Telynx (fka TLYN)

[DueDillinger]

New President/CEO Denounces All Statements and Misrepresentations by Gabor Acs

5/26/04

(Sherman Oaks, CA May 11, 2004) In an effort to set the record straight and thwart the plethora of recent illicit Internet postings, Paul Mataras, new President/CEO of Telynx, Inc. (TLXX) officially denounces all the statements and misrepresentations by Gabor Acs regarding Telynx and its current officers. The company and its officers have no associations whatsoever with Acs or any of his associates.
"With the user name "thepennyking," Mr. Acs has recently been posting libelous, irrelevant, and distasteful posting concerning the new management team at Telynx. With respect to the superfluous postings throughout the Internet by Mr. Acs, they are without merit. In fact, the current administration has formally requested that Mr. Acs be removed from the IHUB message board and that the messages be stopped. A formal written request and notice was also made that all previous posting of "thepennyking" be deleted," continues Mataras.
Furthermore, the company is in the process of bringing legal action against all the misrepresentations and false statements made by Acs in his different Internet postings as well as all the Press Releases made about Telynx over the last year.
Mataras definitively declares "Mr. Acs illegally misrepresented himself as the majority owner of Telynx shares to the public. Mr. Acs is a convicted felon and was involved in a number of illegal stock exchange transactions as well. Recently, the SEC handed down a 21-counts complaint against Mr. Acs and his company Penny King Holdings of which we believe he pled guilty to all 21 counts."
"It is our sincerest hope that Mr. Acs will hence forth behave legally, morally, and ethically." concludes Mataras.
Telynx is a leader in telecommunications infrastructure management systems. The company supplies software and professional services for Operations Support Systems (OSS) of telecommunications industry and for general enterprise networks. Telynx's customers include clients in the telecommunications industry and Fortune 100 financial institutions. Telynx trades on the Pink Sheets under TLXX.
MEDIA CONTACT: Michael Conley
CONLEY COMMUNICATIONS
818.389.3577

Except for the historical information, the matters discussed in this news release are forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Factors that could effect results include the mix of business between product and services; the type and size of customers doing business with the company and the structure of those transactions, their products and services requirements and the impact of timing of revenues relative to expenses; timely development, introduction and acceptance of new products and enhancements to existing products and evolving markets; expansion of the company?s ability to consummate relationships with alliance partners; the impact of competitive announcements and products; the rate of growth of the market in which the company competes; acquisition activities and the ability to integrate acquired businesses successfully; the impact of changes in accounting standard; the effects and rate of change in standard platforms for telecommunications products; as well as the risk factors listed from time to time in the company?s U.S. Securities and Exchange Commission (SEC) reports. The company assumes no obligation to update the forward-looking statements included in this news release.

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