SOURCE: AccessKey IP, Inc.

December 13, 2007 14:58 ET

/ CORRECTION - AccessKey IP, Inc. Announces Plans to Spin-Off Retail Sales Subsidiary TeknoCreations

ALBUQUERQUE, NM--(Marketwire - December 13, 2007) - In the news release, "AccessKey IP, Inc. Announces Plans to Spin-Off Retail Sales Subsidiary TeknoCreations," issued earlier today by AccessKey IP, Inc. (PINKSHEETS: AKYI), we are advised by the company that the second paragraph has numerous corrections from what was originally issued. Complete corrected text follows.

AccessKey IP, Inc. Announces Plans to Spin-Off Retail Sales Subsidiary TeknoCreations

ALBUQUERQUE, NM -- December 13, 2007-- AccessKey IP, Inc. (PINKSHEETS: AKYI) today announced that its Board of Directors has unanimously agreed to spin-off its wholly owned subsidiary, TeknoCreations, into an independent, publicly traded company. It is expected that this new entity will be trading sometime in early 2008. TeknoCreations was founded to participate in the explosive growth of consumer electronics and business security needs. TeknoCreations designs high-quality products with attractive pricing to enhance the consumer's favorite electronics products and the expanding security needs of corporate America. They have developed a wireless remote control for iPods as well as inductive charging units for both Nintendo's Wii and Microsoft's XBox 360. The focus of the company will be to sell products wholesale; through Distributors and direct to Retailers, Etailers and DMRs (Direct Market Retailers).

According to George Stevens, CEO of AccessKey IP, "The independence of TeknoCreations will achieve three main objectives: 1) a greater focus of existing resources within AccessKey IP to design and develop products, 2) a dedicated sales organization in TeknoCreations that will focus exclusively on promoting consumer electronics and security products in the retail market, while at the same time purchasing both finished product and technologies from AccessKey IP, and 3) the ability to raise capital in the investment community for both companies to properly promote their respective business plans. We are giving particular attention to the capital structure of the new entity in order to ensure that AccessKey IP shareholders receive appropriate value in TeknoCreations. We are very excited about this opportunity and we will provide more information as this transaction progresses."

About AccessKey IP, Inc.

AccessKey IP, Inc. is a developer of cutting-edge technologies and best-of-breed products tailored to address the market opportunities created by the explosive growth of digital communications, entertainment-related services and specific consumer electronics platforms. AccessKey IP's patented technologies provide complete access to the coveted "Triple Play" Set Top Box (voice, video and data) and "Quadruple Play" Set Top Box (voice, video, data and wireless) through cable, telecom, satellite and broadband service providers. The Company's AccessKey Home™ and portable flash drive-sized AccessKey PC™ allow subscribers to "channel surf" streaming "HD Quality" television content (IPtv), navigate the internet, watch Video on Demand (VOD) offerings, play video or internet-based games, listen to music, make phone calls (VoIP), video conference, run a full array of computing applications, securely store data and more, all from a single device and service provider network.

Forward-Looking Statements

This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of AccessKey IP, Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

Contact Information

  • FOR INVESTOR INQUIRIES:
    Please visit the Company's website www.accesskeyip.com
    or contact:
    Bruce Palmer
    310-734-4254
    AccessKey IP, Inc.