TelePlus Enterprises,Inc (OTCBB:TLPE) Featured on ItsaboutFinance.com : Buys 3rd Largest Sprint Wireless Reseller (CDMA) Liberty Wireless!

TelePlus Enterprises, Inc. (http://www.teleplus.ca) announced today that its wholly owned wireless subsidiary, TelePlus Wireless, Corp. (“TelePlus Wireless”) signed a definitive agreement (the ”Agreement”) to acquire certain assets of Liberty Wireless, which is part of the InPhonic Group. (“InPhonic”).

(PRWEB) January 4, 2006 -- TelePlus Enterprises, Inc. (http://www.teleplus.ca) announced today that its wholly owned wireless subsidiary, TelePlus Wireless, Corp. (“TelePlus Wireless”) signed a definitive agreement (the ”Agreement”) to acquire certain assets of Liberty Wireless, which is part of the InPhonic Group. (“InPhonic”). Under the terms of the Asset Purchase Agreement, TelePlus Wireless will acquire the customer base, trade names, trade marks, domain names, web sites, and other assets of Liberty Wireless for a purchase price of $1.9M, all in cash. $1.4M will be paid upon closing, less any adjustments per the Agreement, and the remaining $500K will be paid quarterly over 4 equal instalments commencing 90 days from the transaction closing date. Teleplus intends to finance the acquisition from cash-on-hand. The effective date of the Asset Purchase Agreement is December 31, 2005. Liberty is the 3rd largest Sprint wireless reseller on the CDMA network (“MVNO”) after Virgin Mobile and Qwest and is in the top 10 prepaid wireless providers in the US.

Simultaneous to signing the Agreement, TelePlus has signed a MVNE (Mobile Virtual Network Enabler) Services Agreement with Mobile Technology Services, LLC (”MTS”), a wholly owned subsidiary of InPhonic, to support on-going back office logistics. Under the MVNE Services Agreement, InPhonic will continue to deliver the systems platform for procurement, activation, billing, and customer care, as well as self-service platforms based on web and state-of the-art speech recognition technology. For full details please review TelePlus’ latest 8-K filings. On a separate matter TelePlus would like to inform investors that it has ended discussions and decided not to proceed at this time with the acquisition of Canada Reconnect announced last year.

“The acquisition of Liberty Wireless represents a significant milestone for TelePlus Wireless as we seek to expand our MVNO (Mobile Virtual Network Operator) in the United States,” stated Marius Silvasan, CEO of TelePlus Enterprises. “In addition to improving the scope of our nationwide coverage, we will see exponential growth of our customer base. The synergies between Liberty Wireless and our existing MVNO are evident and we couldn’t be more excited to kick off the new year with such an event. We anticipate a seamless transition for all Liberty’s customers and would like to take this opportunity to welcome them in the TelePlus family.”

“We are very pleased that TelePlus is acquiring the Liberty Wireless customer base. Our customers will continue to receive the same great service and coverage without interruption,” said David A. Steinberg, InPhonic’s Chairman and CEO. “From a strategic standpoint, we will be able to focus our attention on profitably growing our core business. In addition, we will no longer be competing with our carrier partners and more importantly we are now able to sell the carrier’s prepaid products as well as Liberty Wireless for TelePlus.”

About TelePlus http://www.TelePlus.ca

TelePlus Enterprises, Inc. (“TelePlus”) is a provider of Wireless and Telecom products and services across North America. TelePlus Connect, Corp. - is a reseller of a variety of Telecom services including landline, long distance and internet services. TelePlus Wireless, Corp. - operates a virtual wireless network selling cellular network access to distributors in the United States. TelePlus Retail Services, Inc. - owns and operates a national chain of TelePlus branded stores in major shopping malls, selling a comprehensive line of wireless and portable communication devices.

About InPhonic (NASDAQ: INPC)

Headquartered in Washington, D.C., InPhonic, Inc. is a leading online seller of wireless services and products. InPhonic sells these services and devices, and provides world-class customer service through websites that it creates and manages for online businesses, national retailers, member-based organizations and associations under their own brands. InPhonic also operates Wirefly (www.wirefly.com), a leading mobile phones and wireless plans comparison site that was awarded "Best of the Web" by Forbes magazine in 2004. InPhonic also delivers a full range of mobility solutions to enterprise clients through its Mobile Virtual Network Enablement (MVNE) platform. In 2004, InPhonic was selected #1 company of the year on the Inc. 500 – Inc. Magazine's list of the fastest-growing privately held companies in the United States. More recently, InPhonic was named T-Mobile's Internet Partner of the Year for 2004. For more information on the company, its products and services, visit the InPhonic Corporate Web site at www.inphonic.com.

The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development and acquisition of new product lines and services, government approval processes, the impact of competitive products or pricing from technological changes, the effect of economic conditions and other uncertainties, and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on Form 8-K. TelePlus Enterprises, Inc. takes no obligation to update or correct forward-looking statements.

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