Wednesday, January 24, 2007

Nettel Holdings Announces Global Clearinghouse for Commodities

Nettel Holdings (NTTL)

Tougi Announced Today the Launch of Its Global Clearinghouse Service for Commodities

Monday January 22, 10:01 am ET

Similar to AVOP, Tougi Global Clearinghouse provides a real-time, safe, secure, and automated web-based platform for buyers and manufacturers to conduct business. Tougi acts as a middleman, protecting and assuring the buyer of receiving exact commodities he has ordered. In turn, we protect the manufacturer by ensuring the money is available to them immediately for the exact amount of products he had sold. Manufacturers receive a detailed daily settlement statement, showing the number of products sold, issued to members in a single currency.
Tougi handles all financial settlements, billing and administration, allowing manufacturers to save on time, staff and administration costs. Manufacturers can now work with many buyers without having to develop and maintain various bilateral relationships. Instead manufacturers require only a single relationship with Tougi. Buyers will now have access to the best rates on products without having to negotiate a contract separately with each manufacturer.

The existing Letter of Credit (LC) process is too time consuming and costly. In addition, the traditional LC is not fool proof and secure. There are many manufacturers that have loss their money because of a fake or fraudulent Letter of Credit.

Over the past 3 months, we have signed up over 300 manufacturers from over 7 countries. We are currently signing up 10-12 new manufacturers daily. Participating manufacturers have been using the beta version of Tougi and are very impressed with its convenience and protection.
These manufacturers have posted over 17,000 products on Tougi. These include: agriculture, apparel, automotive, chemical products, computers, consumer electronics, food products, furniture, industrial equipments, and many more. By taking responsibility for the products sold by the manufacturers, Tougi will be able to recognize all of the revenue going through the platform.

Nettel Holdings have also named Jim Dao as president to lead Tougi. Jim graduated from UCLA with a bachelor's degree in Computer Science and has over 7 years experience in the wholesale industry. In his new role, he will be responsible for directing Tougi's overall policies, business development, and overseeing all daily functions. "We are lucky to have someone of Jim's background and expertise to take charge of Tougi," said Michael Nguyen, President of Nettel Holdings. "Jim will be a perfect fit for Tougi, as we rapidly grow our business."

Tougi is an important addition to Nettel's services portfolio, providing our customers with another competitive advantage in the rapidly changing environment. Tougi is a great new initiative that will help manufacturers develop and penetrate their target market faster than traditional methods.

Similar to VOIP Payment Services and AVOP, we feel Tougi will prove to be a valuable asset for our customers and shareholders alike.

Once again our Entec division in Vietnam has been the engine to make this happen, developing all the software for the Tougi platform.

For additional information on Tougi, please visit our website at http://www.tougi.com.
Contact: Contact:
Investor Relations
503-336-5098

Source: Nettel Holdings

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