SOURCE: Voxbox World Telecom, Inc.

July 19, 2005 07:00 ET

President's Letter to VoxBox World Telecom, Inc. Shareholders and Other Members of the Investment Community:

VANCOUVER, BC -- (MARKET WIRE) -- July 19, 2005 -- VoxBox World Telecom, Inc. (OTC: VXBX) The following is a statement issued by Romeo (Ray) Prescott, President and CEO of VoxBox World Telecom, Inc.

Dear Shareholders and Other Members of the Investment Community:

I am pleased that the corporate circumstances of VoxBox World Telecom, Inc, formerly Global Bancorp Inc., now make it relevant and timely for me to write this President's Letter to you -- our second such contact. The company has made several corporate and strategic business changes in the past few weeks and the relevancy and timeliness of this release stems from the progress that VoxBox has made over the past six months. The primary reason for the change in business strategy and renaming of the company was to provide the investment community and shareholders a better opportunity to realize significant gain in their investment, the former strategy was fine, however the companies previous multiple business unit strategy was never embraced by the investment community, causing us to review and making the decision to convert the company into a VoIP company with a twist. The twist is we are not just another VoIP company; we are the next generation telecom/cable company. Thus, my primary reason for this letter is to properly communicate the changes to our shareholders and the investment community.

VoxBox World Telecom, Inc. formerly Global Bancorp Inc., is incorporated in Nevada (U.S.), and has its corporate office in Vancouver, British Columbia, Canada. VoxBox's corporate objective is to become a leader in the delivery of digital media technologies to the home and small medium enterprise (SME's) markets, We will offer our customers Voice Over Internet Protocol (VoIP), Video on Demand and through the company's relationship with Lifestyle America and Lifestyle Canada, a smart card bank platform for future integrated commerce and e-commerce applications.

VoxBox World Telecom is built on the assumption that the management of information technology for home and business is like legal advice, accounting, graphic arts, and other bodies of knowledge, in that it is not inherently a do-it-yourself prospect. Smart business people who aren't computer hobbyists need to find quality vendors of reliable hardware, software, service, and support. They need to use these quality vendors as they use their other professional service suppliers, as trusted allies. VoxBox intends to be a provider of such services, from the delivery of Voice over IP (VoxBox) technology, to home networking solutions and computer services for home and small office. VoxBox Telecom seeks to fulfill these needs and become the leader in the next generation Telecom business of home & SME information technology requirements in North America and through out the world.

VoxBox will provide both new emerging business products, such as VOIP and Mobile VoIP, Wireless LAN & computer products and services making them useful to both homeowners and small businesses. We are especially focused on next generation IP telephony and providing network systems and services to small and medium business. The systems include both PC-based LAN systems and minicomputer server-based systems. Our services will include design and installation of such systems, training, and support.

VoxBox World telecom Inc. has approximately 298,799,590 shares outstanding. These are publicly traded on the Over-the-Counter Pink Sheets market in the U.S. under the symbol VxBx. The vast majority of shares are held by the corporation's founders so the share float is presently low, which has limited market-making activities by OTC broker/dealers. VoxBox shares currently sell near $0.01 per share and have traded within approximately the $0.90-$0.05 range over the past year. As VoxBox presumably grows in revenues, assets, and other financial measures, it is our plan to develop eligibility to seek listing on the NASDAQ market. This would help broaden investor awareness of VoxBox and increase the liquidity/marketability in the trading of its shares.

The company will derive revenue from several sources such as our Dealership Partner Program, which has generated considerable interest and we hope to make some agreements in this area in the near future. Also, the company is in discussions with several Affinity groups that have expressed interest in offering VoxBox to their member organizations. In addition the company directly markets to the end user through various direct marketing strategies. The company is in discussions with potential partners that will enable the deployment of the company's proposed Mobile VoIP solution, it this product offering that will provide the company with a competitive advantage in the very near future.

We believe our vision is laden with high profit potential for VoxBox and its shareholders; but vision alone is not enough. We recognize the importance of management, the company is currently focusing on building our management team and hopes to make announcements regarding some key management appointments by early to late fall. We have currently completed all our technology trials and have signed all of our trial clients as customers. We are currently a reseller of VoIP services through our partner AEBC limited, we have completed our trial deployment and we are in discussions to acquire our own VoIP platform, which will allow our pricing strategy to work for the Dealership program and provide greater profitability to the company.

Other attractive initiatives are also on our drawing board for later time frames. Most importantly, I think VoxBox has created a superior combination of integrated technologies and an insightful business plan. I look forward to guiding these winning attributes to successful and profitable fruition for VoxBox over the next few years.


Romeo (Ray) Prescott, CEO

This release contains forward-looking statements that involve risks and uncertainties. The company's actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors. This announcement does not constitute an offer to sell or the solicitation of offers to buy any security and shall not constitute an offer, solicitation or sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Contact Information

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    VoxBox World Telcom, Inc.
    Romeo (Ray) Prescott