SOURCE: Voxbox World Telecom, Inc.

October 11, 2006 10:00 ET

VoxBox World Telecom, Inc. Announces Significant Developments Regarding Acquisition of Revenue Generating Software Company With Stellar Clientele

VANCOUVER, BC -- (MARKET WIRE) -- October 11, 2006 -- VoxBox World Telecom, Inc. ("VoxBox" or "Company"), (PINKSHEETS: VXBX) announces today that its discussions are now at a level of serious negotiations regarding the closing of the acquisition of a software company in the business of applications for supercomputing and telecommunications.

In order to provide more of a picture as to the value of this acquisition to VoxBox, the Company provides the following info about the target:

   1. Leading developer in the field of high performance supercomputing and
      telecommunications
    
   2. Has extensive IP rights to cutting-edge, in high demand, software
      applications
    
   3. Quality revenues with potential for large growth and high margins
    
   4. Clients from primarily the areas of military, education and government
      including:
    
       a. NASA Langley
       b. Renssalaer Polytechnic Institute
       c. Rice University
       d. American Museum of Natural History
The next steps beyond the previously announced MOU are the completion of negotiations and the finalizing of the contractual terms of the acquisition, which the Company feels is moving forward at an advanced pace towards a successful close.

Romeo Prescott, CEO of VoxBox, stated: "The value this acquisition will add to the future of VoxBox is evident even if you just look at the small sample of their impressive client list. We feel the shareholders will be very pleased with the potential increases in the value we believe this transaction will add."

The Company looks forward to announcing more developments as they occur, including more information about the target, their clientele and what they can add in terms of future potential for growth and earnings.

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.