Metro One Telecommunications, Inc. the renowned developer and provider of Enhanced Directory Assistance® and other telecom services, today announced here that Kenneth D. Peterson, Jr. has been nominated as the venerated Chairman of the Board of Directors at a meeting of the Board held in the recent days. It is stated on behalf of the topmost echelon of the Company that Mr. Peterson is at present the Chairman and Chief Executive Officer of Columbia Ventures Corporation, a premiere investment firm that holds to its record a considerable record of ownership position in the Metro One Telecommunications from the time when it was the month of February in the year 2005.

It has already been averred, that the Columbia Ventures was the lead investor in the first stage of a financing transaction that closed on 5 th June in this year at the opportune time when Mr. Peterson was elected to the Board of Directors.

Metro One Telecommunications, Inc. is an internationally famous developer and provider of Enhanced Directory Assistance and other information services. The Company is chiefly betrothed in the operation of call centers located throughout the length and breadth of the United States. The Company has excelled in handling over 300 million requests for information over the past two years. On the contrary, XRoads Solutions Group's expertise functions in the field of corporate finance, strategic and operational consulting and moreover in turnaround management. The XRoads has been conferred the responsibility of providing support to the Metro One management team through assistance towards the Company for achieving additional funding, to identify and secure additional revenue opportunities, and also to increase operational cash flow and reduce costs.  

In addition at this very meeting of the Board of Directors, did not insist on or better to say that refrained from the demand of any such cash or equity compensation which was justifiable to him being a member of the very Board of Directors or any committee of the Board and as Chairman of the Board. On the other hand, the venerated Director and Chairman and Chief Executive Officer of Maoz Everest Fund Management Ltd., the general partner of the other investor in the financing transaction Mr. Elchanan (Nani) Maoz, also waived at the present time a few cash or equity compensation to which he might otherwise be entitled as a member of the Board of Directors or any committee of the Board. They will continue to be reimbursed for out-of-pocket expenses.