CabelTel International Corporation Reports 2006 Results.

DALLAS -- CabelTel International Corporation (AMEX:GBR)("the Company"), a Dallas-based company with investments in a retirement center and a North Texas outlet mall, today reported a net income of $1,301,000 or $1.32 per share for the twelve months ended December 31, 2006, compared to a net loss of $986,000 or $1.01 per share for the year ended December 31, 2005.

Revenues and Operating Expenses from operations of a retirement facility: Revenues were $2,695,000 in 2006 as compared to $2,597,000 in 2005. Retirement operating expenses, which consist of assisted living operations expense, lease expense and depreciation and amortization, were $2,130,000 in 2006 as compared to $2,006,000 in 2005.

Revenues and Operating Expenses from operations of an outlet mall: Revenues were $1,235,000 in 2006 as compared to $1,501,000 in 2005. Operating expenses were $1,760,000 in 2006 as compared to $1,845,000 in 2005. The decrease in revenue is due to the net reduction in occupancy and rent adjustments for several tenants. The increase in expenses is due to overall operating costs throughout the operation.

Corporate General and Administrative Expense: These expenses were $1,091,000 in 2006 and $1,191,000 in 2005. During 2006, the Company reduced certain salary and personnel expenses that existed in 2005.

Other Income (Expense): Other income was $2,584,000 in 2006. In June 2006, the Company rescinded its acquisition of CableTEL AD and received a break up fee of $1,500,000 which resulted in net income, after deducting expenses, of $1,467,000. In addition, in November 2006, the Company settled a third party obligation and recorded a gain on such settlement of $1,021,000. Additionally, the Company collected payments on certain receivables that were previously written off.

Interest and Dividend Income: Interest and dividend income was $447,000 in 2006 and $700,000 in 2005. During 2006, the Company recorded interest income of $314,000 from funds it had advanced to CableTEL AD for operations and acquisitions in Bulgaria as compared to $515,000 in 2005.

Interest Expense: Interest expense was $924,000 in 2006 and $1,161,000 in 2005. During the fourth quarter of 2004 and continuing through 2005, the Company borrowed a total of $7,200,000 which it advanced to CableTEL AD for operations and acquisitions in Bulgaria. The interest expense on this debt was $314,000 in 2006 as compared to $515,000 in 2005. As part of the agreement to rescind the acquisition of CableTEL AD, a corporation affiliated with one of the original sellers assumed from the Company all indebtedness incurred by the Company in connection with or related to advances by the Company to CableTEL AD or its affiliates to fund the operation of CableTEL AD. In exchange the Company surrendered all claims it had against CableTEL AD or its affiliates for reimbursement for such advances.

Discontinued Operations: During 2006, the Company sold Gaywood Oil and Gas. During 2005, the Company disposed of an assisted living community in South Carolina. During 2004, the Company disposed of assisted living communities in Georgia and Washington. In addition, the Company entered into a contract to sell a third assisted living community in North Carolina, which was sold in January 2005. These were reflected as assets held for sale.

Certain statements in this media release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. The words "estimate", "plan", "intend", "expect", "anticipate", "believe" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are found at various places throughout this Report and in the documents incorporated herein by reference. CabelTel International Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Although we believe that our expectations are based upon reasonable assumptions, we can give no assurance that our goals will be achieved. Important factors that could cause our actual results to differ from estimates or projects contained in any forward-looking statements are described under ITEM 1A. RISK FACTORS in the Company's Form 10-K for the fiscal year ended December 31, 2005.

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