updated 11/30/2010 8:16:51 AM ET 2010-11-30T13:16:51

MONTREAL, Nov. 30, 2010 (GLOBE NEWSWIRE) -- Hipso Multimedia Inc. (OTCBB:HPSO) is pleased to announce a corporate update.

Dear Shareholders and fellow investors,

We thank you for your interest and continued support in Hipso Multimedia, Inc. (HIPSO). We are extremely pleased to update our shareholders and investors at this time.

2010 has been a year of tremendous progress at the corporate level for Hipso. Of particular note, we successfully completed our "triple play" distribution network in Montreal. We are now offering and delivering high speed internet, telephone and high definition TV in one package to over 1500 subscribers on a recurring revenue model.

Valtech Communications Inc., the wholly owned subsidiary of Hipso Multimedia Inc., is now launching the second phase of its international business plan. Hipso has completed the design and engineering of the next phase of its network deployment.   Hipso is now expanding its business from being a retail "triple play" service provider to adding and becoming a wholesale supplier of IPTV (Internet Protocol Television) services to the thousands of North American ISPs (Internet Service Providers) and small rural telecommunications companies that currently can't offer these desperately needed services to their subscribers.

Telcos and broadband companies around the globe are jumping onto the IPTV bandwagon. According to a recent analysis by Infonetics Research, this explosive market is on target to receive $26 billion of new investment capital in calendar 2010.

In their quest to pull themselves from the throes of a decaying voice telephony business, Telcos have one major hope: IPTV. This breakthrough technology promises to transform television, and in the process re-energize Telco's business by reducing customer turnover and introducing new revenue streams. The Internet is the threshold of new technology these days, and the future of TV is in its hands.

A recent survey by Harris Interactive(R) conducted among U.S. adults explores consumer awareness and interest in IPTV, an upcoming digital television service that is delivered through Internet protocol over a broadband connection. Despite limited availability in the United States, more than half (56%) of all U.S. adults say they have heard of IPTV and substantial numbers indicate interest in adopting it for use on their televisions and home personal computers. The survey also shows how the adoption of IPTV may impact cable and satellite providers and the types of providers that may be able to capitalize on this new technology.

With its privileged relationship with its IPTV equipment supplier "Ericsson", HIPSO is implementing a carrier grade IPTV distribution network facility to service the growing demand from thousands of ISPs and Telcos for a turnkey solution to deliver IPTV signal to the masses. Furthermore, HIPSO has secured a North American distributor license agreement from Oriana Technologies, the licensee of "Select TV S.A.",  for the distribution of the most advanced IP Set top box available on the market.

A copy of the press release announcing Valtech and Ericsson's relationship can be viewed on Ericsson's website here:

http://www.ericsson.com/campaign/televisionary/#/proof/proof/valtech_communications_canada__iptv_

This allows Hipso to become the only distribution network that can offer an end to end complete turnkey solution for the resale of IPTV services. Features such as 200 IPTV channels in true 1080 P High Definition format, interactive games, extensive "video on demand" library, internet functionally on the viewers TV screen and many other features will be offered to the wholesale customer base for immediate deployment into   ISPs existing retail markets. For many ISPs and Telcos this is the only way they can stop and reverse the erosion of their market share. Hipso is presently in contract negotiations with many of these service providers for long term delivery of IPTV services. All services rendered provide a recurring revenue model thereby securing the financial security of the company and strengthening the shareholder value.

To maximize its service delivery and to lessen its operational costs for its voice over IP solutions as well as increase its existing internet bandwidth, Hipso is presently in negotiation for the buyout of an existing ISP in Canada. If completed, Hipso would then augment its retail customer base by adding an additional 10,000 recurring revenue customers that would be converted into "triple play" service users.

Hipso remains confident that it will deliver on its original business plan to the market and that the company will succeed and have over 100,000 recurring revenue customers within the next five years, thereby returning to its shareholders strong repeating revenue streams and strong corporate profitability.

Thank you for your support and interest in Hipso.

Rene Arbic, CEO

About Hipso Multimedia Inc.

Hipso Multimedia, Inc., through its wholly owned subsidiary Valtech Communications Inc., provides cutting edge technology and service in the triple play telecommunications industry. It intends to become a major force in the IPTV (Internet Protocol Television Broadcasting) arena as well in DVBT (Digital Video Broadcast Terrestrial) network technology. The number of households around the world subscribing to IPTV services offered by telecom carriers will reach 48.8 million in 2010 according to Gartner, Inc., a worldwide recognized telecommunications consultancy. More than sixty (60) countries have announced their conversion to DVB-T national networks, which is the DVB European-based consortium standard for the broadcast transmission of digital terrestrial television (without satellite). This system transmits compressed digital audio, video and other data in a free to air mode (directly to the television without charge) to all television sets in a given country. Please visit www.HIPSO.tv and www.VALTECH.ca for additional information.

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

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