Abbeynet Raises Over $8.5 Million to Develop an IP Set-Top-Box and Content Delivery Platform Integrated to its Web and Mobile VoIP Platform.

CAGLIARI, Italy -- IP Set-Top-Box - MPLAY - Brings the Abbeyphone platform- Voice over Web (VOW), Mobile VoIP, Instant Messaging & Presence Service Offerings into the Living Room

Abbeynet, a leading developer of Voice over Web (VOW), mobile VoIP, Instant Messaging and Presence Server technology, announced today that it has secured over EUR 7 million ($8.5+ USD) in funding for MPLAY, a wholly owned subsidiary, to develop an IP set-top-box (STB) and a content delivery platform for television and video on demand which will integrate to its existing Abbeyphone(TM) voice and video conferencing platform. Abbeynet currently enables large companies to offer their communities and customers best of breed Voice over Web (VOW), mobile VoIP, IM, rich presence service offerings via its Abbeyphone(TM) platform which is an advanced end-to-end VoIP technology platform and fully hosted and managed service on a private / white label basis. Abbeyphone(TM) also contains an advanced service creation platform enabling customers to create customized service offerings for their users.

The MPLAY IP set-top-box will connect directly to a television set and also to the Internet bringing not only streaming television and video on demand, but also the full Abbeyphone(TM) platform which today provides voice, video conferencing, Instant Messaging (IM) and advanced presence to a variety of devices and end-points ranging from web browsers, IP phones, mobile phones and PDAs.

Gianluca Dettori, founder and President explains his existing business, "Abbeynet's business is moving the multi-billion dollar calling card business directly to the web. Rather than sell calling cards in shops we have enabled big brands to offer free PC to PC web based calls from their portals and low cost prepaid calls to the PSTN and mobiles. Our product is totally web based. So no need to download, install or configure any client software - just click and speak." Dettori comments, "We now have this working across multiple devices and plan to target the television next." Dettori comments, "The funding for MPLAY not only represents an additional revenue stream for Abbeynet's customers, but also a logical progression and extension of Abbeyphone(TM) - our core VoIP technology platform." Dettori continues, "Our voice and presence server technology currently operates across an array of web browsers, mobile phones, IP phones and PDAs. The MPLAY STB project extends this into the living room, enriching the way we flexibly work and play."

Luca Filigheddu, CEO of Abbeynet suggests, "Abbeynet is different from other VoIP companies firstly because we own all of our own technology which we create in our own labs with a team of over 60 developers. Secondly, we think most VoIP companies are simply recreating what the conventional PSTN and PBXs have done in the past." Filigheddu continues, "We have successfully married the web to IP voice and video which 'humanizes' the web enabling our clients with large web portals such as the most important newspaper in Italy or the largest radio station to enable its web users to actually speak, chat and see each other via their web portal powered by valuable presence server features integrating multiple applications." Filigheddu comments, "We are embedding voice pervasively not only into the web but into CRM applications and desktop tool bars much like the Google search bar and bringing in added layers of value from our presence server such as directories and location positioning via online mapping systems. Clearly this is something that increases sales, lowers costs and strengthens the value of portals and communities." Filigheddu explains MPLAY, "Now that we have successfully created a fully integrated Voice over Web platform that seamlessly runs across mobiles, and PDAs bridging to the PSTN and conventional cell phones, we plan to do the same thing right in the living room via the television set. To do this we need to integrate the MPLAY set-top-box and content delivery platform." Filigheddu offers, "Finally, there will be something interesting on your TV."

Andrew Romans, Managing Partner at Georgetown Venture Partners LLP who is advising Abbeynet states, "Abbeynet built Abbeyphone(TM) with less than EUR 8M in funding from the Italian Ministry. The recent closing of an additional EUR 7M from Italian government and other EU sources will enable Abbeynet to quickly develop MPLAY and provide the world's first fully integrated system of presence server intelligence with IM, voice and video communication which will drive a Web 2.0 experience of amateur and major studio generated and controlled content." Romans continues, "Abbeynet's MPLAY will usher in a new era of truly interactive TV. The television will finally benefit from the Internet not only as a delivery platform, but also in a Web 2.0 sense providing users with a much richer and flexibly customized experience. With the core product in full production and MPLAY R&D fully funded, Abbeynet is currently in active discussions with venture capital and private equity firms in the US and Europe seeking to raise expansion capital for sales & marketing."

About Abbeynet & MPLAY

MPLAY was established to develop a range of IP set-top-boxes and a flexible content delivery platform that integrates to the Abbeynet Voice over Web (VOW), mobile VoIP, Instant Messaging and presence server platform. MPLAY is 100% owned by Abbeynet. Abbeynet was founded in 2000 and has received over EUR 7 million in funding to date from the Italian government and other EU organizations. Abbeynet was appointed a member of the Pulver 100 which lists the 100 most important and influential companies worldwide in the VoIP space. Abbeynet was also ranked number one among over 250 companies that received government funding. MPLAY was ranked number 17 among over 750 Italian companies to receive funding in 2006. Abbeynet currently offers carriers, ISPs, e-commerce companies and non-telco companies with large brands and portals the ability to offer a fully managed voice and video conferencing service that can be delivered via web browsers, mobile phones, PDAs or IP handsets connected to the Internet. Abbeynet manages all aspects of the end-to-end platform including ongoing voice termination, DIDs (phone numbers), voice mail, quality of service measurement, hosting, etc. and guarantees 30 days time to market from signature for new client deployments. Abbeynet currently serves some of the largest incumbent PTTs, competitive carriers, ISPs as well as scores of media companies and large Internet portals. www.abbeynet.com