Averox Acquires Provisus Ltd

Averox Inc. (OTCBB:AVOX) today announced that it has reached an agreement to acquire the assets of Provisus Ltd, a software development company based in the UK.

Under the terms of the agreement, Averox acquired all tangible and intangible assets of Provisus, including, but not limited to: Provisus software, service activation and provisioning, Provisus’ trademark, website and marketing materials, and intellectual proprietary rights, source code of core module and all developed modules as of August 5, 2008.

The main product of Provisus Ltd is a provisioning and activation software solution called Provisus used by both fixed line and mobile telecom operators.

Averox has been an exclusive worldwide reseller of the Provisus product for over a year.

“Provisus is an excellent product and we and are pleased that it is now part of the portfolio of products owned by Averox,” said Mr. Salman Mahmood. “The resources and expertise already in Averox will enable Provisus to be rapidly developed to provide solutions for an increasing range of telecom services. Additionally we can further drive Provisus sales by tightly integrating it with other Averox OSS solutions,” he concluded.

In exchange for the Provisus Assets, Provisus acquired Averox’s contingent claims for commissions due from five companies. The aggregate amount of the contingent claims cannot be determined at this time as no information regarding commissionable income has been received from the five companies. If Provisus collects more than $500,000 from the disputed accounts, Provisus will pay seventy-five percent of such excess to Averox after deducting its legal costs. Provisus is owned by Mr. Salman Mahmood, President and CEO and the controlling shareholder of Averox.

In addition to the transfer of the disputed receivables, under the terms of the Purchase Agreement, Averox will pay Provisus, in perpetuity, a royalty equal to twenty percent (20%) of all revenue generated from the sale of Provisus software and services in excess of $5 million in revenues in the aggregate, and either $1 million in cash on the first anniversary of the date of the Purchase Agreement or shares of the Company’s common stock if no cash is available after one year valued at $5 million based upon the then current market price of Averox’s shares.

About Averox Inc. (www.averox.com)

Averox Inc. (OTCBB:AVOX) is a publicly held independent provider of solutions and services in the domains of Telecommunication Engineering, Telecommunication OSS and BSS and Information Technology. Averox services include offshore product development, application management, project management, program management, telecommunications network deployment, management, optimization and maintenance for small, medium and large enterprises. Averox Inc. has two principal subsidiaries Averox Private Limited and Averox FZ-LLC.

This news release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on Averox management’s current expectations and are subject to risks and uncertainties and changes in circumstances. All forward-looking statements included in this press release are based upon information available to Averox as of the date of the press release, and it assumes no obligation to update or alter its forward-looking statements whether as a result of new information, future events or otherwise. Further information on risks or other factors that could affect Averox’s results of operations are detailed in the filings of Averox with the SEC.

Contacts

Averox Inc.
Trudy Self, Investor Relations
+ 1 909 336 5685
or
Graham Hill, SVP Sales and Marketing
Ovais Mukhtar, Marketing Department
Tel: +1 (0) 248 449 2972
Fax: +1 (0) 248 348 5760
Email: investors {at} averox(.)com
www.averox.com