McLean, VA August 28, 2008 -- iCore Networks, the leading provider of managed voice over IP communications in the Mid-Atlantic region, announced today the appointment of Peter Svensson as its Chief Financial Officer. Mr. Svensson will immediately assume a lead role in managing the company's growth strategy.

With iCore on pace to top $20 million in revenues in 2008, the company has emerged as one of the fastest-growing communications providers in the nation--and is poised to continue to expand its market penetration to a growing portfolio of companies that are seeking out cutting-edge telecommunications solutions that support their business needs. The addition of Mr. Svensson, a highly-experienced leader in the financial field, is a firm signal of iCore's commitment to taking its market penetration and growth prospects to the next level. Mr. Svensson brings expertise in the management of cross-cultural, cross-functional teams, and building strategic partnerships, which represent key success factors in the national and international arenas.

Having recently held the position of CFO at The PBN Company, Mr. Svensson brings to the position more than 13 years of experience in finance, management, oversight and administration. At The PBN Company, an international organization with business interests in five countries, Svensson oversaw the finance, accounting, human resources, and corporate development departments. Prior to PBN, Mr. Svensson worked with a high growth telecommunications software company where he managed the growth from four person, pre-revenue start-up to to a 200 person enterprise generating over $10 million in annual revenue.

Mr. Svensson's appointment at iCore is quite timely, with iCore having recently secured $2 million in a second round of equity financing. This capital infusion will be used to further expand iCore's network facilities and to support the aggressive expansion plans of the organization, with Mr. Svensson set to oversee the finance and accounting functions of this ambitious growth agenda.

As more and more companies turn to voice over IP technologies to stay ahead of their peers, Mr. Svensson and the rest of the management team are focused on ensuring that iCore remains the premier hosted voice over IP provider in the region. Stephen G. Canton, CEO of iCore states, "Peter Svensson is a key addition to the iCore management team and his hire is a major coup for our organization. He is a tremendous asset to our talented team of executives, and will play a major role in helping iCore to expand its reach and penetration in our current and future markets."