August 03, 2006 11:50 ET

eTelcharge President David Young Addresses Company's Progress and Status

DESOTO, TX -- (MARKET WIRE) -- August 3, 2006 --, Inc. (OTCBB: ETLC), a financial diversified merchant services company, today announced that David Young, former Senior Director of Operations has fully assumed his appointment as President, effective August 1, 2006.

David Young takes over 32 years of experience with large incumbent carriers, competitive interchange and CLEC carriers along with engineering expertise assisting eTelcharge in reaching its immediate and long term objectives.

"eTelcharge has made tremendous strides from 2005 through today.

--  On the product end, Version 2.0 is 'complete' and is presently with
    merchants who are revamping their billing systems to accommodate the
    Company's alterative payment system allowing consumers to charge purchases
    to their home phone bill;
--  On the billing front, the company has signed a contract with a
    nationally recognized billing aggregator who will provide service to the
    southwest with plans of expansion into the Midwest and western regions of
    the country;
--  On the American Home Market merger:  Final merger documents are
    presently with the Company's securities counsel, who will submit the
    required legal documents, including Form 14c, to the SEC for review.
--  On the traditional billing services division of eTelcharge, the
    Company has successfully launched merchant services with three
    municipalities and is moving ahead in that arena as well as the private
    sector, expecting to continue to close additional government and commercial
--  On the regulatory issues, the Company has regained listing on the Over-
    The-Counter Bulletin Board and is fully compliant," Young stated.

"As we move ahead, I will continue to foster client relationships as I did during my tenures at AT&T and Vartec Telcom, work to ensure that Version 2.0 meets merchant requirements and significantly grow that portion of our business model, utilize my engineering skills where required and continue to implement project and cost management systems," Young concluded.

Carl Sherman, CEO added, "The years 2005 and 2006 have been a well worthwhile struggle. The Company is in a position to prosper and bring long-term and long-awaited value to our valued shareholders. David's appointment provides me with a growing infrastructure and leadership to bring the Company to its full potential."

About (OTCBB: ETLC) offers the traditional credit card merchant services, checks and other existing financial infrastructure offered by banks, as well as the proprietary new online currency that provides online shoppers the exclusive choice to charge items to their telephone bill. Designed to reduce the risk of identity fraud and identity theft by providing an Internet credit option for online shoppers to charge a number of items sold over the Internet. This payment option is a perfect match for the 70 million Americans who do not own a credit card. started as the only company with the ability to charge a variety of products to the home phone bill. Clearly, past electronic commerce solutions have not employed effective security and privacy techniques that adequately address consumer concerns about privacy and security on the Internet today. The release of the latest version of the proprietary phone billing option is scheduled to be launched soon. For more information, go to

This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements involve a number of known and unknown risks and uncertainties that may cause, Inc. and actual results or outcomes to be materially different from those anticipated and discussed herein. These include its historical lack of profitability, limited working capital, the need for additional capital, end-use customers' acceptance of new products and actual demand, the need for, Inc. to manage its growth, and other risks associated.

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