[May 25, 2005] Payless Communication Holdings, Inc. Announces Joint-Venture with P.R.G. de Honduras Tweet HALLANDALE BEACH, Fla. --(Business Wire)-- May 25, 2005 -- Payless Communication Holdings, Inc. ("PCH") (OTC: PCNH) today announces to its shareholders that it has entered into a Joint Venture Agreement with P.R.G. de Honduras ("P.R.G."), Central America. P.R.G. de Honduras is currently an "ISP", Internet Service Provider. P.R.G. has established a diversified customer base comprised of corporate, government and retail consumers. The joint-venture will enable PCH and P.R.G. to capitalize on the deregulation of the country's government owned Telephone Company. PCH's operating companies and affiliates have been strategically positioning themselves to take full advantage of the licensing and concession opportunities that should result from the deregulation of the telecommunication sectors in those areas where PCH has established strong strategic alliances. PCH intends to fulfill the tremendous demand for telephone services in Central and South America and the Caribbean by combining its IP Telephony and Data Services Program with proven WiFi technology. The joint-venture plans to provide P.R.G.'s existing data customer base with PCH's VoIP and WiFi Technology and offer a voice solution that will significantly lower inter-office and in-country telecommunication costs by creating VPN's ("Virtual Private Network"). It is further established in the Joint-Venture Agreement that PCH and P.R.G. will pursue an Operator Certificate in order to become a fully operating telephone company offering a triple play (voice, data and video) of services. "PCH's plan is to combine this operation with its USA operations in order to bring friends and family a step closer through offering advanced technology," stated Ricardo J. Canal, President and CEO of Payless Communication Holdings, Inc. Statements in this press release that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing and access funds from our existing financing arrangements that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. [ Back To TMCnet.com's Homepage ]