Internet Telecommunications Plc ('IT') Announces Significant New Commercial Contract.

LONDON -- Green Mountain Capital Inc (OTC Bulletin Board: GMOC) reported today that Internet Telecommunications Plc ("IT") has signed the first of a 4-part contract to host co-location services using its new switch facility.

The 4-part contract will cater for over 58,000,000 minutes of traffic per year and is estimated to represent an additional approx. $7 million of annual revenues to IT's business in 2007. The second part of the contract expected to be signed this week deals with Public IP interconnect and switch partitioning to generate the flow of minutes from the start of January 2007. The third and fourth parts of the contract will be concluded by the end of the year and deal with management services to include VoIP partitioning and mobile call handling facilities.

IT's New switch facilities located in London now offers a variety of additional value-added services for any Company located any where in the world. These services include Co-Location facilities, VoIP Internet Hosting, IP Bandwidth, Leased Circuit facilities, Carrier Services, Indirect Access and Management Services for customers wishing to take advantage of our excellent termination rates for calls to mobiles and fixed lines to all destinations around the world

Dr. Fredrik Verkroost, Chairman of Green Mountain Capital, said "thanks to the relocation, installation and commissioning of our switch facility over the past months, we now have the space and capacity with the switch to host a multitude of carriers and resellers. This new contract is the first to be successfully concluded and is a new line of business and complementary to IT's core business of wholesale line rental (WLR) and airtime services. There's nothing like starting 2007 off with as bang!"

Richard Meagher, Director of Operations, at Internet Telecommunications Plc ("IT") said "We expect to sign similar contracts in the year ahead with a number of additional carriers that require co-location hosting services. They will benefit from the comprehensive facilities at IT's disposal and the full security of carrier class hosting facilities. Carriers will also love the advantage that they can gain from our high levels of quality and our competitive wholesale pricing and call transit rates. We can see this boosting IT's revenues even further."

Based on IT's own research we believe that IT offers one of the lowest cost bases in the UK for providing carrier hosting services. IT's flexibility to adapt to customers urgent needs with a least amount of hassle will save them time and earn them extra margins - key ingredients for closing these deals. IT has built an aggressive marketing plan to capture a share of this business, which in turn will benefit carriers based in the USA and Europe that urgently require a cost-effective presence in the UK.

IT's facilities are now in position and offer a wide variety of services as part of our 'multi-play' one-stop shopping for any new or existing telecoms company looking for better margins in this competitive marketplace.

About Green Mountain Capital

Green Mountain Capital merged with Internet Telecommunications Plc of the UK ("IT") in May 2006 to become a leading global provider of telecom services. In its first full year of business, IT achieved $19.8m in revenues and $0.5m EBITDA in 2005 though its successful and seasoned management team. Green Mountain Capital is now established as a fast expanding wholesale carrier-operator supplying service providers and businesses with low cost telecommunications lines as well as competitive and high quality airtime services including voice, data, value-added services such as SMS, and carrier services such as Voice-over-Internet Protocol (VoIP).

Forward-Looking Statements 

This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.