SOURCE: Viper Networks, Inc.

Viper Networks, Inc.

August 19, 2009 08:30 ET

Viper Networks, Inc. Announces Letter of Intent

TROY, MI--(Marketwire - August 19, 2009) - Viper Networks, Inc. (PINKSHEETS: VPER) announced today that it has entered into a Letter of Intent to merge with Cirilium India Pvt. Ltd., a privately-held, profitable communications provider based in Chennai, India. The Company expects to finish due diligence, close this transaction and announce the financial details by September 30, 2009.

Asokan Arangannal, President of Cirilium, stated, "This merger means a lot of things for a lot of people. Both companies obviously benefit massively in the boost of both economies of scope as well as economies of scale, but that's only the start. The pieces fit perfectly to allow either half of the puzzle access to a caliber of international products and services never before seen in this part of the world."

As previously announced, the Company signed a 5-year Joint Venture Agreement with Cirilium India Pvt. Ltd. for the exclusive franchise rights with BHARAT SANCHAR NIGAM LIMITED (a Government of India Enterprise) for pre-paid international calling cards for retail inbound international traffic. This Joint Venture will target the roughly 50,000,000 Indian expatriate community and a floating population of Indian tourists outside India. This card will enable users to call from any landline, mobile, PC or any VoIP enabled device from countries where it is proposed to be launched in the world. The card will be available both in India and outside India. Viper is partnering with Cirilium India Pvt. Ltd. to own and operate this license, offering a full spectrum of national and international telecom services, including: VoIP, Calling Cards and Pinless Accounts.

Viper Networks, Inc. had projected that its interest in this Joint Venture will earn revenue of $15,000,000 for 2009 and grow to over $50,000,000 for fiscal 2010. The projected revenues from this Joint Venture would essentially double upon consummation of this acquisition. Viper will generate revenues through network operations and technical management fees, as well as an equity ownership stake.

Farid Shouekani, President of Viper Networks, Inc., commented, "We are bullish on the future of the combined companies and our expectations are high. Viper Networks is positioned in the market at the upper end of the regional communications sector with a tremendous opportunity to become a strong international provider."

Viper Networks, Inc. is finishing its audited financial statements for the year ended December 31, 2008, as well as the unaudited financial statements for the six months ended June 30, 2009, and will be making them available at

Except for the historical information contained herein, this press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from the results predicted and reported results should not be considered an indication of future performance. In addition to the factors discussed in the filings with the Securities and Exchange Commission, among the other factors that could cause actual results to differ materially are the following: adverse changes in the business conditions and the general economy; competitive factors, such as rival companies' pricing and marketing efforts; availability of third-party material products at reasonable prices; the financial condition of the customer; risks of obsolescence due to shifts in market demand; and litigation involving product liabilities and consumer issues. Viper Networks, Inc. cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Viper Networks, Inc. expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the company's expectations or any change in events, conditions or circumstances on which any such statement is based.

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