Telesphere Closes Additional Funding, Totals $32 Million Over Two-Year Period

-Telesphere Also Receives FCC Approval and Closes Unity Business Networks Acquisition-


PHOENIX and DENVER (OCTOBER 07, 2009) -Telesphere, (www.telesphere.com), a nationwide hosted PBX
business phone and Internet services provider, today announced the closing of additional financing, totaling $32
million over the past 24 months.

"This capital will be used to reinvest heavily in the company to ensure that we are continually able to
provide award-winning customer service and expand capabilities for our clients as well as growing our
presence across the United States," said Telesphere Chief Executive Officer Clark Peterson.

The funding news comes on the heels of Telesphere's July announcement that it would acquire the VoIP services
business of Denver-based Unity Business Networks. The acquisition has now closed after receiving FCC approval.

"Today's news is yet another exciting chapter in the Telesphere story as we bring Unity Business Networks and its
high-quality team and exceptional customer base into the Telesphere family," Peterson said.

"We intend to be the major player in hosted IP services in the United States and we will continue to act decisively
to achieve this goal," Peterson said. "In acquiring Unity, Telesphere nearly doubles in size, significantly expands its
market presence, and adds the best back-office system in the hosted PBX industry. And for the Telesphere/Unity
team and our customers, the best is yet to come."

Telesphere also announced that Unity CEO Bob Paulsen has taken on the role of Telesphere's Chief Operating
Officer.

"We are happy to have successfully completed our transaction with Unity and are pleased that Bob and the Unity
team accepted important roles in developing the future of Telesphere," said Peterson. "They have built world-
class back office systems that will augment our ability to provide a superior customer experience to business
telecommunication companies across the United States."

"There is great optimism about the multi-billion dollar market opportunity for hosted VoIP telecommunications
services and the future of Telesphere," said Paulsen. "Under our new banner we intend to grow our presence
along Colorado, Portland, Ore., and the Minneapolis/ St. Paul areas as well as dramatically expand our presence
throughout the United States."

Telesphere will continue to be headquartered in Phoenix with a major presence in Denver. The company will house
several executive functions in Colorado and expects to double its employee presence there within six months.

Telesphere backers include several premier telecommunications investors including: Rally Capital, Hawkeye
Investments and The Greenspun Corporation.

To schedule an interview with Telesphere CEO Clark Peterson or COO Bob Paulsen please call Aaron Walker at 801-
803-1068 or email awalker@summitslc.com.

About Telesphere

Telesphere is a nationwide business phone and Internet services provider that delivers an innovative package of IP telephone services and
Internet access to businesses throughout the United States. Telesphere's services allow businesses to enjoy all of the latest voice and data
features of large businesses without the costly investment of on-premises equipment. Telesphere is a driving force in the convergence of office
PBX phone service, cellular phones, PCs and Unified Communications features. Telesphere fully manages its customers' services over a private IP
facilities-based network.
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