Prestige Telecom Inc.

Prestige Telecom Inc.

November 28, 2007 17:28 ET

Prestige Telecom Completes Announces Graduation to Tier 1

MONTREAL, QUEBEC--(Marketwire - Nov. 28, 2007) - Prestige Telecom Inc. (the "Company" or "Prestige Telecom") (TSX VENTURE:PR) is pleased to announce that it graduated from Tier 2 to become a Tier 1 issuer on the TSX Venture Exchange Inc. effective October 30, 2007. In accordance with the terms of the Company's Form 5D Value Escrow Agreement and Modified Form 5D Value Escrow Agreement, each dated effective July 30, 2007, 15% of the number of common shares ("Shares") held in escrow will be released following the issuance of this press release, and 25% of the remaining Shares held in escrow will be released every six months after August 9, 2007, which is the date on which the TSX Venture Exchange Inc. issued its final notice of acceptance of the Company's Qualifying Transaction.

About Prestige Telecom

Prestige Telecom is a leading provider of network engineering, materials furnishing, installation and support services (commonly referred to as EF&I services) required to construct, operate and maintain wireline, wireless and cable television networks. Prestige Telecom assists telecommunications original equipment manufacturers ("OEM") and service providers to engineer, install and upgrade their infrastructures to support enhanced voice, high speed data and video services.

In Canada, Prestige Telecom operates from three full service locations based in Montreal, Quebec; Toronto, Ontario and Calgary, Alberta and has 350 professional and technical personnel. Prestige Telecom operates in the United States market through a mutual subcontractor agreement with Comforce Telecom Inc. under the trade name Prestige Comforce Professional Services ("PCPS"). PCPS is based in Plano, Texas and provides services to customers throughout the United States.

To learn more about Prestige Telecom, please visit our website at

The TSX Venture Exchange Inc. has in no way passed upon the merits of and has neither approved nor disapproved the contents of this press release.

Contact Information

  • Prestige Telecom Inc.
    Pierre Yves Methot
    Chairman and Chief Executive Officer
    (514) 457-4488 ext. 277