June 19, 2008 06:30 ET Posts Chairman's Letter to Shareholders

Chairman Addresses Definitive Agreement

DESOTO, TX--(Marketwire - June 19, 2008) - (OTCBB: ETLC) announced it posted a "Letter to our Shareholders" from Chairman and CEO, Rob Howe. "I'm answering the questions our shareholders have been asking about our definitive agreement. I address more of the 'why' than the 'what' in the letter. Our 8-K contains every bit of the 'what' detail, but I wanted to share my rationale with our shareholders, to give them a context," said Howe. "I'm tremendously excited about this, and I want our shareholders to know why," Howe said.

The letter is posted on the company's website, (OTCBB: ETLC), the first Web 2.0 online payment system, provides online shoppers the ability to charge approved transactions to their telephone bill. While addressing the concerns online shoppers have about identity fraud and identity theft, the payment option is also a perfect match for the millions of individuals without a credit card, or even a bank account. For more information, go to

This 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 actual results or outcomes to be materially different from those anticipated and discussed herein. These include, among others: the inability to complete the acquisition due to failure to obtain U.S. Bankruptcy Court approval or the failure to satisfy other conditions to the completion of the acquisition; the risk that will be outbid in connection with the acquisition; the failure to obtain the necessary financing arrangements required in connection with the acquisition and the possible effect on Etelcharge or its shareholders in connection with such financing; the ability to recognize the benefits of the acquisition; the amount of the costs, fees, expenses and charges related to the acquisition and the impact of the substantial liabilities incurred in connection with the acquisition;'s historical lack of profitability and limited working capital; the need for additional capital; end-user customers' acceptance of and demand for new products; the need for to manage its growth; and other risks described in filings with the Securities and Exchange Commission. All documents are available through the SEC's Electronic Data Gathering Analysis and Retrieval system (EDGAR) at or from's website at makes no commitment to revise or update any forward-looking statements except as otherwise required by law.

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