INTRODUCTION

The OTC Digest is pleased to introduce Eagle Ventures, International (EGVI.PK) the parent company of a high growth global Voice-over-Internet Protocol (VoIP) service started in 2004 called TelExtreme. This fast growing telecommunications business offers three types of VoIP service: residential, international, and pre-paid “pay as you go” calling plans, to both business and individual customers.

To date, TelExtreme’s revenues have been generated primarily in Brazil, with lesser contributions coming from Mexico and Malaysia. This has helped the company fine tune their sales and marketing effort, as well as generate outstanding financial results in a very short time. Last month, the Company announced the introduction of service to the United States, where VoIP usage is expected to increase 60% to nearly 32 million customers over the next two years industry-wide. The Company plans to enter up to a dozen other high-growth markets this year as well.

One of the most exciting details of TelExtreme’s business model is the fact that they incur very low customer acquisition costs by using a direct sales approach. EVGI pays out 50% of their retail revenue to a growing network of independent global distributors, with calling plans that start at $39.95 per month. Whereas Vonage and other large VoIP players spend $250-$360 to acquire a new customer, TelExtreme has reduced their cost to add a new customer to about $100.

The ability to acquire customers so effectively provides EGVI with a tremendous competitive advantage, and is why we like this little firm over their bigger competitors. As EGVI meets their business’ growth objectives, as revenues grow so should their share value.

FUNDAMENTAL OUTLOOK

In 2005, their first full year of operations, TelExtreme generated $3.4 million in sales. By year-end 2006, revenues ramped up to $30 million which generated over $2.5 million in EBITDA, and approximately $2 million in net income. In the 3^rd and 4^th quarters of 2007, TelExtreme invested heavily into migrating from third party vendors to reduce their operating costs by nearly 60% on a forward-going basis, and implemented strategic improvements to the affiliate compensation plan, which immediately resulted in the reduction in turnover of sales affiliates and customers to nearly zero. Because of this forward-thinking strategy to invest into long-term scalability, efficiency, and customer retention, the Company expects to take a 4^th quarter write down that will adversely impact last year’s overall operating performance.

Audited financial statements for 2007 are expected to be completed by the end of April, 2008, and EGVI projects 2007 revenues will come in equal to 2006, at about $30 million. At a recent share price of $0.55, EGVI is trading at a market capitalization of about $42 million, or less than 1X projected 2008 revenues.

Thanks to last year’s strategic operational changes and the integration in the first quarter of 2008 of a state-of-the-art VoIP platform, CRM, billing and global payment processing systems, for 2008 EGVI is projecting revenues of $45 - $50 million, a 50%+ increase over 2007’s operating results, with the ramp up beginning in earnest in the 2^nd quarter.

Regarding their recent entry into the U.S. Voice over IP market, TelExtreme’s President Tim Langston recently commented, “We are excited about our entry into the U.S. market where, according to independent research, VoIP is expected to expand to upwards of 12% of the U.S. population by 2009. Our marketing model is all about increasing the public’s awareness of how our service can benefit every new VoIP user. TelExtreme is poised to take full advantage of the tremendous growth of VoIP customers in the U.S. and other high growth markets abroad in 2008, and beyond.”

The fundamental outlook for EGVI could be dramatically enhanced by developments outside the scope of this report. We encourage aggressive growth stock investors to continue their own due diligence to learn more about another business with big potential that EGVI recently acquired.

TECHNICAL REVIEW

Shares of EGVI have been trading between $0.55 and $0.65 since the Company became public in early December, 2007. Despite a weak overall stock market, shares of EGVI have yet to establish any clear or discernable trading pattern that might suggest a price breakout is imminent or forthcoming. The good news is, shares have held up remarkably well in an environment where market leaders like Google (NASDAQ: GOOG) and Apple (NASD: AAPL) have experienced significant share price corrections.

THE BIG PICTURE

Eagle Ventures International Inc. (EGVI: PK) shares appear to represent an excellent speculative value given the current dynamic growth rate being achieved by their profitable TelExtreme subsidiary. At just over 13X anticipated 2008 earnings, with earnings growth projected at over 100% per year for the next two years, a strong case can be made for a higher P/E multiple today.

Consider that the average telecommunications stock trades at about 19x earnings. As we stated at the top, as investors realize the competitive advantage they hold in acquiring a customer, it would be natural to assume EGVI would have a great opportunity to work their way to the top of the P/E multiple list.

Should EGVI hit their profit target of $6 million for this year, we would expect their P/E multiple to expand to at least the average of other telecommunication companies, or 19X. If we take that math a little further, 19 times $6 million would translate into a market capitalization of roughly $114 million. With 76 million shares outstanding, that would represent $1.50 per share, or nearly three times the level shares are trading at today. That’s a risk reward ratio we think most investors will find to be appealing in any market environment.

The OTC Digest has not factored one of EGVI’s other businesses into the financial equation either, and will leave it to our Members to explore this “wild card” on their own. Any way you slice it, Eagle Ventures International, Inc. represents an exciting opportunity serious micro cap investors would be well advised not to miss.

Company Information:

Web Site: www.eagleventuresinc.com

Stock Quote:  OTC:EGVI

Investor Inquiries Contact:

Eagle Ventures, Inc.

Investor Relations

T: 208-639-8300

info@eagleventuresinc.com