TLL Proshares Ultrashort Telecommunications

Teletouch Communications, Inc. (AMEX:TLL), a leading U.S. wireless communications services company, announced today that it will be presenting at Friedland Investment Event's 2006 Global Equities Conference at the Hard Rock Hotel and Casino in Las Vegas on June 21, 2006. This annual national financial markets and investor conference is being held June 21-23, 2006. Friedland Investment Events LLC is an affiliate of New York-based Friedland Capital, Inc. and Friedland Worldwide. The presentation by Teletouch CEO, T. A. "Kip" Hyde, Jr. is currently scheduled for 2:10 p.m. PST on Wednesday, June 21st and will include a review of the company's last reported quarterly financial results and a further discussion on the company's recently announced strategic shift to providing outsourced cellular-based marketing and infrastructure solutions for national retail chains and brands, including MVNE/MVNO-level implementations, and establishing national distribution for new mobile multimedia content and related applications not currently available in the U.S. market. A downloadable podcast of the presentation will be available through the company and related investor relations websites after the event. Tickets are required to attend the Conference, with complimentary tickets available by applying online at www.friedlandevents.com/lasvegas or calling Jesse Blum, Event Coordinator of Friedland Investment Events, at 866-356-0651. About Teletouch Communications Teletouch offers a comprehensive suite of telecommunications services, including cellular, two-way radio communications, GPS-telemetry and wireless messaging services throughout the United States. TLL acquires, bills and supports a large, primarily commercial business and government base of subscribers, under its own network of FCC licensed spectrum in Texas, Louisiana, Arkansas, Oklahoma, Alabama, Missouri, Mississippi, Tennessee, and Florida. Teletouch's common stock is traded on the American Stock Exchange under stock symbol: TLL. Additional information about Teletouch can be found at: www.teletouch.com. About Friedland Investment Events Friedland Investment Events LLC is the world's largest sponsor of financial and investment events, sponsoring hundreds of events annually, in 18 US cities and 3 European cities. These events include all-day conferences, breakfasts, luncheons and cocktail receptions. Friedland Investment Events LLC is an affiliate of Friedland Capital Inc. and Friedland Corporate Investor Services LLC (www.friedlandworldwide.com). About Friedland Capital Friedland Capital Inc. is a US-based merchant bank and advisory firm with offices in New York, Dallas, Denver, Vancouver, Beijing and Guangzhou. Among its activities, Friedland Capital provides corporate finance advisory services to enable publicly-traded and privately-held emerging growth companies, as well as sponsors of investment programs worldwide to achieve their short-term capital goals, and to realize their long-term business objectives. About the 2006 Global Equities Conference in Las Vegas The 2006 Global Equities Conference in Las Vegas will be held on Wednesday, Thursday and Friday, June 21st, 22nd and 23rd at the Hard Rock Hotel & Casino, www.hardrockhotel.com. Attendees to this event include leading members of the financial community, including portfolio and fund managers, research analysts, investment bankers and brokers, private high-net-worth investors to meet and hear presentations by senior management of select publicly-held and privately-held companies. Event sponsors include Herd on the Street, www.herdonthestreet.com; Wall Street Insider Magazine; and Friedland Capital Inc., www.friedlandcapital.com. All statements in this news release that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of our control, that could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth under the caption "Additional Factors That May Affect Our Business" in the Company's most recent Form 10-K and 10-Q filings, and amendments thereto. In addition, we operate in a highly competitive and rapidly changing environment, and new risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. We disclaim any intention to, and undertake no obligation to, update or revise any forward-looking statement.