SOURCE: Metro One Telecommunications, Inc.

May 12, 2008 08:30 ET

Metro One Telecommunications Sells Surplus Intellectual Property Portfolio

PORTLAND, OR--(Marketwire - May 12, 2008) - Metro One Telecommunications, Inc. (NASDAQ: INFO) announced today that it has sold a large portfolio of surplus intellectual property to a subsidiary of kgb, formerly INFONXX, Inc., a provider of live operator directory assistance services headquartered in New York City. The consideration received was $8 million in cash.

The portfolio consisted of 49 issued and 78 pending patents in North America and numerous trademarks and domain names that were developed originally for use in Metro One's discontinued live operator directory assistance business unit. Metro One retains ownership of a data management and analytics patent and a pending application that are pivotal to its continuing business model which is focused on providing data, data processing and analysis services, and contact services to business customers. Metro One will also continue to provide electronic directory assistance services via the Internet using its industry leading daily updated directory assistance data. As part of the transaction, Metro One licensed its retained data patent and rights under its pending patent application to kgb for use only by or for kgb.

"This patent portfolio was built to support our live operator directory assistance business unit, which is no longer the focus of our organization," said Jim Hensel, CEO of Beaverton-based Metro One. "By selling this surplus portfolio at a reasonable value, we now have sufficient financial stability to implement our plans in contact services and data base services, including electronic data management."

The transaction was completed less than two months after the Company announced its intentions to exit an unprofitable live operator directory assistance business.

About Metro One Telecommunications

Based in the Portland, Ore., suburb of Beaverton, Metro One Telecommunications, Inc. (NASDAQ: INFO), is an information services provider, offering inbound and outbound contact services, data and analytics, and related services.

Safe Harbor Statement

This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements, including, but not limited to, factors detailed in the Company's Securities and Exchange Commission filings. The forward- looking statements should be considered in light of these risks and uncertainties.

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