Prestige Telecom Inc. announces additional information regarding private placement


    MONTREAL, March 27 /CNW Telbec/ - Prestige Telecom Inc. ("Prestige" or
the "Company") (TSX Venture: PR) advises that it has revised the structure and
increased the size of its previously announced private placement of up to
9,166,700 special warrants (the "Special Warrants"). The private placement
will now consist of concurrent placements up to an aggregate 7,500,000 Special
Warrants and up to 2,166,667 units of the Company (the "Units") at a price of
$0.60 per security for gross proceeds of up to $5,800,000 (collectively, the
"Offering"). As previously announced, each Special Warrant will entitle the
holder hereof, upon exercise or deemed exercise, to acquire one common share
of Prestige (a "Common Share") and one-half of one common share purchase
warrant of Prestige (each whole common share purchase warrant, a "Warrant").
Each Unit will consist of one Common Share of Prestige and one-half of one
Warrant of Prestige. Each Warrant will entitle the holder to acquire one
Common Share at a price of $0.70 per share until thirty-six (36) months from
the closing date of the Offering. The Common Shares underlying the Units will
be eligible and meet the criteria set under the Québec SMB Growth Stock Plan
(ACCRO), which program allows eligible institutions to claim a 100% deduction
on their Québec taxes for any ACCRO eligible shares they purchase.
    Prestige will pay a syndicate of agents including Blackmont Capital Inc.,
Loewen Ondaatje McCutcheon Limited and Versant Partners Inc. (the "Agents") a
cash commission of 7% of the gross proceeds of the Units upon closing of the
Offering and the Agents will be granted agent's compensation options (the
"Compensation Options") to purchase that number of units (the "Agents Units")
as is equal to 7% of the number of Units sold, at a price of $0.60 per unit
for a period of 24 months from the closing date of the Offering. Each Agents
Unit will consist of one Common Share and one-half of one Warrant.


    Prestige Telecom is a leading provider of network engineering, materials
furnishing, installation and support services (commonly referred to as EF&I
services) required to construct, operate and maintain wireline, wireless and
cable television networks. Prestige assists telecommunications original
equipment manufacturers ("OEM") and service providers to engineer, install and
upgrade their infrastructures to support enhanced voice, high speed data and
video services.
    In Canada, Prestige operates from three full service locations based in
Montreal, Québec; Toronto, Ontario and Calgary, Alberta and has
350 professional and technical personnel. Prestige operates in the United
States market through a mutual subcontractor agreement with Comforce Telecom
Inc. under the trade name Prestige Comforce Professional Services ("PCPS").
PCPS is based in Plano, Texas and provides services to customers throughout
the United States.


    This press release contains certain forward-looking statements with
respect to the Company. Such forward-looking statements are dependent upon a
certain number of factors and are subject to risks and uncertainties. Actual
results may differ from those expected. The information contained in this
press release is dated March 27, 2008, the date on which the Directors
approved this press release. Management does not assume any obligation to
update or revise any forward-looking statements, whether as a result of new
information or future events, except when required by the regulatory

    The TSX Venture Exchange Inc. does not accept responsibility for the
    adequacy or accuracy of this release.

    This news release does not constitute an offer to sell or a solicitation
of an offer to buy any of the securities in the United States. The securities
have not been and will not be registered under the U.S. Securities Act or any
state securities laws and may not be offered or sold within the United States
or to U.S. persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such registration is

For further information:

For further information: Prestige Telecom Inc.: Pierre Yves Méthot,
Chairman and Chief Executive Officer, (514) 457-4488, Ext. 277,; MaisonBrison: Martin Goulet, CFA, (514) 731-0000,

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