North Wave and ITXC Enter into Agreement to sell Internet Telephony Services

Business Wire, August 30, 1999

LAS VEGAS--(BUSINESS WIRE)--Aug. 27, 1999--

North Wave Communications Corp. (the "Company") (OTC BB:NWAV) issued the following news release today to update its ongoing business activities.

North Wave Communications Corp., http://www.northwave.net is a communications company newly developed to acquire strategically important telephone and IP-based communications companies. In an effort to bring new resources to the company, NorthWave has initiated it's Voice-Over-The Internet (VoIP) strategy by signing an agreement with ITXC (Nasdaq:ITXC) a New Jersey, USA based company. ITXC is the leader in call completion of end-to-end Voice over the Internet and is the "largest global Internet telephony network in the industry" http://www.itxc.com/.> The initial Agreement between NorthWave and ITXC allows NorthWave to sell access to the networks already connected to ITXC. NorthWave is an operating IP base communications company that will sell it's own product in it's own name to it's own customers. ITXC will provide under-lying carriage for NorthWave as a non-related company. ITXC operates as a wholesaler providing services and networks to IP base companies which in-turn sell services to the public. ITXC connects many individually owned VoIP gateways to a worldwide seamless network.

NorthWave plans to add VoIP calling to it's Internet Access CISCO Systems http://www.cisco.com based Internet dial-up network. Using ITXC allows NorthWave to utilize leading gateway manufacturers of VoIP equipment such as Lucent Technologies http://www.lucent.com PortMaster or VocalTec Gatekeeper 4.0 http://ewww.vocaltech.com . Building on calling patterns NorthWave plans to install it's own Internet Telephony equipment in locations which justify dedicated gateways.

On Behalf of the North Wave Communications Inc., Board of Directors: ---------------------------------- D. Kelly Daniels Director

Certain matters discussed in this Press Release may constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995 and, as such, may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. Readers are cautioned not to place undue reliance on the forward-looking statements made in this Press Release.

FOR FURTHER INFORMATION CONTACT INVESTOR RELATIONS AT 1-877-538-3434

About North Wave:

North Wave Communications Corp., http://www.northwave.net is a communications company newly developed to acquire strategically important telephone and IP-based communications companies.

About ITXC Corp:

ITXC Corp.(TM) is a tier 1 carrier of Internet telephony. ITXC's wholesale Internet telephony network with PoPs in 62 cities in 30 countries is the largest in the industry. Its WWeXchange(SM) Service provides wholesale call completion at attractive prices and with consistent quality to any phone in the world using a combination of Internet telephony and traditional PSTN. Its customers and affiliates are traditional telephone companies, new competitive carriers, ISPs, prepaid calling card companies, call back companies, and newly formed Internet telephony service providers. Announced carrier affiliates include Bell Atlantic, China Telecom and Korea Telecom.

ITXC was founded by Tom Evslin in 1997 following his departure from AT&T where he developed the concept for and built AT&T's WorldNet ISP. Evslin joined AT&T from Microsoft where he was responsible for the "BackOffice" products. ITXC was founded with seed money from AT&T and VocalTec. ITXC has since been capitalized with over $33 million from an international group of venture investors and strategic partners.

For more information on ITXC Corp, visit http://www.itxc.com.

ITXCTM, WWeXchange(SM) Service and ITXC.net(TM) are trademarks and service marks of ITXC Corp.

Any other trademarks and service marks belong to the respective company.