Hipso Multimedia's Subsidiary, Valtech Communications Inc., intends to submit a bid in response to tenders issued by the Slovak Telecom Office

Hipso Multimedia's Subsidiary, Valtech Communications Inc., intends to submit a bid in response to tenders issued by the Slovak Telecom Office

ILE DES SOEURS, QC, June 9 /PRNewswire/ -- Hipso Multimedia, Inc. (OTC BB:HPSO.OB - News) announced today that its subsidiary, Valtech Communications Inc., a company offering "triple play" (telephone, television and Internet) communications services, has decided to submit a response to a tender for DVBT ("Digital Video Broadcast Terrestrial") licenses to be issued by the Slovak Telecom Office (TUSR). The successful bidder will be awarded an exclusive DVBT license covering all of Slovakia. The license is for the exclusive national television broadcasting network, has a ten-year duration, and is renewable. The Slovak tender specifies the requirements which must be met in order to obtain the license.

TUSR set 1:30 p.m. on July 16 as the deadline for submissions of bids and announced that the selection criteria will include compression standard, start date of broadcasting and percentage of population covered. It has also stated its preference for candidates which would be able to move to the latest technical standard known as DVBT2 and offer additional telecommunications services.

Gross revenues anticipated to accrue to the recipient of the Slovak license are (euro)40 million per year or (euro)400 million for the duration of the contract (US$556,640,000 at today's exchange rate).

The selection process will be undertaken by a committee whose members have been appointed by the president of the TUSR. The switch -off from analog to digital must be completed by 2012.

In connection with its submission, Valtech is working with worldwide recognized telecom industry leaders, including but not limited to LM Ericsson Telephone Company and Harris Corporation, as well as with AZD (Automatizacia Zeleznicnej Dopravi a.s.), the Slovak national railway communications operator.

Forward Looking Statements

Hipso Multimedia, Inc. is dedicated to combining cutting edge technology and service in the triple play telecommunications industry. It intends to become a major force in the IPTV (Internet Protocol Television Broadcasting) arena as well in DVBT network technology.

All statements other than statements of historical fact included in this press release are "forward-looking statements" within the meaning of federal securities laws. Such forward-looking statements are subject to a number of risks and uncertainties, some of which are beyond the Company's control.

Source: Hipso Multimedia Inc.

CONTACT: Rene Arbic, President, Hipso Multimedia Inc., (514) 380-5353

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