Petel Incorporated Announces Final Stages of Business Combination With a2a Group PLC

Petel Incorporated Announces Final Stages of Business Combination With a2a Group PLC

Pink Sheets - PTEL.pk

LONDON, June 14/PRNewswire-FirstCall/ -- Petel Incorporated can today announce that they are in the final stages of a Business Combination with UK broadband television technology visionaries a2a Group PLC.

A business combination allows the two companies to remain intact, each trading on its respective exchange, whilst pooling resource and capital. Petel Incorporated are overseeing the final UK legal requirements to effect the transaction. On completion, the previously detailed 1-for-1 share exchange will be actioned. It is anticipated this will be no later than week commencing 2nd July 2007.

The business combination delivers significant benefits to both parties:-

Petel Incorporated:

- In-house channel management and broadcast platform technologies.

- Acceleration of schedule to launch non-adult broadband television channels.

- Complete end-to-end channel management, from production through to delivery.

a2a Group PLC:

- Restructure, with successful management input from Petel Incorporated.

- Management input will deliver revenue generating status within 6 weeks of completion.

- Design and production facilities available in-house, reducing significant third party costs.

- Market management.

- Marketing input and support.

- Contract management and development with major global brands.

- AsiaPac market development in conjunction with experienced Petel Incorporated management team.

Further information will be released on completion.

For more information please contact: investors@petel.co.uk Or visit: www.petel.co.uk

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 Petel, 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: Petel Incorporated

Contact: Nik Ellwood, +44-(0)845-0344-097

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Profile: International Entertainment