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CinTel Corp.'s $12M-$14M Project Is Delayed

CinTel Corp.'s $12M-$14M Project Is Delayed

LOUISVILLE, KY -- (MARKET WIRE) -- 01/20/06 -- On October 26, 2005, CinTel Corp. (OTC BB: CNCN), a leader in Internet traffic management, had made the announcement that it expected $12M-$14M in contract value to be signed by 2005. However, today, CinTel announced that due to the request from the prospective end user that particular project which was obtained in cooperation with Hyundai HDS has been delayed until year 2006. CinTel had entered into a strategic alliance relationship with Hyundai HDS in August 2005 with the view of focusing on providing a total solution, including main storage, for financial institutions. The prospective end user, which is one of the largest financial institutions in Korea had already used the solution provided by CinTel-Hyundai HDS alliance on a trial basis, and a definitive agreement was to be signed before the end of 2005. Due to the increased number of customers, transactions and database and its search for greater stability, the prospective end user had been seeking to upgrade its existing system. However, due to difficulty of (a) the Herculean task of migrating billions of terabytes of data, and (b) bullet-proofing the system from failures, the prospective end-user had only a few days ago officially requested to Hyundai-HDS and CinTel a longer test period to assure itself of the fail-proof nature of the solution. Essentially, the reason for the delay in signing the purchase agreement may be said to be due to the end-user's need to thoroughly test the system's stability, as it is a very high-profile financial institution. This large project is merely delayed; the demonstration is going smoothly; the prospective end-user is not considering any other alternative solution; and CinTel expects to sign the purchase agreement as soon as the prospective end user becomes completely assured of the stability of the system.

Hyundai HDS's CEO, Mr. Chul-Joo Jung, states, "It was really unexpected and disappointing that we could not secure this large project with a leading bank in Korea in 2005, because we had been repeatedly assured by the prospective end user that we would conclude the purchase agreement by the end of 2005. From Hyundai HDS's perspective, this project was quite important as it offered a diversification away from our reliance on Hyundai affiliates and inclusion of a great value-added product such as CinTel's iLog which excels in data management. CinTel and Hyundai HDS are cooperating together to secure bigger orders in 2006. Although we were planning on concluding this project in 2005 and using this client as a reference for future business, I was very disappointed to hear that the prospective end user informed us at the very last minute -- quite apologetically -- that it could not assure itself 100% of the system's stability by the end of 2005 and thus needed more time. However, we will continue with the alliance with CinTel, and I am confident that the alliance will bear fruit in other significant additional projects in 2006."

Sang-Don Kim also added, "CinTel is very close to receiving the largest order since establishment, and I am disappointed with this delay to book the $12-$14 million project. On the bright side, since this is only a delay, I am confident that CinTel will conclude this project at the latest by 2006. I will work my hardest to realize all of CinTel's goals. CinTel will look markedly improved by end of 2006 than by end of 2005."

About CinTel Corp.

CinTel Corp., while based in the U.S., has its main business operations in Korea that provide enterprise technology solutions to deliver faster internal and external network service. It is a company devoted to providing software and hardware solutions that provide faster Internet service. Founded in 1997, CinTel introduced Korea's first dynamic server load balancer, which has now evolved into a world-class product. CinTel's award-winning Internet Traffic Management (ITM) solutions are marketed to customers worldwide, enabling the Company's customers to improve Internet traffic management, service levels and user experience. CinTel maintains its position as a leader in Internet Traffic Management through continuous research and development efforts. CinTel is also a recognized leader in Content Delivery Network (CDN). CinTel offers a comprehensive line of advanced Internet Traffic Management solutions and system performance improvement solutions that help network operators meet the growing need to manage web access, secure content, improve users' experiences, and reduce server loads and bandwidth demands. For additional information, please visit: or contact J.D. Sparks, 502-657-6077 (O), 502-693-8022 (c), [email protected] .

Safe-Harbor Statement

This press release may contain statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.

J.D. Sparks
502-657-6077 (O)
502-693-8022 (c)
[email protected]

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