Interlink Global Corp. (fka ILKG)

[Jagman]

Another customer: Interlink Global Announces Execution of Agreement to Acquire Ifestos Communications, a Leading Broadband Provider to Office Buildings in New York and Washington DC
Monday October 24, 4:03 pm ET
Interlink to Acquire an Additional $200,000 of Gross Revenues Per Month Through the Acquisition


MIAMI--(BUSINESS WIRE)--Oct. 24, 2005-- Interlink Global Corp., (OTC: ILKG - News), "Interlink" today announced that the Company has signed a Letter of Intent to acquire control of Ifestos Communications Inc, a New York based company providing wireless broadband and data services to corporate clients located in forty offices buildings in the New York and Washington DC. areas. Interlink will be acquiring 51% of the stock of Ifestos in a stock exchange for Interlink restricted stock valued at $250,000, and has agreed to provide up to $1 million of expansion capital for the company. The closing will be completed by the end of October. The agreement also provides an incentive for the management and shareholders of Ifestos to earn an additional 1 million Interlink shares if certain revenue and market penetration goals are met over the next two years.

Ifestos is a five-year-old company that provides wireless broadband and data services to corporate clients located in over 40 major office buildings located primarily in New York City and Washington DC. The company has agreements with an additional 60 office complexes to provide similar services to their corporate clients, which it will begin to service with the expansion capital committed by Interlink as part of the acquisition. Ifestos will also immediately introduce the VOIP services of Interlink to its various corporate customers. Current gross revenues of Ifestos average $200,000 per month, with a minimum of $160,000 per month being recurring contractual revenue from its customer base, with the remainder being engineering services for specifically designed data systems tailored to the individual needs of the clients. The management team of Ifestos, headed by Michael Panayiotis, will remain with the company after the acquisition. Interlink and Ifestos contemplate a rapid joint expansion of the revenue bases of both Ifestos and Interlink as a result of the offering of Interlink's VOIP services to the existing clients of Ifestos, as well as joint marketing efforts to offer the combined Ifestos and Interlink data and voice services to clients located in the other 60 office buildings that Ifestos has contracts with. There are plans to expand the combined product and service offerings of both companies to Interlink's base of domestic and international clients.

Anastasios Kyriakides, CEO and Chairman of the Board of Interlink stated: "We are pleased to add Ifestos, and its seasoned management team to the growing list of Interlink's synergistic family of companies. Ifestos and Interlink are a natural fit to provide joint voice and data services to our combined client bases. We expect substantial synergistic cost savings through this acquisition by combining the offices of Ifestos and Interlink Global Communications, our wholesale subsidiary, in New York and the combining of our marketing teams to offer both services to existing and potential clients. We are also pleased to be bringing into our management team a person of the quality of Michael Panayiostis, who has over 20 years of experience in the telecom and data services industry. His engineering and management talents will be utilized by Interlink, not only in the immediate expansion of Ifestos, but also on several international projects that we are building that require wireless broadband data services expertise. We are continuing our rapid expansion through both internal growth and strategic acquisitions that expand our foothold as one of the leading providers of wireless broadband and VOIP services to the domestic and international corporate marketplace."

ABOUT INTERLINK GLOBAL

Interlink Global (OTC: ILKG - News), founded in 2002, provides telecommunication solutions around the world. As a leader in hosted VoIP telephony services, Interlink Global is currently doing business in North America, South America, Europe and Asia. Interlink Global provides SIP-based broadband telephony solutions, WiFi, WiMax, Marine Satellite Services, calling cards, and other enterprise services internationally. Interlink Global, using VoIP technology, provides long distance telephone services, with full features, at prices that are greatly reduced in comparison with traditional telephone companies. For more information about Interlink Global's products and services, please visit http://www.interlink-global.com/.

FORWARD LOOKING STATEMENTS

This press release includes "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.



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Contact:
Interlink Global
Steve M. Gardner, 305-261-2007
www.Interlink-Global.com



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Source: Interlink Global