TelePlus: Record-Breaking First Quarter Discussed by Company CEO: Revenues Reached an Astounding $6.79 Million with Positive EBITDA and Net Income

May 18 2006

--------------

2006

----------------

Net revenues 6,797,553

Cost of Revenues 4,127,240

----------------

Gross Margin 2,670,313

General, Administrative and

Selling 1,994,211

----------------

Income (loss) before interest,

income taxes, depreciation and

amortization and discontinued

operations 676,102

Depreciation, Amortization,

Interest Expense 477,601

----------------

Income (loss) before Income

Taxes 198,502

Income Taxes -

----------------

Net income (loss) from

Continuing Operations 198,502

Net loss on Discontinued

Operations (161,351)

----------------

Net Income (loss) for the Year 37,151

Income (Loss) per share

From continuing operations 0.03

From discontinued operations (0.02)

----------------

Net income (loss) per share 0.01

Weighted average shares

outstanding: 86,403,786

----------------

----------------

>>

About TelePlus (OTCBB: TLPE) http://www.TelePlus.ca

TelePlus Enterprises, Inc. ("TelePlus") is a diversified North American telecommunications company with offices in Miami, Florida; Montreal, Quebec; and Barrie, Ontario. TelePlus was founded in 1999 and it has since become a leading provider of wireless and telecommunications products and services across the U.S.A. and Canada. In October 2003, TelePlus became a publicly traded Company on the OTCBB under the symbol TLPE and since then it has continued to grow organically and through strategic acquisitions. The company's wholly-owned subsidiaries include TelePlus Wireless, Corp. which operates a virtual wireless network selling cellular network access to consumers and distributors in the United States under the "Liberty Wireless" brand and TelePlus Connect, Corp. which resells landline, long distance and Internet services in Canada under the "Telizon", "Freedom" and "Avenue" brands.

The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development and acquisition of new product lines and services, government approval processes, the impact of competitive products or pricing from technological changes, the effect of economic conditions and other uncertainties, and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on Form 8-K. TelePlus Enterprises, Inc. takes no obligation to update or correct forward- looking statements.

To view the Wall Street Research Report & Analyst Interview, please visit Interview: http://www.teleplus.ca/download/TLPEAnalyst.wmv Report: http://www.wallstreetresearch.org/reports/tlpe.htm

To view our most recent Investology research report, please visit http://www.teleplus.ca/download/TLPEUPDATE17April06-Final.pdf

Listen to our Q4 webcast at: http://www.newswire.ca/en/webcast/viewEvent.cgi?eventID(equal sign)1409540

To view the CEO interview on the floor of the AMEX, please visit http://www.teleplus.ca/download/TLPE.wmv

To view the most recent trader's report on TelePlus, please visit http://www.teleplus.ca/download/TLPEtrader.wmv