SOURCE: i2 Telecom International

April 21, 2008 09:01 ET

i2Telecom International Licenses Mobile Payment System Patents

Intellectual Property to Be Used in Value-Added Service for MyGlobalTalk™ Platform

ATLANTA, GA--(Marketwire - April 21, 2008) - i2Telecom International, Inc. ("i2Telecom®") (OTCBB: ITUI), a developer of patented and innovative high-quality Voice-over-Internet Protocol ("VoIP") products and services, today announced that it has licensed U.S.P.T.O. Patent 7,120,606 and U.S.P.T.O. Patent 7,343,349 and all related international rights, including published or pending patent filings in Europe, Canada, India and under the worldwide Patent Cooperation Treaty, from the owner, Ann Arbor, Michigan-based Jove Corporation. i2Telecom intends to utilize the non-exclusive license in conjunction with a value-added mobile payment service for its award winning MyGlobalTalk™ platform.

MyGlobalTalk™ enables very low-cost international phone calls from any mobile phone that downloads the MyGlobalTalk™ software. MyGlobalTalk™ is an innovative combination of cellular and VoIP technology that utilizes i2Telecom's VoIP network and other Internet-based and Session Initiation Protocol ("SIP") telephony-based infrastructures referred to as Mobile VoIP. MyGlobalTalk™ has recently received a number of awards, including the 2007 INTERNET TELEPHONY® Magazine's 'Product of the Year' Award, 'Best of Show' at the INTERNET TELEPHONY® Conference and Expo East 2008, and the 2007 'Product of the Year' Award by Unified Communications.

"The inclusion of a mobile payment service platform as part of the MyGlobalTalk™ platform represents a natural extension of the MyGlobalTalk™ franchise," stated Paul Arena, Chairman and Chief Executive Officer of i2Telecom International, Inc. "Many international callers also send money overseas on a routine basis, and the mobile payment service makes this possible. Cell phone users will also be able to pay for retail purchases electronically using their cell phone as a proximity payment device instead of using cash and coins."

"We are pleased to partner with i2Telecom in offering this new innovative service, which will be available to the market later this year," commented Stephen Lange Ranzini, Chairman of Jove Corporation and one of the co-inventors of the patented technology. The other co-inventors are Don Jacobs, John Sheridan and Chris Weideman. Stephen Lange Ranzini is also President and Chairman of University Bank of Ann Arbor. He represents the U.S. at the United Nations standards setting body for financial services XML, UN CEFACT TBG5 (www.tbg5-finance.org), and is a member of the board of directors of the U.S. financial services standards setting body, ANSI ASC X-9 (www.x9.org). He has also been a U.S. delegate to ISO TC 68, the global standards setting body for financial services (www.iso.org/tc68).

About Jove Corporation

Jove Corporation is an Ann Arbor, Michigan-based investment company. Among its holdings are Michigan Business Development Company and a real estate development company, West Pier Corporation. Jove's management team also manages Northern Michigan Foundation, an economic development non-profit organization that lends money to businesses located in rural northern Michigan and is supported by the U.S. Department of Agriculture's Rural Relending Program. The patents held by Jove Corporation were developed under the leadership of Michigan Business Development Company, which was founded as a private/public partnership with the Michigan Economic Development Corporation.

About i2Telecom International, Inc.

i2Telecom International, Inc. is a developer of patented and innovative high-quality Voice-over-Internet Protocol ("VoIP") products and services that employ best-of-breed VoIP technology and use a combination of the Company's own services network and the Internet to deliver high-quality phone calls, streaming video and text chat to customers on a global scale. i2Telecom International provides its VoiceStick®, MyGlobalTalk™, Digital Portal communications and microgateway adapters for VoIP long-distance and other enhanced communication services to its subscribers. Its patent pending services technology platform is compliant with the Session Initiation Protocol ("SIP") telecommunications industry standard. For additional information visit www.i2telecom.com or www.voicestick.com or www.myglobaltalk.com or call 404-567-4750.

SAFE HARBOR Statement under the Private Securities Litigation Reform Act. With the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risk and uncertainties that may individually or mutually impact the matters herein described, including, but not limited to, product acceptance, economic, competitive, governmental, results of litigation, technological and/or other factors which are outside the control of the company. Actual results and developments may differ materially from those contemplated by these statements depending on such factors as changes in general economic conditions and financial or equity markets, technological changes, and other business risk factors. i2Telecom® does not assume, and expressly disclaims, any obligation to update these forward-looking statements.

Contact Information

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