The Presidential Interview Series - Inside Look

November 14, 2007 (Denver, CO)

The Presidential Interview Series Presents: An Interview with the President of US National Telecom (USNT), Gregory Giagnocavo

M: It’s always so interesting to speak to the person running things to get a behind the scenes look at what the Company is really about, how things came to be and what plans are in the making.

G: It’s great to get a chance to speak about this venture, all the more so when it’s so successful. As a public company, we can’t share any “inside information”, but I will say this – I love the challenge of taking a good thing and making it great.

M: Well, from all that we’ve been reading, it seems as if USNT is off and running and growing rapidly. I think the public was told that sales will double this year. What are the challenges in handling such rapid growth? What is your key to success in ramping up so fast and doing it well?

G: It is true that Vitelity Communications is really growing rapidly; that is taking most of the executive effort at this time. This is not a guarantee, and just a guess, but if its revenue grew 100% in one year, it wouldn’t surprise me at all. Overcoming the problems of handling high growth – and let’s face it, most companies would love to have that problem – isn’t so difficult if you have a good team. And, we don’t just have a good team, we have a great team. And we’re basically just building on that team and expanding to meet the high demand for the company’s services.

M: Well, that sounds a bit modest… certainly there are ways that USNT can benefit from the years of successful business experience that you bring to the company. After all, isn’t it true that you have started other successful businesses? Didn’t I read that you sold out for millions and had actually retired a few years ago at age 44?

G: You are too kind when you say “a few years ago” – it was about ten years ago! Thanks, and yes I am glad that I can bring my company-building experience, which is an important ingredient. Let’s just say a lot of things went right when I started two other companies in the 1990’s … thanks to a fantastic idea, a great team and dedicated investors. I am very proud of those two companies. As rumor has it, they eventually sold for many tens of millions of dollars. But I stick to this rule , and that is never, ever, underestimate the value of those with whom you work, and don’t ever take all the credit yourself for any successful venture.

M: So, investors want to know – is USNT going to have a huge run up in stock price? Is this a good time to buy shares? Will USNT buy other companies this next year?

G: Well, that’s always the question investors have, it’s always a question of timing. The share price has been low then higher then lower. I have no idea where the stock price is headed. I wish I knew how to predict the future. But the real question I think investors should focus on, and what I as an investor in USNT would want to know, is this: is the company in a growing business marketspace, is it dedicated to building value for the company, and is the management team experienced and prepared. That’s the foundation for any good company to grow and succeed.

M: How about products and services? Can we expect to see a steady stream of new services, or is the business strategy to simply build on what you now have?

G: You’ve hit on a crucial point, and one that the management thinks a great deal about. That is, should we invest in new and more products and services, or stick with what we already have and what we already know works well. The answer to that may seem elusive, but we’ve decided that the safest and most sure path to success is a dual strategy. Goal #1 is to take what we have in terms of products and services and make them better, as good as possible. Do a better job or marketing and selling those services to a wider range of customers. Goal #2 is to continue to strive for continuous improvement which we have determined to mean that we can always do something better today than we did yesterday. And create new products and services.

M: At lunch and during our interview I couldn’t help but notice there are cars in your parking lot such as Mercedes, Jaguar, BMW, Audi, and SUVs, and that the executives carry the quite rare American Express black card, the Centurion Card. That’s certainly impressive but does that seem unusual to you for a new company?

G: The Company does not own any company cars - employees, even executives buy their own vehicles with their own money. And Vitelity isn’t new, it is four years old. As well, some of us have had prior successes that have provided the means to do certain things, and have achieved a certain level of success. Actually, the employees are also investors in USNT for the long run because part of their compensation is in USNT shares that they cannot sell for at least two years. So you can rest assured that every day, each employee has the best interests of the Company at heart and that their success is directly tied to the Company’s success.

As for the American Express Centurion black card, yes, it is a rarely-issued card, and very hard to qualify to get one and perhaps the most exclusive card in the world. But those involved in Vitelity are financially solid enough to qualify for it, so maybe that should say something, in a subtle way. Truth be known, I am the one around the office who actually clips coupons from flyers and brings in office supplies I found on sale at Wal-Mart, and I insist on using the back sides of copies for scratch paper. There’s no waste at USNT, that’s for sure.

M: Well, thanks for the interview and the insight. I am sure many investors out there are on your side, rooting for you and the Company, hoping to continue to see great things from USNT.

Safe Harbor Statement: This release includes forward-looking statements, made pursuant to the safe harbor provisions of the PSLA of 1995, that involve major risks and uncertainties based on what may be inaccurate assumptions. Financial information is based on revenue and deposits for services, is unaudited and subject to restatement. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.