March 18, 2003 - San Jose,CA - Phonex Corporation TM Corporation (www.phonex.com), a world leader in Power Line Carrier (PLC) voice and data communication devices, has just been named one of "Five Most Promising Companies" at the recent Semiconductor Venture Fair II. Phonex won the award for its presentation on the new ReadyWire Powerline Home Communications Chip.

The new ReadyWire chip, which the company plans to provide to developers later this year, will introduce vastly improved methods for connecting every type of device in the home, including consumer electronics, MP3 players, home audio and voice systems. The ReadyWire uses inexpensive, common design interfaces and will provide high reliability and compatibility with current communications.

"Phonex introduced the ReadyWire Chip to the semiconductor industry at this event," said John Knab, CEO of Phonex. "We are pleased that it received such high validation from industry experts in Silicon Valley. Our launch efforts are advancing quickly and we are pleased with the companies already committed to developing voice, audio and data devices around this technology."

The Semiconductor Venture Fair II, held in Silicon Valley, attracts the leaders in the semiconductor venture market to present their products and business plans to a broad industry audience. Over 70 companies participated in the presentations, after which votes were cast for the "Five Most Promising". Participant companies came from around the world with products ranging from development tools to new semiconductors.

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Founded in 1988, Phonex Corporation, based in Midvale, Utah, is a privately held company recognized as the world's largest supplier of powerline-based voice and data products. Phonex Corporation's proprietary technology enables telephone and data devices to communicate reliably using standard electrical wiring. The technology is protected by multiple patents and Phonex has sold more than 10 million powerline products worldwide. Phonex recently announced the ReadyWire Home Communications Chip, a patented powerline technology capable of streaming audio, voice and home control over standard home electrical wiring. www.phonex.com

Phonex Corporation and NeverWire 14 are trademarks of Phonex Corporation. All other company names and trademarks are the property of their respective companies.

PR Contacts:

Cheryl Snapp or Tim Rush
Snapp Norris Group (SNG)
1.801.226.3223
1.801.226.3883 fax
cheryl.snapp@sng.com or tim.rush@sng.com

Company Contact:

Brad Warnock, Director of Marketing
Phonex Corporation
1.801.984.5107
1.801.984.5007 fax