MONTREAL, Jan. 6 /PRNewswire-FirstCall/ -- TeliPhone Corp. (OTCBB: TLPH). TeliPhone reports its 2008 annual results, with sales increasing to $1,215,570 compared with $673,278 for 2007. Gross Margin was likewise up from $193,660 to $394,686. The Company was able to achieve a 104% increase in gross margin with only a 64% increase in operating expenses. With these kinds of results, Management remains confident that it made the right decision in acquiring Dialek Telecom in 2008. Management also highlighted to its auditors the support of the $526,783 of goodwill on the Company's balance sheet. When accounting for financing costs, the Company paid a total of CDN$383,464 for the customer base, however based on the first 10 months of financial performance of the Dialek Telecom Division within the Company, the value of the acquisition was CDN$401,812. "The positive financial results of this first acquisition gave us the experience and confidence necessary to look to continue to grow through acquisitions of telecom service reseller assets", says the Company's CEO, George Metrakos. The Company will now talk to new and current investors to strengthen its balance sheet as it looks to continue to grow in the coming year. About TeliPhone Corp. TeliPhone Corp. is an Internet-based digital telecommunications company employing its own technology. Customers of TeliPhone, primarily small and medium sized businesses, receive more value added services for lower cost when using TeliPhone. TeliPhone specializes in hosted business telephony systems that reduce customer capital equipment costs while offering global incoming and outgoing call services with best-of-breed call quality. For more information, visit the company website at http://www.teliphone.us/. This news release contains forward-looking statements that are subject to various risks and uncertainties. The Company's actual results could differ materially from those anticipated in such forward-looking statements as a result of numerous factors that may be beyond the Company's control. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made, and the Company assumes no obligation to update forward-looking statements should circumstances in management's expectations or opinions change. DATASOURCE: Teliphone Corp. CONTACT: TeliPhone Corp., (212) 738-0008, , http://www.teliphone.ca/investors; Source: TeliPhone Corp.

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