SOURCE: Voxbox World Telecom, Inc.

November 29, 2006 09:30 ET

VoxBox World Telecom, Inc. Announces New Business Plan to Focus on Software (Telecom-Related and Other Applications) and Operational Restructuring to Boost Performance to Increase Shareholder


VANCOUVER, BC -- (MARKET WIRE) -- November 29, 2006 -- VoxBox World Telecom, Inc. ("VoxBox" or "Company"), (PINKSHEETS: VXBX) announces today the Company is confident enough on its plans to acquire the previously announced supercomputing software company that it is planning to focus its new business plan around this potential acquisition. Specifically, the Company's new business plan will focus on software development and sales, including software for aspects of the telecom industry.

Considering the margins and growth potential in the software industry, management feels this focus gives the Company the best opportunity and long-term outlook to boost performance and increase shareholder value.

In line with implementing the new business plan, the Company also announces additional operation restructuring plans that may be implemented upon closing of its prospective acquisition. These operational restructuring plans may include, but are not limited to, the addition of new management and board directors; significantly reducing debt from the Company through various measures such as the sale of underperforming subsidiaries; and a continued effort to focus the business plan around the software development and sales of its planned acquisition.

Romeo Prescott, CEO, VoxBox World Telecom, Inc., said: "The future for the Company is bright with its planned new focus and direction, and future plans for enhancing the management team and board of directors. I look forward to working hard to make these things a reality for the benefit of the shareholders."

The Company looks forward to the announcement of key developments as they take place.

All trademarks, trade names, and service marks mentioned herein belong to their respective owners. This release contains forward-looking statements that involve risks and uncertainties. Statements in this news release, other than historical data, are considered forward-looking statements under the Private Securities Litigation Reform Act of 1995. The company's actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors uncontrollable by the company. 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.