| | Innotelco Announces US$2.2 Million Contract
Tuesday October 25, 3:15 pm ET
TORONTO--(MARKET WIRE)--Oct 25, 2005 -- INNOTELCO, Inc. (Other OTC:ILCO.PK - News), a marketer and distributor of telecom hardware and network solutions announced today that it has signed a contract with Bus d.o.o. (Preduzeæe za radiodifuziju I telekomunikacije d.o.o. "BUS" Kovin), to provide telecommunication products and accessories to the value of US$2.2 million. The contract calls for Innotelco to supply a variety of cables for telecommunication and television equipment.
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"Innotelco is very excited about this relationship, it's our company's first major contract and is a direct result of the successful European trip following the Berlin Trade Show," said Ross Sehovic, CEO. "Our biggest challenge as a company right now is to look at financing options that will help us expand our business and capture a piece of the market in Southeastern Europe."
Further, "We have had to postpone our China trip until the new year because of the need to cultivate a lot of leads as a result of Berlin, in fact management is headed back to Europe shortly for more meetings that we hope will yield positive results."
"The signing of this agreement we believe will give Bus the opportunity to expand its presence and infrastructure in the region and to re-invest in infrastructure and programming, which are one of the aims of the company," said Vladimir Vjestic.
"INNOTELCO -- Building Bridges for Communication"
About Innotelco, Inc.
Innotelco is a telecom hardware supplier, specializing in servicing emerging markets looking to expand their telecommunications networks. Innotelco products range from indoor and outdoor coaxial cables and accessories to fibre optics and switching equipment.
About Bus d.o.o. radiobus.co.yu
Bus d.o.o has been in the telecommunication and broadcasting business for several years. It is a privately owned registered company that conducts business activities in the broadcasting and telecommunication field. The activities of the company include marketing, public relations consulting, technical consulting, export and import of telecommunication products and accessories, television cable equipment, audio, video production and design. The company is situated in the town of Kovin in the southern most Municipality of Vojvodina. Vladimir Vjestic, who has over 15 years of experience in the telecommunication and broadcasting business, heads the company.
Safe Harbor Statement This press release contains forward-looking statements as defined in the Securities Litigation Improvements Act of 1996. The words "believe," "expect," "estimate," "project" and similar expressions define forward-looking statements, which speak only as of the date the statement was made. Innotelco, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events or otherwise. Forward-looking statements are currently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated in, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the Company's ability to meet its projected growth, the effects of government regulation, competition and other material risks.
Contact:
Contact:
Innotelco, Inc.
Ross Sehovic
416-259-8444
Website: innotelco.com
Source: INNOTELCO, Inc.
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