TelcoBlue Inc is pleased to announce that the Company has signed a Letter of Intent with Damsonite International, LLC to acquire the assets of the company. This potential acquisition will enable TelcoBlue to enter the $62 billion jewelry industry starting in 2008. The Company will sell raw damsonite stones to jewelers, as well as produce finished gemstones and jewelry for sale to distributors worldwide.

Damsonite has all of the desired qualities required to be considered an exclusive "new classic." Other gems in this category are the rising stars of gemstone jewelry, including tanzanite, tourmaline, aquamarine, imperial topaz, and tsavorite garnet.

These gems sell for approximately $50 to $1,000 per carat for an average to good quality one-carat cut stone. Some stones, such as tsavorite can reach upwards of $3,000 per carat. This acquisition of Damsonite International's assets will allow TelcoBlue to market this rare damsonite gemstone.

In addition to damsonite, Damsonite International, LLC sells and distributes a high quality product line of pearls, under the name Pearls by Van Tassell. Additionally, Pearls by Van Tassell has developed and marketed a specialty line referred to as "Daddy's Little Pearl," which is geared towards young girls and young women.

"We're very pleased to have signed a Letter of Intent with Damsonite International, LLC to acquire this jewelry innovator. In 2006, American consumers spent $62 billion buying jewelryand watches, posting a dramatic 6.5 percent increase over sales in 2005 of $58.4 billion," stated Jim Turek, CEO of TelcoBlue Inc.