Amitelo Communications, Inc. Announces the Signing of a Letter of Intent to Acquire GNT Global Network Telephone GmbH.

Business Editors/High-Tech Writers

ORLANDO, Fla.--(BUSINESS WIRE)--Jan. 23, 2004

Amitelo Communications, Inc. (OTC:ALOC) announced today it has signed a letter of intent to acquire GNT Global Network Telephone GmbH and is immediately beginning preparations for a listing on the OTC Bulletin Board. GNT is a German telecommunications operator and an international carrier. The company has revenues of approximately $28 million US for 2003 and anticipated revenue of $37 million US for 2004. GNT's assets are valued at approximately $16 million US.

GNT is a national German Telecommunications Operator and an international Carrier, owning a European and International Network with worldwide coverage: Europe, USA, Africa and the Middle East. The company has offices in Celle (near Hanover), Frankfurt, London, Milan, New York, Casablanca, Lome, and Beirut. The company does count more than 60 Carriers' Interconnects in Frankfurt, 35 Carriers' Interconnects in London, 15 Interconnects in Milan and over 30 Carriers' Interconnects in New York. The company has carried over its own international Network a total of approximately 1 billion switched minutes of international traffic per annum, 35% of which is purely based on VoIP.

"With GNT's International Network capabilities and worldwide services coverage in 4 continents, Europe, USA, Africa and the Middle East, we will be able to design and offer new VoIP and future generation's value added Services worldwide," said Amitelo's CEO, Khaled Akid. He added: "We are looking at the various advantages and assets that GNT could bring to Amitelo. Merging with GNT means a consolidation of both companies' businesses undertaken towards reaching both business aims faster." He continued: "Demand for Amitelo's and GNT's VoIP service packages delivered by satellite broadband connectivity is growing worldwide, and is especially popular in markets such as Africa and the Middle East, where terrestrial and Internet infrastructure is weak or non-existent and phone calling is costly."

"We firmly believe that Amitelo's innovative business model and its concentration on delivering high quality Broadband and VoIP Services in the emerging markets in Africa and the Middle East would definitely constitute a major expansion opportunity for GNT to enhance and expand its services in these regions," commented GNT's CEO Jan Malkus. He added, "We are keen to study all the advantages of this merger's opportunity and its immediate impacts on the growth of GNT and Amitelo." He continued, "We believe that GNT and Amitelo can deliver a complete packaged solution to new established carriers in those markets, delivering an IP backbone for Internet services, carrying VoIP Traffic into and out of these countries at low cost. We further believe that this integrated package will increase speed to market and give the new Carriers a significant edge in increasing market share."

About Amitelo:

Amitelo Communications Inc. is an international telecommunications and Internet service provider company. Amitelo's core business is dealing with the delivery of high quality Telephony & IP services. The company's concentration is on providing both VoIP Voice over IP services and DSL / Broadband via Satellite in regions lacking connectivity. Several parts of southern Europe, many regions in Africa and the Middle East currently lack connectivity. The company is currently dealing with Internet & Voice traffic generated by its international subscribers and is in the process of establishing its POP Point of Presence / International Telephony Gateway in Frankfurt, Germany to perform several interconnects with reputable carriers. Amitelo will then develop its carrier services in order to achieve good quality of international lines and competitive market rates. The company's Management has over 70 years of combined experience in almost all aspects of Information Technology and Telecom.

For more information on Amitelo Communications Inc., please visit the Company's website at: http://www.amitelo.com.

Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, but not limited to, continued acceptance of the company's products and services, competition, new products and technological changes, as well as any and all "other risks" associated with business.