HOUSTON, Feb. 8, 2006 (PRIMEZONE) -- Gridline Communications, Inc., a Texas-based corporation, announced today that the company has entered into a memorandum of understanding (MOU) with Portal of the Americas, Inc. to integrate all of the content contained within the multinational, multi-lingual Education Portal of America, currently hosted by the Organization of American States (OAS) and the new Portal of the Americas platform targeting universities medical centers, enterprises and municipal governments, with Gridline Communications' offerings. The MOU is the first step in the next phase of Gridline's long-term efforts to offer a complete end-to-end Internet solution containing a host of valuable online content and services available on the new Platform via electrical outlets, utilizing the patented Gridline broadband data-over-power-line BPL technology.
"We are very excited about the market potential that will present itself upon the successful completion of this important first step taken by Gridline to acquire the Portal of the Americas. Both management teams recognized that together we can accomplish a unique value innovation, the cornerstone of a 'blue ocean strategy.' We intend to re-invent the internet experience and the combined companies can now move forward with a unified strategy to realize our shared vision of that new Internet experience," states Ramiro Jordan, President of Portal of the Americas, Inc.
Portal of the Americas is a web-based content service aggregator and provider. The next generation portal platform provides access and distribution of over 2,000 distance learning programs in all areas of knowledge. It also serves as a common interface platform for multiple digital libraries, and a variety of personal services and applications. Portal of the Americas works with key partners in the region such as the Organization of American States through its Advance Studies Institute for the Americas (INEAM) and the Ibero-American Science and Technology Consortium (ISTEC) of over 160 universities and 20 global companies and government institutions. Under the terms of the MOU, subject to approval of the board of directors and shareholders, Gridline will merge Portal of America and its content into Gridline and the Portal system will become the primary platform for Gridline's growing library of content. Gridline will also enter into employment and/or consulting agreements with the key employees of Portal of America.
"We are very pleased to have completed this first step toward our inclusion of Portal of Americas and its very extensive library of educational material and interconnectivity capabilities with universities, libraries, hospitals, government agencies and corporations. The Portal will provide the perfect platform for Gridline to launch a very diverse set of offerings such as video on demand, Voice over IP (VoIP) telephony, video teleconferencing and distance learning to individual and organizations across the globe through our Broadband via Powerline (BPL) technology. We anticipate having a definitive agreement, detailing the merger/acquisition, within the next few weeks," states Blaize Kaduru, CEO of Gridline Communications Holdings, Inc.
About Portal of the Americas
Portal of the Americas, Inc., a Nevada "C"corporation, holds content and provisioning license for the Educational Portal of America, a web-based platform formed through an initiative of the Inter-American Agency for Cooperation and Development (IACD) of the Organization of American States. This license provides for the commercialization of the content and services currently available on the Portal as well as expanding the Portal through introduction of new and innovative content and services, initially targeted at the 18 to 25 age group. These services are consistent with the IACD's mission to forge new private/public-sector partnerships to help the people of the Hemisphere overcome poverty, benefit from the digital revolution and advance their economic and social development. The development of the Educational Portal has been made possible through a Cooperation Fund established by the United States and through strategic alliances with public and private-sector institutions. To learn more about the Educational Portal of America, please visit: www.oas.org/main/main.asp?sLang=E&sLink=http://www.educoas.org.
About Gridline Communications Corp.
Gridline Communications Holdings, Inc. is a Texas-based corporation focused on Broadband over Power Line (BPL) deployment using proven BPL technologies, coupled with proprietary intellectual properties, to provide high-speed broadband connectivity and a variety of market-driven applications such as Voiceover Internet Protocol (VoIP) telephony, security, streaming video, telemedicine, and long-distance learning. Gridline's products are capable of reaching over 87 percent of the world's population without investing the significant additional infrastructure capital costs typically required with telecom copper wire, radio towers, or fiber networks. Additional information can be found by visiting its Web site at www.gridlinecommunications.com.
Forward-Looking Statements
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