XFONE, Inc. CEO Issues Letter to Shareholders
January 24 2005 - 11:53AM
PR Newswire (US)
XFONE, Inc. CEO Issues Letter to Shareholders LONDON and TEL AVIV,
Israel, Jan. 24 /PRNewswire-FirstCall/ -- In a letter to Company
shareholders, Guy Nissenson, Chief Executive Officer of XFONE, Inc.
(OTC:XFNE) (BULLETIN BOARD: XFNE) , stated: "In 2004, XFONE firmly
established itself as a growing international telecommunications
company with an expanding global perspective by establishing our
telecom platform in the United States, United Kingdom and Israel.
XFONE has continued to demonstrate that, despite prevailing market
conditions impacting others within the telecommunications space,
telecom can indeed be profitable. In a relatively short time, our
management team, through its devotion and vision, has been able to
achieve steady, progressive execution of the corporation's growth
strategies. "During 2004, XFONE entered the world's largest
telecommunications market -- the United States. We negotiated the
acquisition of eXpeTel Communications, a licensed telecom service
provider based in Jackson, Mississippi. Although we are still
working through the regulatory issues associated with the
acquisition and hoping to close the transaction in the first
quarter of 2005, we have already assumed the day-to-day operations
of eXpeTel through a management agreement. Looking ahead, we intend
to leverage this $5.5 million operation to gain greater market
penetration in the U.S. market, growing our presence through the
acquisition of other regional service providers. "In December 2004,
XFONE successfully launched its international carrier business in
Israel's growing $330 million telecommunications market. As one of
only six licensed operators in this growing marketplace, we have
long understood and appreciated the opportunity that Israel
represents for XFONE's future growth. Following only a month of our
'018' system operations, revenues have well exceeded our initial
expectations and are trending steadily upward with each passing
week. Consequently, we anticipate that our Israel operations will
contribute measurably to XFONE's 2005 revenue growth. "It is
important to note that our global expansion efforts have not
diminished our focus on our traditional business in the United
Kingdom. I am pleased to report that our United Kingdom operations
have continued to perform well in 2004, achieving approximately 50%
growth over the previous year. "Presently XFONE has over 65
employees based in three countries -- each of them dedicated and
skilled and led by an exceptionally qualified and devoted
management team. To all of them and to you, my fellow shareholders,
I would like to extend my sincere appreciation for your unwavering
support and my best wishes for our continued good fortune in 2005,"
concluded Nissenson. About XFONE, Inc. A U.S.-domiciled
corporation, XFONE, Inc. is an international voice and data
communications services provider with operations in the United
States, United Kingdom, and Israel, and offers a wide range of
services, which include: local, long-distance and international
telephone services, prepaid and postpaid calling cards; cellular
services; VOIP services; reselling opportunities; and email and fax
broadcasting services. The Company serves customers in 75 countries
across Europe, Australia, North America, South America, Asia and
Africa. Safe Harbor Statement under the Private Securities
Litigation Reform Act of 1995: All information set forth in this
news release, except historical and factual information, represents
forward-looking statements. This includes all statements about the
company's plans, beliefs, estimates and expectations. These
statements are based on current estimates and projections, which
involve certain risks and uncertainties that could cause actual
results to differ materially from those in the forward-looking
statements. These risks and uncertainties include issues related to
the ability to: rapidly changing technology and evolving standards
in the industries in which the Company and its subsidiaries
operate, obtain sufficient funding to continue operations, maintain
adequate cash flow, profitably exploit new business, license and
sign new agreements; and the unpredictable nature of consumer
preferences; and other factors set forth in the Company's most
recently filed annual report and registration statement. Readers
are cautioned not to place undue reliance on these forward-looking
statements, which reflect management's analysis only as of the date
hereof. The Company undertakes no obligation to publicly revise
these forward-looking statements to reflect events or circumstances
that arise after the date hereof. Readers should carefully review
the risks and uncertainties described in other documents that the
Company files from time to time with the Securities and Exchange
Commission, including the Registration Statement effective on
November 12, 2004. For More Information, Please Contact: Elite
Financial Communications Group Stephanie Noiseux, 407-585-1080
DATASOURCE: XFONE, Inc. CONTACT: Stephanie Noiseux of Elite
Financial Communications Group, +1-407-585-1080, or , for XFONE,
Inc. Web site: http://www.xfone.com/
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