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CNVG-- News out today 10/14 http://www.pinksheets.com/pink/quote/quote.jsp?symbol=cnvg



Convergence Technologies Group Incorporated Continues Growth with Further Contract Renewals and an Exclusive Distribution Agreement with Sennheiser

STAFFORD, England, Oct 14, 2008 (BUSINESS WIRE) -- Convergence Technologies Group Inc's (Pink Sheets:CNVG) UK subsidiary Voice 2 Voice Limited continues to accelerate its growth with Support Contract Renewals. The latest contracts have been signed with the largest European food company. Their business philosophy is to work in partnership with their key customers to deliver a product of the highest quality and integrity. They have chosen to renew their Support Contract in line with the acquisitions that have been made within their group, with these new sites requiring integration into the existing backbone supplied by Convergence Technology Group Inc.
During 2008, Convergence Technology Group Inc has doubled its contracts within Government agencies and with contract renewals and extensions, has increased revenue 200% above target with the Group now surpassing $3m revenue contracted for the next 3 years.

This week, Sennheiser UK have chosen Convergence Technologies Group Inc as exclusive Distributor to the Splicecom Channel. Sennheiser Communications offers a world renowned a product range of integrated headset solutions for professional telecommunications and multimedia applications. Their premium telecom products serve to increase the efficiency of communication in contact centers and office environments globally. Through this agreement, Convergence can now offer exclusively this product range to the existing and contracted Sennheiser customers, managing new contracts, extensions and renewals and in one move, significantly expanding the total customer base exclusively available to Convergence Technology Group Inc.

http://www.sennheiser.com/uk/icm_senncom.nsf/root/products_office

CEO Warren Stroud comments: "Our vision is as strong as ever. Our customers are happy and this shows in the renewal in Support Contracts which add stability in the future plans for the group. The agreement with Sennheiser as Distributor for the Splicecom Channel adds extra dimensions to our offering and the exclusive agreement demonstrates the true value that Convergence offers the major players in the Telecoms market. Furthermore, agreements with such high profile partners will expose Convergence to a global audience which will increase and accelerate our already strong revenue growth."

ENDS

This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. The words "estimate," "project," "intends," "expects," "believes," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbour" provisions of the Private Securities Litigation Reform Act of 1995. For a more complete description of these and other risk factors that may affect the future performance of Convergence Technologies Group Inc. see "Risk Factors" in the Company's Annual Report on Form 10-KSB and its other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made and the Company undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.

SOURCE: Convergence Technologies Group Inc