Farmingdale, NY

FARMINGDALE, N.Y. -- Telrad Connegy (www.telradconnegy.com), developer and suppler of the "UNITe" enterprise telecommunications systems, today announced that it has completed a financing round. The capital raised by the company will be used mainly for sales and marketing activities of it's new IP product line. The new IP product line will be announced in Q4 of this year. The investors in this round include Telrad Networks and venture capital firms: Vertex Venture Capital - Israel, Giza Venture Capital, Elwin Capital Partners, and the Challenge Fund.

Israel Ronn, CEO of Telrad Connegy, said: "The Company plans to utilize the funds to launch a new IP product line in order to better serve our network of dealers and together to market this new product line to their end users, worldwide. Telrad Connegy is committed to delivering outstanding value to customers and shareholders, and is extremely pleased to have completed this new investment in the company."

Telrad Connegy operates in the United States, Eastern and Western Europe, Africa, Asia, and Israel. The company recently announced the successful conclusion of a number of deals, among them, the sale of communications systems to the Russian Space agency.

Telrad Connegy is currently putting the final touches to the development of its new IP product line to be announced later this year.