In this 3rd annual survey, the findings comment on the expectations of carriers for their wholesale businesses in the year ahead, covering both voice and data.

The Wholesale Survey 2005 is based on research with selected international wholesale carriers conducted in Europe, North America, Asia-Pacific and Latin America. Collectively the carriers represent around 40% of all world voice traffic estimated at 221.5 billion minutes, and 3.5 Terabits of sold capacity, through over 500 Points of Presence around the globe.

Overall, Carriers confront an increasingly changing and challenging environment.

The report found that in contrast to previous years, operators believe revenue growth will now not occur outside the norm, which increases the focus on other vehicles for growth including mergers, acquisitions, strategic collaboration and voice minute aggregation.

However, price declines appear set to continue but with some amelioration in the speed and percentage rate. In contrast to other regions, high voice and data volume growth is forecast for the Asia Pacific region.

In international wholesale data, the report found that the world market has not yet stabilised, and continues to be highly competitive with low barriers to entry for IP Transit, and the possibility that a new threat to the current IP Transit business model is emerging.

Although the total international wholesale market dollar value increased by only 4% between 2003 and 2004, strikingly the report found that the mobile premium now equates to approximately 40% of all revenues. The proportion of mobile terminating traffic continues to increase - the survey average is 36% - although new challenges could impact future growth.

The report also includes two valuable additional sections that provide context for the survey results: market pricing and the value of the international wholesale voice market, and an assessment of wholesale business profitability.

Voice and Data Competition

The survey found that Carriers perceive Teleglobe as the leading competitor in wholesale voice, and that a similar accolade is accorded to COLT in wholesale data. COLT has achieved this status for the second year running, even though its activities are confined to the European region.

ITXC is critical to the ranking of Teleglobe (now acquired by VSNL) and in combination places the carrier as the number one voice competitor, as viewed by its peers in the market. Belgacom who appeared first in voice wholesale last year, now ranks behind MCI who were identified by the respondents from all geographic regions as truly global and the most competitive wholesale voice carrier, and is now second in the survey.

In international wholesale data, Level (3) Communications and Cable & Wireless, who are viewed as highly competitive and collectively operate across multiple geographies, were second and third respectively.

Who Should Buy This Report

All operators, service providers and suppliers engaged in Wholesale Markets

– Voice and Data Carriers

– Aggregators

– Single Route Operators

– VoIP Players

– Regulatory Organisations

– Law Firms

– Supplier Companies

– Consultancies

– Financial and Investment Services Organisations

Companies mentioned include:

– Telegroup

– COLT

– Belgacom

– MCI

– Cable & Wireless

For more information visit http://www.researchandmarkets.com/reports/c27919.

The reductions are the result of RateWatcher, a feature of Pingo that actively searches for opportunities to reduce costs and pass the savings along to Pingo phone card subscribers. RateWatcher is just one of the features that makes Pingo “the last calling card you’ll ever need(TM)”. With RateWatcher, Pingo calling card customers benefit from the worldwide buying power of iBasis, one of the ten largest carriers of international telephone calls in the world.

By monitoring changing long distance costs around the world, RateWatcher finds opportunities to lower Pingo’s costs, provide low international calling rates, and save Pingo subscribers from the chore of having to compare a multitude of prepaid calling card offerings. Previous RateWatcher reductions have included lower rates to many of the most popular calling destinations in Latin America and Asia, as well on calls to almost one billion mobile phones in 100 countries.

“We’re very happy to be able to leverage our scale and efficiency to offer lower rates to our Pingo customers who call these Central American countries,” said Ofer Gneezy, president and CEO of iBasis. “Pingo’s combination of very competitive rates, great convenience features, and opportunities to earn bonus calling time make it a terrific deal. This RateWatcher reduction, our fifth in the past year, is aiming to increase the number of Pingo subscribers by attracting callers to countries in Central America, including Guatemala and El Salvador, two of the top 20 calling destinations from the U.S.”

About Pingo

Pingo offers consumers high quality long distance service on a prepaid basis. Pingo customers save on calls to and from both landline and mobile phones. Mobile phone users in particular can save as much as 90% on international calls by using Pingo’s toll-free access and lower rates on international calls. Minutes can be purchased using credit cards and debit cards at www.pingo.com. New customers begin saving immediately with a sign-up bonus of $5 worth of free calling and can receive additional $5 credits by successfully referring their friends to the Pingo service. Pingo can also be used to save on calls from 31 countries including, Canada, Japan, Germany, Mexico, Russia, and the U.K.

About iBasis

Founded in 1996, iBasis (OTCBB: IBAS) is a leading wholesale carrier of international long distance telephone calls and a provider of retail prepaid calling services, including the Pingo(TM) web-based offering (www.pingo.com) and disposable calling cards, which are sold through major distributors and available at retail stores throughout the U.S. iBasis customers include many of the largest telecommunications carriers in the world, including AT&T, Cable & Wireless, China Mobile, China Unicom, MCI, Sprint, Skype, and Telefonica. iBasis carried approximately 5 billion minutes of international voice over IP (VoIP) traffic in 2004, and is one of the ten largest carriers of international voice traffic in the world(1). For four consecutive years service providers named iBasis the best international wholesale carrier in ATLANTIC-ACM’s annual International Wholesale Carrier Report Card(2). iBasis was also ranked among the fastest-growing technology companies in New England in the 2002, 2003, 2004, and 2005 Technology Fast 50 programs sponsored by Deloitte & Touche. The Company can be reached at its worldwide headquarters in Burlington, Massachusetts, USA at 781-505-7500 or on the Internet at www.ibasis.com.

iBasis and Pingo are registered marks; RateWatcher, The iBasis Network, and the last calling card you’ll ever need are trademarks or service marks of iBasis, Inc. All other trademarks are the property of their respective owners.

(1)Telegeography 2005 data compared with iBasis 2004 traffic volume.

(2)ATLANTIC-ACM International Wholesale Carrier Report Card - 2002, 2003, 2004, & 2005.

“Having spent earlier time in his career at a CLEC Dave Clark has gleaned valuable insight into what is required of service providers to succeed in the market. He has leveraged this insight to help CommPartners achieve many significant milestones,” said Lynda Starr, senior analyst, IP Communications at Frost & Sullivan.

“Receiving this distinction from a leading industry expert like Frost & Sullivan is truly an honor,” said Dave Clark, president and CEO of CommPartners. “In founding CommPartners, I sought to bring together the best talent and technology to create an enterprise class IP-based network that would truly deliver on the promise of VoIP. This award is a testament to the like-minded vision and shared passion of everyone at CommPartners who have helped to make that promise a reality.”

This Frost & Sullivan Award is bestowed each year upon the CEO/Executive who has demonstrated leadership excellence within the IP communications voice services market. For this distinction, Frost & Sullivan sought to identify a highly successful CEO whose leadership, vision and successful risk-taking stand out among his/her peers in one or more Industry Research Groups (IRG). The Award recipient also has distinguished himself/herself from competitors by pursuing a unique restructuring, organizational management reengineering, or competitive roadmap that has resulted in propelling or sustaining the company’s market position.

Dave Clark’s accomplishments for 2005, the first full year of CommParnters’ operations, include:

– Raising $28 million, which enabled the company to accelerate the buildout of its leased network and further develop its operations support system.

– The completion of a nationwide network connecting four SuperPOPs located in Las Vegas, Chicago, Atlanta and New York, at which routers, softswitch equipment, and border control devices are placed. Customers are connected to the SuperPoPs via T-1s. In turn, the SuperPOPs are interconnected with high-capacity fiber links, creating a redundant VoIP Backbone.

– The acquisition of TxLink, a telecom wholesale reseller, in order for CommPartners to target smaller carriers with IP-based business services thereby leveraging the national backbone.

– Signing on 67 customers with 75 brands on a private-label basis since it began generating revenues in February 2005.

– The acquisition of TPC Networks, a minutes and bandwidth broker, in order to gain customers, routing and billing software systems.

Currently, CommPartners offers the broadest IP-based network coverage to deliver residential, SMB and enterprise hosted VoIP services with over 5,000 rate centers in the domestic U.S., including Hawaii and Alaska. CommPartners has applied for and expects to obtain Competitive Local Exchange Carrier (CLEC) status in all 50 states by next year, which will classify it as one of the sole largest networks of its type in the U.S. The company has architected its network for business-quality VoIP services, 911 emergency services capabilities and CALEA compliance–emerging issues that pose challenges to many VoIP service providers.

The CommPartners solution includes CommPartners Management System (CMS) proprietary OSS platform for automated provisioning, billing, user interface and back office support capabilities. Hosted features include simultaneous ring, voicemail-to-e-mail, feature activation via the web, and four digit dialing between offices. CommPartners provides VoIP facilitation services such as Subscriber Endpoint Control, Connectivity to the Public Switched Telephone Network (”PSTN”), Long Distance services, and Subscriber Management. Service providers can take advantage of all or any of these VoIP facilitation services, depending upon their existing network investments and VoIP requirements.

About CommPartners

CommPartners, Inc. was formed to “Enable the VoIP Promise” by offering hosted Voice over Internet Protocol services, including IP Centrex, hosted PBX and conferencing functionality and IP to PSTN connectivity to broadband and service providers. CommPartners’ hosted VoIP services are designed for Internet Service Providers (wireline and wireless), IT Integrators, Multiple Service Organizations, Private Cable Operators, Independent Operating Companies, Fiber-To-The-Home and Overbuilding Entities. Founded and operated by industry veterans, CommPartners has a belief in optimizing packet-based protocols in a distributed architecture to facilitate VoIP connectivity and service offerings for broadband and service providers. For more information, call 702-367-VOIP (8647) or visit CommPartners’ website at www.commpartners.us.

About Frost & Sullivan

Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company’s industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit www.frost.com.

Third Quarter Highlights

– Net income of $458,502 or $.10 per basic share or $.07 per share fully diluted in Q3 of 2005 versus income of $1,679 in Q3 0f 2004

– Revenues increase 244% to $11.7 million for Q3 of 2005 versus $3.4 million for Q3 of 2004

Nine Months Highlights

– Net Income of $1.32 million for the first nine months of 2005 versus a loss of $(149,040) for the same period 2004

– Revenues Increase 335% to $31.02 million for the first nine months of 2005 versus $7.12 million for 2004

Cordia Corporation (OTCBB: CORG), a communications services provider, announced the results of operations for the third quarter and nine months ended September 30, 2005.

Third quarter results:

The Company reported revenues of $11.71 million for the quarter ending September 30, 2005, an increase of approximately $8.3 million or 244%, from the $3.41 million in reported revenues for the quarter ended September 30, 2004.

Cordia reported third quarter EBITDA of $576,613 for the quarter ended September 30, 2005, an improvement from the $33,416 of EBITDA compared to the same period during 2004. Net income increased to $458,502, or $0.10 per basic share and $0.07 per fully diluted share, compared to a net income of $1,679 or $0.00 per basic and fully diluted share last year.

Nine months results:

The Company reported revenues of $31.02 million for the nine months ended September 30, 2005, an increase of approximately $23.9 million or 335%, from the $7.12 million in reported revenues for the nine months ended September 30, 2004.

Cordia reported EBITDA of $1.53 for the nine months ended September 30, 2005, an improvement from $(92,270) of EBITDA in the same period during 2004. Net income increased to $1.32 million, or $0.29 per basic share and $0.21 per fully diluted share, compared to a net loss of $(149,040) or $(0.03) per basic and fully diluted share for the same period last year.

Our balance sheet shows $11.13 million in total assets as of September 30, 2005, as compared to $5.5 million at December 31, 2004 and stockholder equity increased to approximately $1.95 million from a deficit of $(851,144) at December 31, 2004.

Joel Dupre, Chief Executive Officer of Cordia Corporation, stated, “We accomplished several milestones during the third quarter of 2005, while maintaining our rapid growth and expansion. We continue to rollout our VoIP network by building strategic relationships nationally and internationally, with a particular focus on the Asia-Pacific region. In September, Cordia obtained a license from the Telecommunication Authority in Hong Kong. We anticipate the commencement of our international VoIP service offering during 4th quarter 2005.”

Kevin Griffo, President of Cordia, commented, “We continue to focus on the enhancement of our financial performance through the implementation of our customer service reorganization, targeted marketing and new credit scoring initiatives. These initiatives should create greater efficiency and earnings as we pursue new territories for expansion over the next year.”

Conference Call Reminder

A conference call to discuss our 3Q results will take place at 4:15 p.m. Eastern, on Tuesday, November 15, 2005. Anyone interested in participating should call 800-322-0079 if calling within the United States or 973-935-2100 if calling internationally approximately 5 to 10 minutes prior to 4:15 p.m. There will be a playback available until November 22, 2005. To listen to the playback, please call 877-519-4471 if calling within the United States or 973-341-3080 if calling internationally. Please use pass code 6706428 for the replay.

This call is being webcast by ViaVid Broadcasting and may be accessed at Cordia’s website at http://www.cordiacorp.com. The webcast may also be accessed at ViaVid’s website at www.viavid.net. The webcast can be accessed through February 28, 2006 on either site. To access the webcast, you will need to have the Windows Media Player on your desktop. For the free download of the Media Player, please visit: www.microsoft.com/windows/windowsmedia/en/download/default.asp.

About Cordia Corporation

Cordia Corporation develops and provides industry specific applications, solutions and services. Cordia’s primary operations are currently concentrated in the telecommunications industry through its operating subsidiary, Cordia Communications Corp. In addition to retail and wholesale telecommunications services, Cordia also provides a suite of proprietary Web-based software and outsourced services it refers to as “UNE-P in a Box” that permit competitive local and long distance telecommunications providers to rapidly introduce local and long distance services.

This release contains forward-looking statements that involve risks and uncertainties. Cordia’s actual results may differ materially from the results discussed in the forward-looking statements. Factors that might cause such a difference include, among others, availability of management; availability, terms, and deployment of capital; Cordia’s ability to successfully market its services to current and new customers, generate customer demand for its product and services in the geographical areas in which Cordia can operate, access new markets, all in a timely manner, at reasonable cost and on satisfactory terms and conditions, as well as regulatory, legislative and judicial developments that could cause actual results to vary in such forward-looking statements.

CORDIA CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS

September 30, December 31,
2005 2004
————- ————
ASSETS (unaudited)

Current Assets
Cash and cash equivalents $ 626,597 $ 300,119
Cash - restricted 1,390,784 -
Accounts receivable, less allowance for
doubtful accounts of $4,133,423 (2005)
and $627,158 (2004) 6,614,287 4,423,423
Prepaid expenses 785,620 324,420
Accrued usage receivable 442,725 263,014
————- ————

TOTAL CURRENT ASSETS 9,860,013 5,310,976
————- ————

Property and equipment, at cost
Office and computer equipment 608,735 236,597
Computer software 457,603 -
Leasehold Improvements 252,426 -
————- ————

1,318,764 236,597
Less: Accumulated
depreciation/amortization (239,791) (59,182)
————- ————

NET PROPERTY AND EQUIPMENT 1,078,973 177,415
————- ————

Other Assets
Security deposits and other assets 194,483 59,064
————- ————

TOTAL ASSETS $ 11,133,469 $ 5,547,455
============= ============

LIABILITIES AND STOCKHOLDERS’ EQUITY
(DEFICIT)

Current Liabilities
Accounts payable $ 3,643,363 $ 3,316,121
Accrued expenses 4,061,675 2,154,910
Unearned income 1,374,283 867,728
Loans payable - other 57,000 57,000
————- ————

TOTAL CURRENT LIABILITIES 9,136,321 6,395,759
————- ————

Noncurrent Liabilities
Deferred rent 44,985 2,840
————- ————

Commitments and Contingencies

Stockholders’ Equity (Deficit)
Preferred stock, $0.001 par value;
5,000,000 shares authorized, 1,275,000
shares issued and outstanding 1,275 -
Common stock, $0.001 par value;
100,000,000 shares authorized, 4,832,210
(2005) and 4,541,210 (2004) shares
issued and outstanding 4,832 4,541
Additional paid-in capital 5,304,938 3,660,087
Accumulated deficit (3,262,884) (4,459,774)
————- ————

2,048,161 (795,146)
Less: Treasury stock, at cost, 117,694
(2005) and 77,694 (2004) common shares (95,998) (55,998)
————- ————

TOTAL STOCKHOLDERS’ EQUITY (DEFICIT) 1,952,163 (851,144)
————- ————

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY
(DEFICIT) $ 11,133,469 $ 5,547,455
============= ============

CORDIA CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)

Nine Months Ended Three Months Ended
September 30, September 30,
2005 2004 2005 2004
———— ———– ———— ———–
Revenues
Telecommunications
Revenue $30,453,742 $6,674,533 $11,516,174 $3,276,862
Other 570,521 450,661 195,808 134,945
———— ———– ———— ———–

31,024,263 7,125,194 11,711,982 3,411,807
———— ———– ———— ———–

Operating Expenses
Resale and
Wholesale Line
Charges 15,965,714 3,217,955 5,962,601 1,619,574
Sales and Marketing 3,520,247 1,333,616 1,392,772 685,285
Provision for
Doubtful Accounts 3,766,457 262,826 1,457,057 193,117
General and
Administrative 6,239,013 2,403,067 2,322,939 880,415
Depreciation 183,734 31,119 94,954 13,087
———— ———– ———— ———–

29,675,165 7,248,583 11,230,323 3,391,478
———— ———– ———— ———–

Operating Income
(Loss) 1,349,098 (123,389) 481,659 20,329
———— ———– ———— ———–

Other Income
(Expenses)
Other (expense) (47,792) (17,808) (33,326) (16,554)
Net Interest Income
(expense) 17,999 (7,843) 10,169 (2,096)
———— ———– ———— ———–

(29,793) (25,651) (23,157) (18,650)
———— ———– ———— ———–

Net Income (Loss) $ 1,319,305 $ (149,040) $ 458,502 $ 1,679
============ =========== ============ ===========

Basic Income (Loss)
per share $ 0.29 $ (0.03) $ 0.10 $ -
============ =========== ============ ===========

Weighted Average
Common Shares
Outstanding 4,530,397 4,806,579 4,580,580 4,504,808
============ =========== ============ ===========

Diluted Income (Loss)
per share $ 0.21 $ (0.03) $ 0.07 $ -
============ =========== ============ ===========

Weighted Average
Common and Common
Equivalent Shares
Outstanding 6,183,236 4,806,579 6,585,351 4,504,808
============ =========== ============ ===========

High-speed Internet subscribers in these three states can purchase Fonix Telecom’s Fonix Fone(TM) VoIP service starting at $16.95. Fonix Fone offers local and long distance calling, including features such as call waiting, call forwarding, E-911 and voice mail. Customers may check availability and purchase Fonix Fone products online at www.fonix.com or www.fonixtelecom.com.

“Fonix Telecom is pleased to offer cost-effective local area code phone services in these three states,” said Dale Smith, senior VP and GM, Fonix Telecom. “Our presence gives residents the option of choosing a phone service that provides a great alternative to current high-priced providers while providing them the ability to tailor and customize features to fit the needs of their households and businesses.”

Using Fonix Telecom’s facilities-based network, customers may choose from the following plans:

Residential:

– $16.95/month — Fonix Fone Basic 50 — Unlimited local and 50 minutes long distance within the United States

– $29.95/month — Fonix Fone Unlimited Local Plan — Unlimited local and 500 minutes long distance within the United States

– $39.95/month — Fonix Fone Extreme Unlimited Plan — Unlimited local and long distance within the United States

– $59.95/month — Fonix Fone International Unlimited Plan — Unlimited local and long distance within the United States, Canada and Western Europe

Business:

– $39.95/month — Fonix Fone Small Office — Unlimited local calls and 1500 minutes of long distance within the United States and Canada

– $49.95/month — Fonix Fone Small Office Unlimited — Unlimited local and long distance calling within the United States and Canada

– $69.95/month — Fonix Fone Small Office International Unlimited Plan — Unlimited local and long distance within the United States, Canada and Western Europe

Services and features in all plans include:

– Voice mail

– CallerID

– Three-way calling

– Call waiting

– Call forwarding

– Call return (*69)

– Call block (*67)

– Access to MyFonixTelecom (Web-based management)

– Real-time billing

– Account information

– Call transfer

– Competitive long distance calling rates starting at under $0.04/ minute

– Optional Services (subject to an additional charge)

– Access to Web-based feature management tools via Personal Call Management Tool

– Online voice mail retrieval

– Real-time incoming/outbound call record details

Fonix Fone is available in the following area codes: 801, 435, 770, 678, 404, 704, and 828. Term of contract, equipment, connection, customer service and termination fees subject to additional charges.

About Fonix Telecom

Fonix Telecom Inc. is a facilities-based provider of retail and wholesale VoIP, Broadband and BPL communications services. Fonix Telecom is a wholly owned subsidiary of Fonix Corp. and is based in Atlanta. Visit www.fonixtelecom.com for more information, or call 866-486-4733.

About Fonix

Based in Salt Lake City, Fonix Corp. is an innovative communications and technology company that provides integrated telecommunications services and value-added speech technologies through Fonix Telecom Inc., LecStar Telecom Inc. and The Fonix Speech Group. The combination of interactive speech technology and integrated telecommunications services allows Fonix to provide customers with comprehensive cost-effective solutions to enhance and expand their communications needs. Visit www.fonix.com for more information, or call 801-553-6600 and say “Sales.”

Statements released by Fonix that are not purely historical are forward-looking within the meaning of the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company’s expectations, hopes, intentions and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company’s business prospects and performance. The company’s actual results could differ materially from those in such forward-looking statements. Risk factors include general economic, competitive, governmental and technological factors as discussed in the company’s filings with the SEC on Forms 10-K, 10-Q and 8-K. The company does not undertake any responsibility to update the forward-looking statements contained in this release.

“We are pleased to have OTC Financial Network working with our team to increase investment community awareness of our VoIP services offering and broaden market interest in our on-going restructuring plan,” said Mark T. Wood, Chairman and CEO of GlobalNet.

OTC Financial Network President Geoffrey Eiten added, “We see investment opportunity in GlobalNet due to current turnaround initiatives and seek to communicate the company’s story to retail and institutional investors through an outreach campaign.”

About OTC Financial Network

Since 1992, OTC Financial Network has provided consulting services and customized, proactive investor relations campaigns to more than 500 small/micro-cap public companies. OTC Financial Network designs and implements results-driven direct mail, electronic marketing, shareholder communications and other programs to increase market awareness on behalf of its clients. A partnership with OTC Financial Network can improve a company’s shareholder communications channel, facilitate capital formation opportunities, create an expanding and diversified base of institutional and retail shareholders and garner financial media coverage. OTC Financial Network is a division of National Financial Communications Corp. based in Needham, Mass. For more information visit http://www.otcfn.com and http://www.nationalfc.com.

Disclaimer: OTC Financial Network serves as a special advisor to the featured company and has received fees for services, including a monthly fee of three thousand five hundred dollars paid in cash. This is not an offer to buy or sell securities. Information or opinions in this release are presented solely for informative purposes, and are not intended nor should they be construed as investment advice. Additional compensation information and a full disclaimer can be found online by visiting http://www.otcfn.com/glbt and selecting the “Disclaimer” link.

About GlobalNet Corporation

GlobalNet Corporation, a Voice over Internet Protocol (VoIP) services company, provides outbound telecommunications traffic to Latin America and counts among its customers both Tier 1 and Tier 2 carriers. GlobalNet provides international voice and enhanced services on a wholesale basis over a privately managed IP network to international carriers and other communication service providers in the U.S. and internationally. GlobalNet’s state-of-the-art IP network, utilizing the convergence of voice and data networking, offers customers economical pricing, global reach and an intelligent platform that guarantees fast delivery of value-added services and applications. More information may be obtained from our website at www.gbne.net.

Safe Harbor for Forward-Looking Statements

Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company’s actual results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product price, volatility, product demand, market competition, risk inherent in the Company’s domestic and international operations, imprecision in estimating product reserves and the Company’s ability to replace and expand its holdings.

Interlink reported gross revenues for the month of approximately $486,360 from its three operating subsidiaries servicing 422 clients, which is a 3% increase from September revenues of $472,003. Such increase was due to the expansion of wholesale telecom services to an additional 3 customers, the addition of international routes, increased revenues from existing customers, the addition of Everest Interlink Broadband’s client’s as stated on a pro forma basis, and the continued international expansion of Interlink. Average gross margins are estimated to be 19% for the month, which is due to the large amount of wholesale traffic that Interlink is servicing, which has average gross margins of 3%. The Company anticipates that the gross margin percentages will increase in November and December as the product and services mix of Interlink’s business begins to shift in favor of the higher margin business of Interlink Global’s special projects and Everest Interlink Broadband’s products and services for clients in multi-tenant buildings.

The Company is extremely proud of the substantial increase of new business which resulted to the consolidated group in October. The Company has 7 signed contracts, letters of intent or Memorandum of Understanding which are fully executed, but are in the rollout stage, and did not produce revenue for the Company in October. As these agreements are fully implemented over the next 90 days, they represent an additional $416,000 of gross revenues per month that should average gross profit margins of 16-20%. The Company also has pending bids or proposals for additional business, totaling 4 bids which represent approximately $1,026,000 per month of additional gross revenues. The Company cautions that not all bids outstanding will be won by Interlink or result in signed contracts.

Takis Kyriakides, CEO and Chairman of the Board of Interlink in discussing the October results stated:” We believe that October was the most significant month of our corporate existence so far, since we achieved record revenues, but also spent $75,000 in improving our infrastructure in both New York and Miami. We now have state of the art infrastructure capable of handling over 60M minutes of traffic through our facilities. Furthermore, in October, we have greatly expanded our management and support personnel through the addition of the management team of Everest Interlink in New York, headed by Michael Panayiotis, which brings into the Interlink fold an additional 4 employees in our Miami office to handle customer service, sales and finance. We estimate that our growth will continue in the near future with increased revenues increasing a minimum of 25% per month, and gross margins continuing to improve. Our pending contracts which have not yet begun to produce revenue, include such exciting projects as the rollout of wireless services to the retail market in Ecuador, India and the UK through our various joint ventures in each of those companies, the implementation of large scale telecom and data services projects in Ecuador for two government entities, and the servicing of a large multi-level marketer in Canada. We continue to meet our objectives of becoming the leader of providing VOIP services and products to the international business marketplace. As we move forward, we will announce our monthly operating results on or before the 10th of each successive month so that our shareholders, supporting brokers and all interested parties can track our expected operational improvement.”

ABOUT INTERLINK GLOBAL

Interlink Global (OTC: ILKG), founded in 2002, provides telecommunication solutions around the world. As a leader in hosted VoIP telephony services, Interlink Global is currently doing business in North America and South America, and soon in the Middle East. Interlink Global provides SIP-based broadband telephony solutions, WiFi, WiMax, Marine Satellite Services, calling cards, and other enterprise services internationally. Interlink Global, using VoIP technology, provides long distance telephone services, with full features, at prices that are greatly reduced in comparison with traditional telephone companies. For more information about Interlink Global’s products and services, please visit http://www.interlink-global.com/.

FORWARD LOOKING STATEMENTS

This press release includes “forward-looking statements” within the meaning of the federal securities laws, commonly identified by such terms as “believes”, “looking ahead”, “anticipates”, “estimates” and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company’s projections and expectations are disclosed in the Company’s filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.

Farid Shouekani, Viper’s President and CEO, commented, “Viper Networks is in the process of installing equipment to enable the C2TCS contact and call center with voice over the Internet capability.

Mr. Shouekani continued, “The first ninety-day customer expansion is projected to be in excess of 20,000 new users on the Viper Networks system with additional expansion in the near future.”

If you would like to be added to Viper Networks’ Investor list, please send a request to ir@vipernetworks.com .

About Viper Networks, Inc.

Viper Networks, Inc. provides VoIP products and services through distributors and resellers around the world. Its network of VoIP gateways serves more than 350 countries and regions, and it is unique in offering both network services and equipment to its customers. Unlike most competing VoIP providers, Viper Networks offers its service on a pre-pay basis. It charges only for minutes used and does not requiring any monthly fees. Its Internet-based users can get dial-up or broadband service with equal quality. Viper has been pioneering VoIP service and technology for more than five years.

Safe Harbor Statement: 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.

Revenues for the third quarter of fiscal 2005 were $45.7 million compared with $58.1 million in the second quarter of fiscal 2005 and $46.8 million for the third quarter of fiscal 2004. Net loss for the third quarter of fiscal 2005 was $2.7 million or $0.01 per diluted share compared with net income of $9.7 million or $0.04 per diluted share for the second quarter of fiscal 2005, and compared with net income of $10.3 million or $0.04 per diluted share for the third quarter of fiscal 2004.

Revenues for the first nine months of fiscal 2005 were $137.4 million compared with $125.7 million in the same period last year. Net income for the first nine months of fiscal 2005 was $3.3 million or $0.01 per diluted share compared with net income for the first nine months of fiscal 2004 of $18.2 million or $0.07 per diluted share.

Third quarter revenue and earnings per share were lowered by $4.7 million and approximately 2 cents per diluted share respectively, as a consequence of the accounting treatment required for the renegotiation of certain customers’ bundled maintenance and support arrangements in the quarter. This revenue will be recognized in subsequent periods as service revenue.

“While our reported financial results were lowered by the deferral of revenue related to two of our Tier 1 customers based on our accounting policies, our business in the third quarter expanded in several important ways,” said Hassan Ahmed, chairman and CEO, Sonus Networks. “Our global leadership in the VoIP market resulted in the continued solid demand for Sonus’ IP voice solutions from network operators around the world. We extended our wireless business in the U.S. and Japan, announced our first IMS-based consumer voice service in the U.S., achieved strong order activity in Europe, and delivered significant cash flow from operations.”

In the third quarter, Sonus continued to broaden its customer base with the addition of several new customers and expansions of existing deployments. In September at this year’s Fall Voice on the Net (VON) Conference, Sonus announced that Internet Service Provider (ISP) EarthLink selected Sonus Networks as the framework for its complete suite of consumer voice services. EarthLink is deploying key components in the Sonus Networks IP Multi-media Subsystem (IMS)-ready architecture, including the ASX(TM) Access Server, PSX(TM) Call Routing Server, and the Sonus Insight(TM) Management System. With the Sonus ISP solution, service providers like EarthLink are able simultaneously to deliver high quality telephony service and enriched communication applications.

Sonus and AOL announced the rollout of AOL’s TotalTalk(TM), the first IMS-based consumer voice product to launch in the U.S. The two companies, which announced the first phase of their deployment in March 2005, announced that they are working together to deliver the next generation of enhanced consumer voice services that integrate voice, instant messaging and multi-media, as well as solutions that incorporate services based on VoIP/mobile integration.

Intrado, a leader in VoIP E9-1-1 solutions, also deployed Sonus solutions in the third quarter. Intrado is expanding its network coverage to support its VoIP service provider customers in meeting the functional requirements of the recent Federal Communications Commission ruling, which mandates E9-1-1 capabilities for VoIP service offerings. Intrado is leveraging a full suite of Sonus products to support the delivery of VoIP E9-1-1 calls using the Intrado(R) V9-1-1 Mobility Service, offering carriers both the security and point of demarcation functionality critical to delivering emergency services.

Sonus also announced three additional service providers as new Sonus customers in the third quarter: RANGER Wireless, which offers a patented 611 roaming service that enables wireless operators to route roaming calls back to home calling centers; ANI Networks, Inc., which offers wholesale long distance voice service for facilities and non-facilities based communications providers; and Vistula Communications Services, Inc., which provides hosted and managed VoIP services to carriers, service providers and transit network operators throughout the world.

In the third quarter, Sonus, which announced the unveiling of its IMS architecture in June 2005, was honored with a 2005 Frost & Sullivan Award for Technology Innovation in recognition of its achievements in building the industry’s most advanced IMS solutions. The award is presented to the company that has demonstrated technological superiority within its industry, reflecting Sonus’ early focus on building and deploying carrier-class distributed architectures that enable network operators to leverage new efficiencies and to provide a solid framework for the delivery of innovative new subscriber-centric services.

Further reinforcing Sonus technology leadership, at Fall VON Sonus demonstrated a variety of services that leverage the Company’s award-winning IMS platform, such as its pre-WiMAX wireless Voice over Broadband solution. Using Motorola’s Canopy(TM) wireless broadband system with Sonus’ wireless VoBB architecture, service providers are able to architect a carrier class network that meets the growing demand for wireless broadband services.

In tandem with Belkin Corporation, Sonus showcased a new ring tone service that leverages the seamless interoperability between the Sonus-branded line of Belkin’s VoIP broadband phone adapters and Sonus’ industry leading ASX(TM) Access Server. Sonus uses Session Initiation Protocol (SIP) to communicate with solutions from other market-leading vendors and has built one of the largest interoperability programs in the industry.

“This is an exciting juncture in the evolution of the telecommunications industry. Service providers globally are focused on deploying innovative network architectures that not only deliver cost-efficiencies, but also change the way consumers communicate. This is the industry dynamic that Sonus’ solutions were designed to address. As a pioneer and industry leader, Sonus is well positioned to capitalize on the momentum in the market and continue to expand its business,” concluded Ahmed.

About Sonus Networks

Sonus Networks, Inc. is a leading provider of voice over IP (VoIP) infrastructure solutions for wireline and wireless service providers. With its comprehensive IP Multimedia Subsystem (IMS) solution, Sonus addresses the full range of carrier applications, including residential and business voice services, wireless voice and multimedia, trunking and tandem switching, carrier interconnection and enhanced services. Sonus’ voice infrastructure solutions are deployed in service provider networks worldwide. Founded in 1997, Sonus is headquartered in Chelmsford, Massachusetts. Additional information on Sonus is available at http://www.sonusnet.com.

This release may contain forward-looking statements regarding future events that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results. Readers are referred to the “Risk Factors” section of Sonus’ Annual Report on Form 10-K, dated March 15, 2005, and the “Cautionary Statements” section of Sonus’ Quarterly Report on Form 10-Q, dated August 8, 2005, both filed with the SEC, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. Risk factors include among others: the impact of material weaknesses in our disclosure controls and procedures and our internal control over financial reporting on our ability to report our financial results timely and accurately; the unpredictability of our quarterly financial results; risks associated with our international expansion and growth; consolidation in the telecommunications industry; and potential costs resulting from pending securities litigation against the company. Any forward-looking statements represent Sonus’ views only as of today and should not be relied upon as representing Sonus’ views as of any subsequent date. While Sonus may elect to update forward-looking statements at some point, Sonus specifically disclaims any obligation to do so.

Sonus is a registered trademark of Sonus Networks, Inc. The Sonus PSX Call Routing Server, ASX Call Management Server and the Sonus Insight Management System are all trademarks of Sonus Networks. All other company and product names may be trademarks of the respective companies with which they are associated.

SONUS NETWORKS, INC.
Condensed Consolidated Statements of Operations
(In thousands, except per share data)
(Unaudited)

Three Three Three
Months Months Months
Ended Ended Ended
September June September
30, 30, 30,
2005 2005 2004
———- ———- ———-
Revenues:
Product $29,107 $41,339 $36,064
Service 16,550 16,754 10,698
———- ———- ———-
Total revenues 45,657 58,093 46,762
———- ———- ———-
Cost of revenues:
Product 17,410 15,404 6,296
Service 6,073 5,651 4,173
———- ———- ———-
Total cost of revenues 23,483 21,055 10,469
———- ———- ———-
Gross profit 22,174 37,038 36,293
———- ———- ———-
Gross profit %:
Product 40.2% 62.7% 82.5%
Service 63.3% 66.3% 61.0%
Total gross profit 48.6% 63.8% 77.6%
Operating expenses:
Research and development 11,787 11,098 8,975
Sales and marketing 10,834 11,504 10,539
General and administrative 5,455 6,477 6,638
Stock-based compensation 11 4 91
Amortization of purchased
intangible assets - - 601
———- ———- ———-

Total operating expenses 28,087 29,083 26,844
———- ———- ———-

(Loss) income from operations (5,913) 7,955 9,449
———- ———- ———-
Interest expense (121) (121) (117)
Interest income 2,690 2,222 1,150
———- ———- ———-

(Loss) income before income taxes (3,344) 10,056 10,482
(Benefit) provision for income taxes (640) 311 214
———- ———- ———-
Net (loss) income $(2,704) $9,745 $10,268
========== ========== ==========
Net (loss) income per share:
Basic $(0.01) $0.04 $0.04
Diluted $(0.01) $0.04 $0.04

Weighted average shares outstanding:
Basic 248,801 248,249 246,198
Diluted 248,801 250,651 251,707

SONUS NETWORKS, INC.
Condensed Consolidated Statements of Operations
(In thousands, except per share data)
(Unaudited)

Nine Months Nine Months
Ended Ended
September 30, September 30,
2005 2004
————– ————–
Revenues:
Product $92,904 $92,896
Service 44,456 32,759
————– ————–
Total revenues 137,360 125,655
————– ————–
Cost of revenues:
Product 39,657 24,151
Service 16,993 12,659
————– ————–
Total cost of revenues 56,650 36,810
————– ————–
Gross profit 80,710 88,845
————– ————–
Gross profit %:
Product 57.3% 74.0%
Service 61.8% 61.4%
Total gross profit 58.8% 70.7%
Operating expenses:
Research and development 33,902 26,826
Sales and marketing 31,365 26,034
General and administrative 18,732 17,210
Stock-based compensation 15 606
Amortization of purchased intangible
assets - 1,801
————– ————–

Total operating expenses 84,014 72,477
————– ————–

(Loss) income from operations (3,304) 16,368
————– ————–
Interest expense (370) (360)
Interest income 6,787 2,806
————– ————–

Income before income taxes 3,113 18,814
(Benefit) provision for income taxes (233) 598
————– ————–
Net income $3,346 $18,216
============== ==============
Net income per share:
Basic $0.01 $0.07
Diluted $0.01 $0.07

Weighted average shares outstanding:
Basic 248,312 245,394
Diluted 253,221 252,776

SONUS NETWORKS, INC.
Condensed Consolidated Balance Sheets
(In thousands)

September 30, December 31,
2005 2004
————- ————-
(Unaudited)
Assets
Current assets:
Cash and cash equivalents $134,789 $121,931
Marketable debt securities 182,735 170,145
Accounts receivable, net 42,690 32,486
Inventory, net 30,288 28,346
Other current assets 12,637 10,891
————- ————-
Total current assets 403,139 363,799
Property and equipment, net 14,894 8,217
Long-term investments 7,363 21,029
Other assets 720 783
————- ————-

$426,116 $393,828
============= =============

Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable $12,697 $8,654
Accrued expenses 14,489 18,240
Accrued restructuring expenses 193 186
Current portion of deferred revenue 80,968 65,105
Convertible subordinated note 10,000 -
Current portion of long-term
liabilities 45 30
————- ————-
Total current liabilities 118,392 92,215
Long-term deferred revenue, less current
portion 32,392 25,960
Long-term liabilities, less current portion 538 613
Convertible subordinated note - 10,000
————- ————-
Total liabilities 151,322 128,788
————- ————-
Commitments and contingencies
Stockholders’ equity:
Common stock 252 250
Additional paid-in capital 1,055,548 1,049,142
Accumulated deficit (780,739) (784,085)
Treasury stock (267) (267)
————- ————-
Total stockholders’ equity 274,794 265,040
————- ————-

$426,116 $393,828
============= =============

SONUS NETWORKS, INC.
Condensed Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)

Three Three Three
Months Months Months
Ended Ended Ended
September June September
30, 30, 30,
2005 2005 2004
——— ——— ———
Cash flows from operating activities:
Net (loss) income $(2,704) $9,745 $10,268
Adjustments to reconcile net (loss)
income to net cash provided by
(used in) operating activities:
Depreciation 2,154 1,626 1,276
Tax benefit from stock options
exercised (225) 225 -
Stock-based compensation 11 4 91
Amortization of purchased intangible
assets - - 601
Changes in current assets and
liabilities:
Accounts receivable 19,372 (34,431) (3,492)
Inventory 258 710 (7,365)
Other current assets (26) (367) 1,698
Accounts payable 715 1,994 2,473
Accrued expenses and restructuring
expenses (3,374) 314 (3,950)
Deferred revenue (1,501) 22,848 (5,017)
——— ——— ———
Net cash provided by (used in) operating
activities 14,680 2,668 (3,417)
——— ——— ———

Cash flows from investing activities:
Purchases of property and equipment (3,898) (3,070) (2,015)
Maturities (purchases) of marketable
securities, net 1,016 (2,917) (5,649)
Increase in restricted cash (591) - -
Other assets 102 42 102
——— ——— ———
Net cash used in investing activities (3,371) (5,945) (7,562)
——— ——— ———

Cash flows from financing activities:
Sales of common stock in connection with
employee stock purchase plan 2,203 - 925
Proceeds from exercise of stock options 996 461 704
Payments of long-term liabilities (10) (8) (40)
——— ——— ———
Net cash provided by financing activities 3,189 453 1,589
——— ——— ———

Net increase (decrease) in cash and cash
equivalents 14,498 (2,824) (9,390)
——— ——— ———
Cash and cash equivalents, beginning of
period 120,291 123,115 126,235
——— ——— ———
Cash and cash equivalents, end of period $134,789 $120,291 $116,845
========= ========= =========

Valley TeleCom Group, comprising four companies serving subscribers across southeastern Arizona and southwestern New Mexico, today announced that it is deploying 15 softswitches from MetaSwitch with the aim of migrating its entire network to packet-based switching over the next 12 months. According to independent industry experts, the multi-million dollar initiative is one of the most significant wholesale next generation Class 5 switch replacements to date of any North American incumbent operator’s network.

“Although early adopters such as Sprint and Verizon have committed to widescale softswitch deployment, Valley TeleCom may be one of the only U.S. carriers to have actually replaced every single legacy switch in its networks to support both local and long-distance services,” commented Teresa Mastrangelo, Principal Analyst with broadbandtrends, an independent market research and consulting firm specializing in the coverage of broadband infrastructure and services, including Class 5 switch deployments in North America. “Valley’s adoption of MetaSwitch therefore represents a watershed moment in the industry’s acceptance of next generation switching technology, reflecting a trend for carriers to replace their entire networks at once rather than a switch at a time.”

Valley TeleCom Group operates 13 exchanges in Arizona and New Mexico through its subsidiaries, Valley Telephone Cooperative and Copper Valley Telephone. In addition, its CLEC subsidiary, Valley Connections, plans to open another two exchanges in the coming months. The company decided to migrate its network to a packet-based softswitch in order to reduce the cost of network operations, and to prepare for growth in Voice-over IP (VoIP) and Fiber-to-the-Home (FTTH) services. The project is expected to pay for itself within 18 months through network efficiencies, revenues from new services, and the avoidance of maintenance and upgrade fees on the decommissioned legacy switches.

“We realized that, with the advent of next generation technologies, our aging - and costly - Nortel DMS-10s had only a limited useful lifespan,” explained Joe Webb, Valley TeleCom Chief Operating Officer, Plant Administration. “After evaluating many companies and products in depth, our strategic planning team unanimously agreed that MetaSwitch was the only vendor that could actually support replacing our legacy switches while giving us the next-generation architecture and the enhanced services that we required for the future. This decision has been supported by our wholly positive experience during the implementation of our first five switches over the last two months.”

Within the Valley TeleCom network, the 15 new MetaSwitches will eventually deliver voice services over an all-IP access network including Occam Networks broadband loop carriers and Wave7 FTTH equipment. To enable a smooth migration, the deployment plans include a transition period during which both TDM and VoIP access and trunking protocols will be used. MetaSwitch’s support for a wide range of legacy and packet signaling protocols over a unique single-blade universal gateway card design ensures that no software or hardware need be upgraded or replaced as traffic steadily shifts from TDM to IP.

“MetaSwitch has steadily built up a strong reputation for delivering reliable Class 5 capabilities, enhanced packet-based services, and an award-winning IMS-ready softswitch that provides a future-proof architecture bridging the gap between legacy and next-generation voice,” said Mike Ward, Senior Vice President of Sales at MetaSwitch. “We are extremely pleased to be selected as Valley TeleCom’s partner for such an important project and look forward to supporting their legacy switch replacement and enabling the enhanced VoIP requirements and features that will fuel their future growth.”

About Valley TeleCom Group

Valley TeleCom Group comprises four companies serving over 9,500 subscribers in southeastern Arizona and southwestern New Mexico. The Group includes Valley Telephone Cooperative, established in 1962, and Copper Valley Telephone, purchased in 1995 from U.S. West. Valley TeleCom offers an array of services including landline telephone, dial-up Internet, high speed DSL and wireless Internet, premium television, and business systems, in addition to wholesale carrier services based on its state-of-the-art OC192 fiber network that extends from Tucson, Arizona to El Paso, Texas.

About MetaSwitch

MetaSwitch is an industry-leading vendor of IP Multimedia Subsystem (IMS) switching and applications solutions for both packet and circuit-switched networks. Its widely deployed call agent, media/signaling gateway and application server platform supports a full range of legacy Class 4/5 capabilities and hosted unified communications services, and scales from a few hundred to millions of subscribers in both integrated and distributed configurations. Customers include incumbent and competitive local exchange carriers, as well as operators of broadband wireless, cable and fiber networks.

MetaSwitch is a division of established telecom technology provider Data Connection. The company is consistently profitable and privately held, with main US offices in California and Virginia, and European headquarters in London, UK.

Data Connection and MetaSwitch are trademarks of Data Connection Limited and Data Connection Corporation. Brands and products referenced herein are the trademarks or registered trademarks of their respective holders. Copyright (C) 2005 Data Connection Limited