BOCA RATON, Fla., Jan. 24 /PRNewswire-FirstCall/ -- iPhone2, Inc. (OTC Pink Sheets: IPHN), a publicly traded company that has created a proprietary Video and Voice Internet soft-phone called ImagePhone2(TM), today announced their C.P.A. accounting firm, Horkey and Associates, P.A., has completed their 2005 financials, which can be seen at http://www.pinksheets.com/quote/finance.jsp?symbol=IPHN . iPhone2 is currently interviewing auditors and anticipates announcing they have en engagement letter with an SEC auditing firm to start their audit later this week. The Company's product, called ImagePhone2, is the Next Generation of Internet-based Video and Voice Communications. Utilizing its robust redundant carrier grade platform, iPhone2's customers can originate and receive Video and Voice calls both on and off the Internet anywhere in the world utilizing their desktop or laptop computer with a standard broadband connection. iPhone2 has achieved over 2,000,000 downloads of ImagePhone2 since coming out of beta testing in September. "We look forward to completing our audit and filing our Form 10," said Chip Greenberg, iPhone2's President and CEO. "We are extremely excited about iPhone2, and know it's important for the public to have all the information they need to make informed decisions about iPhone2, Inc. stock," added Greenberg. iPhone2 currently trades on the Pink Sheets. The Wall Street Journal Online recently published a story discussing Pink Sheets, LLC.'s initiative to improve the listing requirements and level of information available on companies that list in the Pink Sheets. (http://webreprints.djreprints.com/1371340963253.html ) "I applaud Mr. Coulson's efforts to separate companies quoted on the Pink Sheets that post audited financials from those that do not," added Greenberg. "These efforts are long overdue." For more information, please visit http://www.iphone2.com/ . Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. Although iPhone2 believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any assumption could be inaccurate, and, therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward- looking statements included herein, the inclusion should not be regarded as a representation by iPhone2 or any other person that the objective and plans of iPhone2 will be achieved. Contact: Chip Greenberg iPhone2, Inc. 561-862-5940 First Call Analyst: FCMN Contact: chip@iphone2.com DATASOURCE: iPhone2, Inc. CONTACT: Chip Greenberg, iPhone2, Inc., +1-561-862-5940 Web site: http://www.iphone2.com/ http://www.pinksheets.com/quote/finance.jsp?symbol=IPHN

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