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Lit Fiber # five

Group: Lit Fiber
Posts: 22
Joined: Dec. 2003 Posted: May 27 2004,20:07

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$7 Million Deal With Indian Nations / $2.1 Million Net Profit

LitFiber Inc. (OTC: LTBI) a provider of wireless and IT professional services, announces it has completed a draft of a $7 million licensing agreement to provide telephony security and technology solution to Indian Nations.
Litfiber's flagship product, iTALK, is the industry leader in secure, low cost worldwide VoIP communication. iTALK boasts a feature set including H.323 compliancy, PC to PC calling, Instant Messaging, and user search tools while full motion video and file transfer is in development.

"As new forms of electronic gaming devices are being implemented by tribes, North America's oldest cultures and the world's newest technologies must intersect," said John D. Jarvis, Chairman and CEO of Litfiber. "Indian Nations expanding to online lotteries, bingo and casinos are keen to license emerging technologies which allow them to operate gambling sites with maximal cost efficiency."

"LTBI projects net profit on the agreement of approximately thirty percent, or $2.1 million," added Jarvis.

* The final transaction, subject to the signing of definitive agreements and customary closing conditions, is expected to close on June 15, 2004.

LitFiber is a full service, engineering based, Fixed Wireless, Web Development and Telecommunications Company. LTBI combines expertise in wireless business communication systems, system integration, computer telephony software deployment, IP telephony, data networking with unparalleled customer service. Founded by John D. Jarvis Jr., LitFiber built its business first and foremost by providing cutting edge solutions based on real world needs which could only be solved by custom design. Please visit www.litfiber.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements, other than the statements of historical facts may be deemed to contain forward-looking statements with respect to events, the occurrence of which involves risk and uncertainties, including, without limitation, demand and competition for the company's products and services, the availability to the company of adequate financing to support its anticipated activities, the ability of the company to generate cash flow from operations and the ability of the company to manage its operations.



Contact:
LitFiber Inc.
http://www.litfiber.com http://www.litfiber.com/italk

John D. Jarvis Jr.
Chairman/CEO
LitFiber Inc.
[e-mail]
Vox: 281.255-9424, ext. 100

Edited by ricky on May 27 2004,20:09