3P Networks, Inc.
PINK SHEETS : TPNW

3P Networks, Inc.

October 23, 2006 19:34 ET

3P Networks Inc. Continues to Expand and Adds Depth to Management and Directors

Terminates Proposed Acquisition of Data Fortress Systems Group Ltd.

VANCOUVER, BRITISH COLUMBIA and LOS ANGELES, CALIFORNIA--(CCNMatthews - Oct. 23, 2006) - 3P Networks Inc. (PINK SHEETS:TPNW) an emerging global provider of integrated telecommunications services offering IPTV, Voice and Data (triple play telecommunications) services, for the multi-family dwelling (MDU), hotel, resort and health care markets. The Company is pleased to announce the appointment of Harj Panesar to Chief Technology Officer, David Alexander, as Chief Financial Officer and Director, and Martin Palacios as Advisor to the Board of the Company.

The management additions include:

Harj Panesar, Chief Technology Officer is an industry veteran with over 18 years of IT experience delivering custom-tailored accounting solutions, software development and systems integration. He is a specialist in the Immersive 360 Multimedia technologies as a director of R&D for Syntecor 2000-02, a company that provided membership orientated software solutions for the club, resort and stadium markets. He was directly involved in the integration of Computer Associates - Masterpiece system as an ASP offering to their global customers. He has successfully assisted clients such as IKEA, LifeScan (a Johnson and Johnson Company) and Coca-Cola with accounting systems integration with Computer Associates and other third-party developers. His assignment at 3P Networks is to build an implementation team for the MDU division, and coordinate, outsource and develop technologies for the seamless integration of 3P Networks triple-play (video, voice and data) solution.

David Alexander, CA, Chief Financial Officer & Director has been the CFO of various public and private companies. He has been instrumental in raising over $50 million in capital over the last 10 years. Apart from his financial skills, Mr. Alexander also brings to 3P Networks considerable experience in managing companies with diverse business and geographic interests in emerging markets. His experience also includes compliance and reporting for NASDAQ traded companies and SEC requirements. Mr. Alexander holds an Honors degree in Commerce-Finance from the University of British Columbia.

Martin Palacios, MBA, CMC, Member of the Advisory Board, is a senior executive with 17+ years of general, IT, Healthcare and high-tech management leadership experience, including mergers and acquisitions, strategic and operational planning, turn around and divestitures. He specializes in the design, planning, implementation and operations of global, scalable, high-tech business infrastructures. Martin is an advisor to the Jimmy Pattision group, specifically The News Group and Jimmy Pattison Leasing. Prior to this role, he was a senior manager in KPMG's Advisory Services, as western practice leader - Operations Improvement and Information Technology Effectiveness based in Vancouver. As the former CIO of Pivotal Software, Martin was responsible for Pivotal's worldwide technology infrastructure, corporate information and internal business systems. Martin was also the Director of Information Technology for Seagate Software (now Veritas Software), Network & Storage Management Group. Martin holds an MBA in executive leadership and Knowledge Management from Royal Roads University in Victoria, BC and is a Certified Management Consultant (CMC).

The Company also announces that it has decided to terminate its proposed acquisition of a controlling interest in Data Fortress Systems Group Ltd., of Vancouver, B.C., as previously announced on October 17th 2006. This move is due to unsatisfactory findings during the due diligence process and a delay in resolving some regulatory issues relating to the target company. Management hopes that this potential acquisition can be re-visited in the near future.

About 3P Networks

3P Networks www.3pnetworks.com is a complete end-to-end communications solutions provider offering services to multi-unit environments such as hotels, resorts, apartment buildings, condominiums, planned communities and healthcare suites where it is possible to acquire large clusters of subscribers in multi-year contracts on a cost effective basis. Our building-centric model is expected to achieve economies of scale within each property that will allow 3P Networks to offer many services per customer at an infrastructure cost and monthly price point that cannot be offered in other environments.

Certain statements in this document constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of 3P Networks Inc. ("the Company"), or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its plan of operations when needed; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors.


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