THE INFORMATION in this section may include forward-looking statements contained herein reflect management's current views with respect to future events and financial performance. This information in part or in full is subject to certain risks and uncertainties that could cause the actual results to differ materially from those in the forward-looking statements. Z ITSP Development Limited (“Z ITSP”) and its officers and directors undertake no obligation to publicly update or revise any such forward-looking statements to reflect any change in its expectations or in events, conditions or circumstances.

  JULY 31, 2006 Alberta, Canada  

On July 31, 2006 Z ITSP Development Limited (“ZITSP”) announces a service expansion initiative. Required equipment has been installed and final testing has been completed. Successfully executed agreements between ZITSP, Z Capital Limited (“ZCL”) and one of Z ITSP publicly held Wireless Internet Provider (“WISP”) will enable local phone services in the Edmonton, Lethbridge and Medicine Hat Alberta including extended calling areas. This implementation is of significant importance to the WISP has completed recent acquisitions and have a strong client base in these regions with limited competition. Marketing efforts are now being executed for the Broadband Telephony Services and registration is now being accepted in the following Alberta areas; Edmonton, Alberta Beach, Ardrossan, Beaumont, Bon Accord, Bruderheim, Calmar, Chipman, Devon, Edmonton International Airport, Fort Saskatchewan, Gibbons, Hay Lakes, Keephills, Lamont, Leduc, Legal, Millet, Morinville, Namao, New Sarepta, Nisku, Onoway, Redwater, Sherwood Park, Spruce Grove, St Albert, St Michael, Stony Plain, Thorsby, Tofield, Wabamun, Lethbridge, Barons, Cardston, Carmangay, Champio, Coaldale, Enchant, Fort MacLeod, Glenwood, Iron Springs, Magrath, New Dayton, Nobleford, Picture Butte, Raymond, Stand Off, Stirling, Taber, Wrentham, Medicine Hat, Bow Island, Elkwater, Irvine, Ralston, Schuler, Seven Persons, Walsh.

Business and residential customers in remote locations across Canada will enjoy from this expansion, bringing bundled telephony services with area codes now in Alberta, British Columbia to their regions and across the world at significantly discounted rates based on today’s most advanced technologies that shape the way people communicate. We are pleased to invite corporate and residential customers in these areas to enjoy from today’s most competitive broadband telephony service bundled with internet access at a fraction of a cost in comparison to services provided by other providers in these areas, unlimited calls to Canada and the US, caller ID, Voice mail and most desired features included conveying quality and great savings.
 

  MARCH 29th, 2006 

On March 29th, 2006 Z ITSP Development Limited ("ZITSP") through its licensed Subsidiary in Canada (“ZGC”) announces it has signed a Service Level Agreement (“SLA”) with Alberta based marketing company specializing in prepaid-cards ("NTI"). Under the scope of this agreement NTI will rely on ZGC’s backbone and particularly Z ITSP’s signature voice-routes to and from Africa to offer premium prepaid-card services to the African community in Alberta. This arrangement consider two main phases (1) NTI will operate its business based on ZGC’s online administration system through a limited partition and (2) upon positive cash-flow NTI will purchases from Ocean Technology Solutions Ltd (“OTS”) its own online administration facilities. NTI has a planned launch date being May 1, 2006, Securities have been delivered and the initial 10,000 prepaid-cards are in production, we wish our new partner the greatest success.

  DECEMBER 19, 2005 

On August 19th, 2005 Z ITSP Development Limited (“ZITSP”) announces a service expansion initiative. Required equipment has been installed and final testing is anticipated to be completed before the end of December. Successfully executed agreements between ZITSP, Z Capital Limited (“ZCL”) and one of Z ITSP publicly held Wireless Internet Provider (“WISP”) will enable local phone services in the Red Deer, Alberta and extended calling area. This implementation is of significant importance to the WISP as they have a strong client base in this region with limited competition. Marketing efforts are now being executed in tandem with the testing, pre-registration for the services is now being accepted in the following Alberta areas; Red Deer, Alix, Bentley, Blackfalds, Bowden, Clive, Delburne, Eckville, Elnora, Innisfail, Lacombe, Leslieville, Mirror, Penhold, Ponoka, Spruce View, Sylvan Lake, Torrington, Trochu. Business and residential customers in remote locations across Canada will enjoy from this expansion, bringing bundled telephony services with area codes now in Alberta, British Columbia to their regions and across the world at significantly discounted based on today’s most advanced technologies that shape the way people communicate.

  AUGUST 2nd, 2005 

On August 2nd, 2005 Z ITSP Development Limited announces a successful implementation of Emergency Services (“911 Services”) in North America in accordance with the CRTC and FCC regulations. Now our broadband customers could contact a Public Safety Answering Point (“PSAP”) that is in use by major carriers and emergency bodies by simply dialing 911 from their broadband phone. We believe this service will increase the level of safety to our customers and is part of our continuing efforts to provide you with the most comprehensive telephony service.

  AUGUST 1st, 2005 

On August 1, 2005, ZITSP Development Limited ("Z ITSP") announces that the Marketing division in North America is nearing completion of the pilot (see news release from February 20th, 2005) and implementation process with a prominent publicly held, TSX Wireless Internet Service Provider (WISP) with the anticipated market launch date being August 15th, 2005. These telephony services will be available to anyone regardless of their internet service provider. This will open the WISP’s market to cities, towns and communities throughout Alberta that may not be currently serviced with their internet. In preparation of this new business division the WISP has expanded its staffing and currently has in place fully trained technical, operational and sales persons to effectively roll out telephony services. Through this venture the parties will promote broadband services converged with IP based advanced telephony services to their current and expanding client base, utilizing both print and radio advertising. In Addition to the broad base of high-speed Internet customers including residential, business, cable and condominiums this offering will allow several innovative marketing packages and programs. Business and residential customers in remote locations across Canada will enjoy from bundled telephony services with an area code in Alberta or in other regions across the world at significantly discounted rates.

  JULY 15th, 2005 (Correction to February 1st, 2005)  

On July 15th, 2005 Z ITSP Development Limited announces it marketing division in North America has decided not to proceed with the venture mentioned in the news release from February 1st, 2005 because of management changes in the real estate development company and our concern on the capability of such company to curry out future projects in a timely manner. Subsequent our conservative approach we recommend you not to consider our news release of February 1st, 2005.

  JUNE 7th, 2005 

On June 7th, 2005, ZITSP Development Limited ("Z ITSP") announces that the Marketing division in North America has signed a venture agreement with a Wireless Internet Service Provider (WISP) that is a subsidiary of a prominent publicly held corporation listed in NASDAQ. The objective of this venture is to promote broadband services converged with IP based advanced telephony services to their current and expanding client base. As a result of this venture we anticipate incremental monthly EBITDA per account of between US $10 to US $40 per subscriber. In addition, business and residential customers in rural areas across BC Canada, empowered by the internet, will enjoy from bundled telephony services with an area code in BC, Alberta or in other cities across the world at discounted rates, up to 60 percent savings and much more. From June 21st to 25th, 2005, the parties will establish a Point of Presence in BC that will serve this venture followed by a professional marketing campaign. This is a significant development for us given the fact that upon successful pilot in a well-planed manner the parties will propose a similar venture to more than 250 WISPs customers across North America and Australia.

  APRIL 27, 2005

On April 26, 2005, ZITSP Development Limited ("Z ITSP") announces that the Marketing division in North America has a signed service agreement with a prominent Call Center in Canada. The initial pilot saw Z ITSP handle nearly 30,000 calls through a custom VoIP solution provided to the Call enter. This project is expected to generate significant revenues and save the Call Center between 30% and 45% over the past years telephony expenses. The converged use of existing data network opens the doors to other business opportunities and a more efficient use of resources. Z ITSP is very pleased to have been chosen to be the provider of choice for this application and service. Z ITSP though it’s Marketing division in North America is planed to launch a marketing campaign to promote this type of solution to more than 200 call centers in Alberta.

  FEBRUARY 20, 2005

On February 20, 2005, ZITSP Development Limited ("Z ITSP") announces that the Marketing division in North America has began the pilot process with a prominent publicly held, TSX Wireless Internet Service Provider (WISP) with the objective to establish the policies and strategy for a marketing venture. Through this venture the parties will promote broadband services converged with IP based advanced telephony services to their current and expanding client base. As a result of this venture we anticipate incremental monthly EBITDA per account of between US $10 to US $40 per subscriber. In addition business and residential customers in rural areas across Canada, empowered by the internet, will enjoy from bundled telephony services with an area code in Calgary or in other cities across the world at discounted rates, up to 60 percent savings and more.

  FEBRUARY 1, 2005

On February 1, 2005, Z ITSP Development Limited (“Z ITSP”) announces it marketing division in North America has agreed with a real estate development company based in Calgary AB to establish and operate an internet wireless network in a growing 1,000 home town in Northern , BC. Under the scoop of this venture the developer will finance the network and ZITSP will operate and manage the service based on a revenue sharing model. Through this venture residents will enjoy enhanced internet and telephony converged services including phone line service with an area code in Vancouver, Calgary, Toronto and other locations. This line of service goes well with the developer’s concept to offering its homes with today’s most advanced technologies in energy, water, communications and other areas that makes quality of life exceptional. In consideration of the alternatives for internet and telephony services in this area we expect to gain the majority of the accounts in this town with projected monthly revenue per account between CAD $13 to CAD $100. Future projects with this partner will be announced, regions of consideration include rural Alberta, Nassau, Bahamas and Mexico. We wish our partner the greatest success.