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.

  APRIL 11th, 2006 – Middle East   

On April 11th, 2006 Z ITSP Development Limited (“Z ITSP”) announces it has signed an agreement with a marketing company named OR Ltd. (“OR”). Within the scoop of this agreement OR will promote under its own brand name telephony services such us: local, long distance and international calls, peer to peer, voicemail, conference calls, caller ID, prepaid-cards and other features desired by residents and corporate customers in the Middle-East including Direct Inward Dial (“DID”) service in different jurisdictions. The required business transactions have been completed for a planed launch May First 2006. Ocean Technology Solutions Ltd (“OTS”) as a subcontractor is in the final steps integrating he Z ITSP’s broadband telephony Solution (“BTS”) and has completed the training program for OR staff. We look forward to materializing this business opportunity and wish the greatest success to OR Ltd.


  FEBRUARY 7, 2005  

On February 7, 2005, Z ITSP Development Limited (“Z ITSP”) announces that its related company Z Eurolink Services & Programming Ltd accomplished successfully an integration of a VoIP application for the Coral FlexiCom™ and the Coral IPx™ families of products. This application will enable PBX owners across the world to establish the connection to Z ITSP’s IP voice and data network. Tadiran is an international well established leader in telecommunications for more than 35 years that operate in more than 30 countries www.tadirantele.com. Tadiran Telecom is an IP-PBX equipment provider, and is currently not involved in international dialing service provisioning.


  FEBRUARY 1, 2005 

On February 1, 2005, Z ITSP Development Limited (“Z ITSP”) announces a successful pilot with B.O.S Better Online Solutions Ltd. (NASDAQ symbol: BOSC). The pilot includes an OEM product name Z Connect which enables PC users to make and receive calls from and to anywhere from any PC with internet connection. The pilot included 377 units that were purchased by ZITSP and distributed to customers in Asia, North America and Europe and such customers used the Z Connect to access Z ITSP’s network and consumed more than 266,372 minutes worth of voice services. Following this successful pilot Z ITSP will promote BOSC’s products as preferred products to access and use Z ITSP’s services from personal computers. Also the companies agreed to extend the cooperation to additional products such as gateways and other products with the objective to facilitate the connection between the customers and Z ITSP network at the best quality price mix. Z ITSP will promote BOSC products bundled with service packages through its official website www.zitsp.com .