBITDA resulting from the Freedom acquisition to reach $300k per annum. Both April and May results indicate annualized EBITDA to reach in excess of $500k without considering any impacts resulting from organic growth or the recent closing of the Avenue acquisition which is anticipated to increase EBITDA by $200k per year. The TelePlus Connect business plan calls for the company to pick up $112M in revenue and $28M in EBITDA over the next 60 months.
TWO MORE ACQUISITIONS TO INCREASE REVENUES BY $17.4M AND EBITDA BY $2.6M
TelePlus announced two other acquisitions in the last 90 days which are to be integrated to its TelePlus Connect subsidiary. These acquisitions are expected to increase TelePlus' revenues an additional $17.4M and contribute in excess of $2.6M to its EBITDA.
Marius Silvasan, CEO of TelePlus Enterprises, stated, "We are very pleased with the performance of our Prepaid Telecom business since the beginning of the year. We continue to grow our business while providing value to our shareholders. EBITDA results are higher than our original expectations. We are diligently working at the completion of the due diligence of our other pending acquisitions in this space and anticipate reporting positive announcements to our shareholders in the short term," added Silvasan.
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This press release is available on the company's official on-line investor relations site for investor commentary, feedback and questions. Investors are asked to visit http://www.agoracom.com/ir/teleplus. Alternatively, investors are asked to e-mail all questions and correspondence to TLPE@agoracom.com where they can also request addition to the TelePlus investor e-mail list to receive all future press releases and updates directly.
About TelePlus http://www.teleplus.ca
TelePlus Enterprises, Inc. ("TelePlus") is a vertically integrated provider of wireless and landline products and services across North America. The Company's retail division -- TelePlus Retail Services, Inc. -- owns and operates a national chain of TelePlus branded stores in major shopping malls, selling a comprehensive line of wireless and portable communication devices. TelePlus Wireless, Corp. operates a virtual wireless network selling cellular network access to distributors in the United States. TelePlus Connect, Corp. is a reseller of landline and long distance services including internet services.
The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development and acquisition of new product lines and services, government approval processes, the impact of competitive products or pricing a technological changes, the effect of economic conditions and other uncertainties, and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on Form 8-K. TelePlus Enterprises, Inc. takes no obligation to update or correct forward-looking statements.