SOURCE: TelePlus Enterprises, Inc.

December 15, 2005 06:00 ET

TelePlus Closes on $9.225M in Funding

MONTREAL -- (MARKET WIRE) -- December 15, 2005 -- TelePlus Enterprises, Inc. (OTC BB: TLPE) (Frankfurt: YT3) ( announced today that it has closed on a new funding arrangement of $9.225M (the "Funding") with Cornell Capital Partners, LP ("Cornell"). $5.85M will be used to retire a convertible debenture, plus accrued interest, issued by Cornell to the Company on July 15th 2005. The remainder amount is to be used for general corporate purposes and strategic growth opportunities. For detailed information on the transaction investors should review the Company's latest 8K.

Marius Silvasan, CEO of TelePlus Enterprises, stated, "This additional capital will allow us to immediately act on some strategic growth opportunities we've been working on in the past few months. We intend to provide investors with additional information on such opportunities shortly."

This press release is available on the company's official on-line investor relations site for investor commentary, feedback and questions. Investors are asked to visit Alternatively, investors are asked to e-mail all questions and correspondence to where they can also request addition to the TelePlus investor e-mail list to receive all future press releases and updates directly.

About TelePlus

TelePlus Enterprises, Inc. ("TelePlus") is a provider of Wireless and Telecom products and services across North America. TelePlus Connect, Corp. -- is a reseller of a variety of Telecom services including landline, long distance and internet services. TelePlus Wireless, Corp. -- operates a virtual wireless network selling cellular network access to distributors in the United States. TelePlus Retail Services, Inc. -- owns and operates a national chain of TelePlus branded stores in major shopping malls, selling a comprehensive line of wireless and portable communication devices.

About Cornell

Established in January 2001, Cornell Capital Partners, LP has funded numerous companies listed on the OTCBB. Building on that solid foundation, Cornell has consummated transactions with AMEX and NASDAQ listed companies, and continues its success in international markets.

The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development and acquisition of new product lines and services, government approval processes, the impact of competitive products or pricing from technological changes, the effect of economic conditions and other uncertainties, and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on Form 8-K. TelePlus Enterprises, Inc. takes no obligation to update or correct forward-looking statements.

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