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Wednesday, February 06, 2008

3P Networks Update on Cambodia Telecom Frequency Negotiations

Striving for Low Risk - High Returns”

NEW YORK--(BUSINESS WIRE)--3P Networks Inc. (OTCBB:TPNW) (“the Company”) is currently in the final stage of negotiations with the Royal Cambodian Government to acquire significant frequency spectrum in order to implement unique cost effective telecommunication solutions in Cambodia and in neighboring countries.

As disclosed in a news release dated December 10, 2007, the Cambodia transaction qualifies as the foothold required for a rapid and strategic expansion into the region, specifically in the emerging economies of Laos and Vietnam. Affordable and reliable telecommunications are critical for developing countries in their efforts to both attract investment capital and stimulate a robust domestic environment. While assisting Cambodia’s long term growth and higher GNP-per-capita targets, the Company will also succeed in significantly enhancing shareholder value.

The Company’s strategy is to rapidly build value via credible cash flows from an established and continually expanding subscriber base in areas where valuations are considerably below standard industry benchmarks. In the briefest of terms, the acquisition of the available telecommunications concession will meet the necessary return-on-investment criteria from the perspective of the inherent risks in creating business opportunities in the developing world.

The Company continues to look for takeover targets in the heavily undervalued regions of the world, subject to the availability of quality management. The opportunity in Cambodia has led to the suspension of the Company’s previously announced (August 20 and October 18, 2007) acquisition and financing of certain Caribbean assets. The current opportunity is a direct result of the Company’s joint venture with a boutique investment-banking firm in Phnom Penh—Diversified International Projects.

About 3P Networks: TPNW

3P Networks’ management has decades of experience providing telecommunication technologies to developing nations. Much of the focus has been in technologies which assist in the “custom bundling” of multiple products including TV, fixed and wireless VoIP and broadband connectivity, all in a common platform. The Company’s management realizes that aggregating subscribers is the name of the telecommunications game; the growth-oriented markets of the niche South East Asian region (in and around Cambodia) offer a unique window of opportunity. For more information please access the company’s website at

About Diversified International Projects

Diversified International Projects Co. Ltd. (D.I.P.) represents and promotes financial enterprises, institutions and investors in the Asia region. Over the past 20 years, D.I.P. principals have been involved in a number of significant transactions, particularly related to investment and property development activity, and are well positioned to represent financial enterprises as well as develop, implement and market financial-related services to markets in the fast expanding Asian region.

This document contains certain forward-looking statements. Such forward-looking statements, by their very nature, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of 3P Networks Inc. (“the Company”), or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Those trading in shares of the Company should access independent and qualified investment advice, particularly where claims made in forward-looking statements deserve expert attention. Any valuation of the Company’s shares currently depends upon the success the Company will achieve in its merger and acquisition strategy in and around Cambodia, in South East Asia, and upon the overall growth of that region. Such a valuation is also conditioned by the nature and quantum of financing available from time to time.

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Queenco Leisure buys land in Cambodia for 10 mln usd to build beachfront resort

LONDON (Thomson Financial) - Queenco Leisure International Ltd said it has purchased 9 hectares of land in Sihanouk Ville, a coastal area in the south-west of Cambodia, for 10 mln usd, which it plans to develop as a destination beachfront resort and casino, including hotels and conference centres.

The casino developer and operator said as part of the acquisition, it has also acquired exclusive rights from the Cambodian government for the stretch of beach immediately in front of the site.

'Along with the expansion of Sihanouk Ville's airport, the area is being transformed as a tourist destination, with a growing local economy, as both foreign and domestic investors recognise the future potential of the area,' chief executive Dror Mizeretz said.

Today's announcement follows the company's acquisition of 48 hectares of land in Sihanouk Ville in February 2007, Queenco added.

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