Symphony Telecom (fka SYPY)

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Thursday October 19, 8:48 am Eastern Time
Press Release

Symphony Telecom Completes Asset Purchase from Mondetta Telecommunications, Inc.

TORONTO--(BUSINESS WIRE)--Oct. 19, 2000--Symphony Telecom International, Inc. (OTCBB:SYMY - news), is pleased to announce they have completed the acquisition of certain assets from Mondetta Telecommunications Inc., a privately held Canadian telecommunications service provider which provides international long distance telephone services, directed mostly to retail and residential ethnic populations across Canada, as well as the small business community.

The assets acquired include the customer base, which represents an annualized net operating revenue stream of approximately $5 Million (USD); accounts receivable; name and other intangible assets. Subsequent to the transaction, certain key personnel from Mondetta Telecommunications Inc. will be joining Symphony Telecom Inc.

The transaction was non-cash, with the purchase price of $4,389,311 being satisfied by issue of 1,120,488 144 restricted common shares of Symphony with each common share having attached a warrant to purchase one common share at the price of $3, expiring September 30, 2001. The Mondetta Division will operate under a wholly owned subsidiary of Symphony Telecom Inc., to be called Mondetta Communications Corp.

``Mondetta will provide multi-lingual, customer services and correspondence as well as competitive, flat-rate long distance and calling card rates, both within North America and overseas'' said Gilles Trahan, CEO of Symphony. ``We plan to launch Italian, Portuguese, Polish, Chinese, Ukrainian, and Greek language campaigns. This transaction further enhances our revenue and earnings projections and supplements our aggressive world-wide growth strategy''.

About Symphony Telecom International Inc.

Symphony Telecom International, Inc. is a business-to-business telecom solutions provider dedicated to delivering all the benefits of the Next-Generation Global Telecommunications Network to its customers worldwide. Symphony Telecom International is positioning itself to become North America's foremost Next-Generation Telco, leveraging emerging technologies into a global, sophisticated, and user-friendly array of quality services centered on high speed Internet, Wireless and VoIP.

Website: http://www.symphony.net

Information in this press release contains ``forward-looking statements.'' These statements involve risks and uncertainties that could cause actual results to differ materially. There is no assurance the above-described events will be completed. There can be no assurance of the ability of the company to achieve sales goals, obtain contracts or financing, consummate acquisitions or achieve profitability in the future. The above and additional factors are discussed in detail in the company's filings with the SEC.

Symphony Telecom International Inc. ``The Sound Choice in Communications''


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Contact:

Investor Relations: Alexander Grant & Associates Inc.,
407/804-0909, Fax: [phone]
Or
Symphony Telecom International, Inc.
Gilles A. Trahan, 905/457-4300, 888/479-6746
Fax: [phone]
Email: [e-mail]
Visit our website at: www.symphony.net