TLCO ITS Networks Changes Name to Teleconnect Inc

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Date: March 5, 2005 09:21:58 AM

TLCO ITS Networks Changes Name to Teleconnect Inc

ITS Networks Changes Name to Teleconnect Inc MADRID, Spain LC Group Rick Lutz, 404-261-1196 lcgroup@mindspring.com In Line with Expansion Strategy, ITS Networks Changes Name and Trading Symbol ITS Networks Inc (formerly OTCBB:ITST) announces name change to Teleconnect Inc and trading symbol change to TLCO. ITS Networks, Inc., has made effective today its name change to Teleconnect Inc. as part of its new expansion strategy throughout Europe. Teleconnect Inc will be the holding company for Teleconnect Comunicaciones S.A., the Spainsh Affiliate which is also in the process of changing its name to Teleconnect Espana S.L., as well as for the other Teleconnect affiliates which will start up during the year such as Teleconnect Portugal and Teleconnect Italy. Teleconnect Inc President, Gustavo Gomez explained, "The name change is consistent with our expansion strategy and reflects a new era for Teleconnect. We plan to internationalise the Teleconnect brand and logo associated in Spain with high quality long distance prepaid calling. As such, we will increase our international presence as part of our plan to increase shareholder value." About Teleconnect Inc: Teleconnect Inc. through its wholly owned subsidiary Teleconnect Comunicaciones S.A., a Spanish telecommunications company, is a major player in the prepaid telecoms industry in Spain. Teleconnect, Inc. is traded on a U.S. stock exchange, the Over The Counter Bulletin Board (OTCBB) with ticker symbol TLCO. Teleconnect Inc provides commercial and residential users in Spain with a very competitive array of prepaid services. www.teleconnect.es Forward Looking Statements: Except for the historical information contained herein, the statements in this press release are forward-looking statements that involve risks and uncertainties. Potential risks and uncertainties include, without limitation, continued competitive pressures in the marketplace; the effect competitive and economic factors and the Company's reaction to them may have on consumer and business buying decisions with respect to the Company's products; the ability of the Company to make timely delivery of new products and successful technological innovations to the marketplace; the continued availability of certain components and services essential to the Company's business currently obtained by the Company from sole or limited sources. More information on potential factors that could affect the Company's financial results is included from time to time in the Company's public reports filed with the SEC. Copyright © 2005 Business Wire. All reproduction, other than for an individual user`s reference, is prohibited without prior written permission. News Copyright © 2005 Interest!ALERT All rights reserved.

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