EXHIBIT 99.1
TELECOMMUNICATION PRODUCTS CEO ADDRESSES SHAREHOLDERS
HOLLYWOOD FL: June 1, 2004: Telecommunication Products, Inc. (OTC BB: TCPD)
("Telpro"), a provider of Pay per View and Digital Satellite Services to the
hospitality industry, today issued the following letter to its shareholders.
Dear Telpro Shareholder:
As the CEO of Telpro, I am pleased to provide you with an update on our positive
progress over the past three months. Fundamentally, things have never been
better for Telpro. We have closed on a number of strategic agreements with the
potential to grow our top-line. The continued consolidation of operations and
resulting cost savings also positions us to positively impact our bottom-line.
I am pleased to share with you a number of Telpro's recent achievements. First,
our wholly owned subsidiary, Hotel Movie Network (HMN) entered into an agreement
with a global, leading manufacturer of consumer electronics to provide access to
"Smart TV" technology. HMN is now equipped to enhance existing remote control
interfaces with proprietary protocols for both the mid-market and high-end
hospitality properties. We are leveraging our access to "Smart TV" to enhance
profitability from our inventory of over 140,000 compatible set top boxes and to
increase deployment across the U.S. and expanding international markets.
Second, HMN entered into an agreement with InnNovations Multimedia Systems Inc.,
a wholly owned subsidiary of Integen Technologies Inc of Calgary, Alberta, to
service up to 5,000 rooms in Canada with its digital programming services,
supporting our North American expansion strategy.
Third, Telpro's planned acquisition of Eagle West, a U.S. cable operator, is
moving forward, as the Bankruptcy Court has approved 27 out of 28 Eagle West
franchises for acquisition by Telecommunication Products. Eagle West strengthens
our capabilities in the fastest-growing area of bundled high-speed Internet and
digital entertainment programming and services, and brings a strong sales
pipeline to the Company.
We are on target to meet the goals outlined in our business plan this year,
which include continued expansion of our customer base through the leverage of
contracts with Hotel Sales & Marketing groups and the rollout of our new full
digital services package through our strategic partner B2 Networks LLC. Through
this partnership, we rolled out "B2 Digital" that combines state-of-the-art
wireless Internet service with Pay Per View and Satellite TV content, in
addition to delivering in-room Special Events and Sports entertainment. We just
signed our first full digital service customer as a result of this relationship,
and expect additional contracts to follow.
I believe we have only begun to demonstrate our potential to the marketplace. We
are excited about the future and expect to continue our path of growth and
development. As always, we appreciate your support and look forward to reporting
on our progress.
Sincerely,
Robert Russell
CEO, Telecommunications Products, Inc.
About Telecommunication Products, Inc.
Telecommunication Products, Inc. ("Telpro") is a provider of video-on-demand and
pay-per-view services to the hospitality industry. The Company is also currently
marketing high speed Internet access products, including high end WiFi. Telpro
is committed to delivering the next generation of interactive communication
services to its growing database of clients. For additional information, please
see www.tellapro.com or for Investor Relations go to: http://www.otcfn.com/tcpd.
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This press release contains forward-looking statements involving risks and
uncertainties including statements regarding the Company's future performance.
Such statements are based on management's current expectations and are subject
to certain factors, risks and uncertainties that may cause actual results,
events and performance to differ materially from those referred to or implied by
such statements. In addition, actual future results may differ materially from
those anticipated, depending on a variety of factors which include, but are not
limited to, our ability to leverage our technology, manage our growth, protect
our intellectual property rights, attract new customers and general economic
conditions affecting consumer spending, including uncertainties relating to
global political conditions, such as terrorism and the conflict with Iraq.
Information with respect to important factors that should be considered is
contained in the Company's Annual Report on Form 10-KSB as filed 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
hereof. The Company does not intend to update any of the forward-looking
statements after the date of this release to conform these statements to actual
results or to changes in its expectations, except as may be required by law.
Contact:
Geoffrey Eiten
Investor Relations
OTC Financial Network
781-444-6100 ext. 613