TELESOFT CORP. Announces Record TelMaster Systems Bookings in 2001

PHOENIX, AZ. (January 21, 2002) Telesoft Corp. (Nasdaq: TSFT; PSE: TSF) today announced that it booked 35 new customers totaling in excess of $4 million in new TelMaster system sales in the fiscal year ended November 30, 2001, reflecting a growth rate beyond 100% over the previous year. The average price per sale increased 80% to $120,000. New customers include one Fortune 50, numerous Fortune 500 corporations, large government agencies, healthcare organizations, higher education and Regional Bell Operating Companies.

Eric Kaufman, COO of Telesoft, comments, "This is a record breaking year for Telesoft. We are delighted to announce these record bookings especially amid rampant corporate delays for large capital expenditures. Our bookings reflect the critical role of our product in controlling and allocating telecommunication costs. Based on current contracts under negotiations, and general market trends, we expect our 2002 results to continue to show healthy growth as we continue to expand product functionality, enhance our services and add new products to our suite of software solutions."

Telesoft Corp. "Measuring What You Manage" - provides billing, expense management, cost allocation and asset management solutions (Telemanagement)to the Fortune 1000's, educational institutions, military and governmental agencies.

This report contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements including uncertainties regarding the effectiveness of initiatives to introduce and implement the TelMaster product. Certain factors which may cause such a difference include, but are not limited to, the following: the impact of increased competition from competitors with significant financial resources and market share; unforeseen difficulties in integrating acquired businesses and launching new businesses; and the amount and rate of growth in general and administrative expenses associated with building a strengthened corporate infrastructure to support operations.