Dear Business Associates,

I am pleased to have this opportunity to share with you the exciting developments happening at the UNIFI Holdings.

This has been a challenging year as we entered many trends and license opportunities in Europe, and in the mean time, restructured our organization in order to deliver higher quality services and better efficiency with our resources. Most importantly, we continued to invest in building a strong organization across the world. We have a distinct approach to our business and a great commitment to our world wide customers and their best interests. Our strategy is based on a simple idea: providing the best-in-class services for our customers that will lower their costs and increase their revenues. In our view, this approach drives investment performance and customer retention. Our ability to execute this strategy rests on the strong values that we hold as an organization:

 Excellence   Integrity   Dedication   Commitment   Accountability

The foundation of UNIFI Group Companies has been always developing friendly business relationships and steadily growing by investing in the key industries. During the recent years, we have partnered with major telecom operators and equipment vendors to realize our mission in migrating the PTTs into more advanced IP based technologies while continuing to provide communication services to operators and carriers. We provided the Internet services in Sierra Leone, partnered with many local carriers in Africa and Middle East and continued to grow.

At UNIFI Communications, we will be rolling out powerful enhancements to our billing system for the 2008 season that will give our partners even more flexibility, ease of use, and for the first time, the ability to manage all of their traffic and financial reporting on a single enterprise-wide system. We will be also providing online support to solve network problems proactively.

Over the coming months, the challenging business and the competitive business environment will not change. Neither will our commitment to deliver the highest quality services. We will continue to grow by investing in the major sectors other than telecom, such as energy and finance services. We will participate in many tenders across the world by partnering with major corporations and serve our customers in the large and growing markets. As being the first entrepreneurs of implementing IP based technologies, we are committed to add more destinations and services over the next several years. We are continuing to look for investment capital to move forward on several initiatives; these include the acceleration of the development efforts of our services, resources to market our new products and the pursuit of stronger alliances with our strategic partners.

It has taken us a little longer than we expected, but we believe that the long-term value of the Company is still ahead of us. The executive team and all of the employees are committed to building value, and we will all do our best to protect our customers’ interests at every turn. I look forward to updating you with significant developments in the near future, and please visit our website regularly for the latest news available.

Sincerely,

Adrian Shatku
President, CEO