New Corporate Structure in WorldNet Telecommunicatios, Inc.

Guaynabo - David Bogaty, founder of WorldNet Telecommunications, Inc., announced today its several high level executive promotions effective August 1, 2006. "Our sustained market growth and expanding portfolio of products and services plus the must recent transition to our own new facilities for our own infrastructure entails a new corporate structure", expressed Bogaty.

Notably, "Mr. Larry Freedman will continue as President but adds Chief Executive Officer to his responsibilities, and Eng. Francisco Muñiz becomes Chief Operating Officer. I become Chairman of the Board”. Both Mr. Freedman and Mr. Muñiz each have six years of experience at WorldNet. Before becoming an executive, Mr. Freedman served as counsel to WorldNet on strategic and regulatory issues. Mr. Muñiz has served in varying capacities of increasing responsibilities in WorldNet’s engineering and operations departments.

With the appointments, WorldNet continues its “agile” approach to growing its structure to meet its business growth and responsibilities. "Mr. Freedman, as President and now also CEO, will continue to focus not only on running our company but also providing strategic direction. Examples of strategic initiatives we hope to implement and replicate include our dedicated “WorldNet Training Institute,” and our focused program on how telecommunications and technology fit within our business and residential customers’ lives, a program known as “RISE.”

The new COO, Eng. Francisco Muñiz, will be particularly focused on the day to day operations of our company. He will combine his longstanding experience in all aspects of operations of telecommunications companies in Puerto Rico with his commitment to our vision and his knowledge for effective management", said Bogaty.

As Chairman of the Board of Directors, David Bogaty, with Mr. Freedman, will focus efforts in areas of his particular expertise and passion, including among other things human resources, strategic issues, and the WorldNet vision.
WorldNet Telecommunications continues with its state of the art innovative deployment, bringing new technology and services to Puerto Rico, feats made possible by the opening of the competitive market.

The company is celebrating during 2006 a decade of success. It now offers a cutting edge Network Operations Center and Switching Platform in addition to its corporate headquarters located in Guaynabo. In addition to voice and data services, WorldNet offers a “concierge” approach of “one stop shopping” for telecommunications and technology solutions, including among other things ISP, web hosting, email, and consulting services, as well as VoIP and a host of related products and services.

The company was recently recognized in several top industry forums, including as the number one telecommunications company in Puerto Rico (the “Zenit Award”) in the telecommunications sector by The Puerto Rico Chamber of Commerce and as the 4th Best Employer in Puerto Rico by Hewitt and Associates.