TORONTO, Jan. 11, 2012 (GLOBE NEWSWIRE) -- Teliphone Corp (OTCQB:TLPH)
the world's local digital telecommunications company is pleased to
announce that it has signed a definitive agreement for the acquisition
of all the operations, technology and intellectual property of the New
York Telecom Exchange Inc. (NYTEX), the world's first neutral
international telecommunications commodity exchange for USD $5 million
in an all stock transaction. New York Telecom Exchange Inc will receive
a total of 20 million Teliphone common shares at $0.25/share.

NYTEX will operate as a separate division within Teliphone and at
current volumes could contribute over $25 million in annual revenue
bringing Teliphone's total annual run rate revenue to approximately $31
million.

The exchange will continue to operate under the name "The New York
Telecom Exchange" (NYTEX). The transaction includes all world wide
operations and infrastructure of NYTEX including NYTEX's UK London data
center (LondonTelex) and its European data center in Belgium
(EuroTelex).

In 2011 approximately 200 million minutes were bought and sold on the
NYTEX platform with a value of approximately 30 million dollars (bought
and sold). In December 2011 NYTEX reached 32 million minutes bought and
sold for a value of approximately 4.4 million dollars.

Lawry Trevor-Deutsch, President and CEO of Teliphone stated, "We
believe that the acquisition of NYTEX's operations by Teliphone is a
natural fit for the company and will bring very good value to
shareholders through the synergy of being able to provide both
wholesale and retail telecommunications operations to our clients and
by reducing costs through shared overhead."

About NYTEX

NYTEX was launched in June 2009 and uses a proprietary algorithm which
commoditizes international telecommunications minutes. NYTEX also
developed the concept of trading of blocks of minutes and when used in
conjunction with the algorithm allows minutes to be traded like any
other commodity as in other mercantile exchanges. NYTEX provides a
trading platform for wholesale carriers, mobile and fixed network
operators and retail operators and acts as the central clearing house
to all exchange-traded transactions therefore ensuring the delivery and
fulfillment of these transactions. NYTEX has a number of proprietary
value added features such as an integrated US Dollar and Euro trading
floors which eliminates currency risk, an anti-false answer supervision
system and tTrader, a direct trading option. With data centers in
Montreal (NYTEX), London (LondonTelex) and Brussels (Europe Telecom
Exchange), NYTEX aims to create a new economy based on
telecommunications trading.

About Teliphone

TeliPhone Corp. is the world's local digital telecommunications company
providing Internet, voice, IPTV, digital content and data services to
business, government and residential customers. Teliphone operates a
Canadian coast to coast network with its own national infrastructure
and its voice and IPTV services are also available in 47 countries.
TeliPhone is able to deliver more value added services to its customers
at a lower cost than other suppliers.

This transaction may be subject to legal and/or regulatory approval.

Forward-Looking Statements

This press release includes "forward-looking statements" as defined by
the SEC. All statements, other than statements of historical fact,
included herein that address activities, events or developments that
Teliphone Corp or New York Telecom Exchange Inc. expects, believes or
anticipates will or may occur in the future, including anticipated
benefits and other aspects of the proposed acquisition, are
forward-looking statements. These forward-looking statements are
subject to risks and uncertainties that may cause actual results to
differ materially. Readers are cautioned not to place undue reliance on
forward-looking statements, which speak only as of their dates. Except
as required by law, neither Teliphone Corp nor the New York Telecom
Exchange Inc. intends to update or revise its forward-looking
statements, whether as a result of new information, future events or
otherwise.


CONTACT: Lawry Trevor-Deutsch	
         President, Teliphone Corp.
         Tel: +1 514 313 6000
         info@teliphone.ca