SOURCE: Nettel Holdings

April 18, 2008 10:50 ET

Nettel Holdings Reports on Recent Developments - Tougi Signs Contracts Worth $5 Mil Per Month - VOIP Payments Services Sells Major Software Package

VANCOUVER, WA--(Marketwire - April 18, 2008) - Nettel Holdings, Inc. (OTCBB: NTTL) reports on recent developments of Tougi and VOIP payments services.

Tougi Recent developments

Our wholesale large contract division has been working closely with both buyers and sellers on completing large contracts valued at over $200 million per year. Over the past weeks, we have already started shipping on many of these orders. The orders that we have already closed and began shipping are worth over $5 million per month. We expect to start processing over $7 million per month worth of additional sales within the next 60 days. We will be providing more detailed and updated information on these orders within the next few days.

VOIP Payments Recent developments

We have recently closed on the sale of a replica of VOIP Payments Services to a large Hong Kong-based Telecom company for a large amount of cash and stock options. We will provide more details on this transaction within the next few days.

Accounting

Due to the recent activities and events that have taken place with AVOP, Tougi, and VOIP Payments we were not able to complete the 10K on time. We have been working very closely with our auditor to complete it within the next few days.

Once again, we want to thank our shareholders for your continued patience as we strive to bring what we have been working on the past two years to its full commercial potential.

Contact Information

  • Contact:
    Investor Relations
    503-336-5098