1. The Route Less Travelled Internet Telephony Conference – Miami 2003 International IP Telephony Opportunities: Simple Resale, Pre-paid, Callback and other Winning Opportunities Samy Loebl Manager of Operations, AIC

2. Where are we going Check the rearview mirror, before pulling out. Check the rearview mirror, before pulling out.  1994 deregulation accords have been implemented in varying scale.  Many companies failed, where other succeeded. Do we need a map? Do we need a map?

3. Where are we going MARKETS Current Status Potential for Growth Resale Market shifting due to erosion of operating margins FEW Pre-Paid Increasing market opportunities in both directions GOOD Callback Technology has opened new markets LIMITED Unified Communication Market is not developing as fast as new products keep being introduced LONG-TERM Dial-Tone New markets may open in particular countries DIFFICULT

4. Where are we going Different Latin American destinations require different ways to get there VoIP USE TelephonyFaxCorporate PeruAllowedAllowedAllowed BrazilProhibitedAllowedAllowed EcuadorProhibitedProhibitedProhibited

5. How do we get there Who will do the driving? Who will do the driving?  Do you own or lease?  Do you have a license?  Partnering or Sub-contracting

6. How do we get there Read the signs on the road Read the signs on the road  Protocols vs. reality (Is there interoperability?)

7. How will we get there What routes are available? What routes are available?  Fiber Fiber everywhere  Satellites and other space stories

8. What is the Cargo Origination Origination Termination Termination

9. How much will it cost to get there? There is no Running on empty There is no Running on empty  Cash Flow Rules!! Know where the service stations are Know where the service stations are  Volume vs. margins Pay the toll Pay the toll  Local termination in the PTT  Reliable Billing

10. Are we there yet? As technology continues to develop, and markets continue to open, VoIP carriers will be able to offer more competitive and bundled services. As technology continues to develop, and markets continue to open, VoIP carriers will be able to offer more competitive and bundled services.

11. Are we there yet?