Epixtar announces agreement for additional financing

Monday, July 25, 2005

(Manila, Philippines, July 25, 2005)  Epixtar Corp., the parent corporation of Epixtar Philippines IT-Enabled Services Corporation, a global teleservices provider with operations in the Philippines, announced an agreement with Laurus Master Fund, Ltd. (Laurus) for additional financing.

According to Irving Greenman, President, the additional financing will be used to finance accelerated development of the company’s contact center facilities in Eastwood City. The Eastwood facility will employ almost 2,500 agents when fully operational later this year.

Epixtar clients include primarily Fortune 500 clients from the financial services and telecommunications sectors. The company provides primarily outbound telesales services. It has operated its own facilities in the Philippines since 2002.

Greenman also announced the resignations of Epixtar Chairman & CEO Ilene Kaminsky and COO Ken Van Vranken. “Ilene and Ken have decided to pursue other opportunities,” he said.

"Epixtar's rapid growth continues as demonstrated by this new agreement, the fast ramp-up of our Eastwood facility, and the development of meaningful business relationships with recognized global brands," said Greenman. "We have been very encouraged by the level of interest in our services, the loyalty of our clients, and the enthusiasm of our agents. Given the accelerating trend of offshoring business processes, we are confident that we will maintain our current level of growth”

A recent McKinsey study estimated that the number of offshore jobs will grow to 4.1 million by 2008 from 1.5 million in 2003. Epixtar and its partners believe this trend signals significant opportunity for the company.

Gerry Dunne, Executive Vice President Sales adds, "We are excited by the momentum gathering around Epixtar and its services, and we firmly believe the company will quickly emerge as a leader in providing value-driven contact center services for major corporations in North America."

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About Epixtar Corp. & Voxx Corporation

Epixtar Corp., based in Miami, Florida, is the parent company of Voxx Corporation (Voxx). Voxx, Epixtar's most active subsidiary, is a business process outsourcing (BPO) company -- aggregating contact center capacity and robust telephony infrastructure to deliver comprehensive, turnkey services to the enterprise market. From campaign design through ongoing management, Epixtar delivers value-driven, creative outsourcing solutions for customer relationship management (CRM) and telesales initiatives for its customers. Clients use the Company's marketing expertise and well-trained personnel to acquire, support, and enhance the customer experience, reduce costs and generate top-line revenue.

Epixtar/Voxx currently maintains seven contact centers in the Philippines and the United States with developmental plans for additional centers over the next 24 months.

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Pamela Galisim
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