China Voip & Dig Telecom (OTC BB:CVDT)

On June 22, 2009, we received an Event of Default Redemption Notice from Castlerigg Master Investments Ltd. with respect to the certain Amended and Restated Senior Secured Convertible Note issued by the Registrant to Castlerigg on or about December 21,2007, as amended December 8, 2008 (the “Financing Transaction”). The Financing Transaction is disclosed in more detail in the Form 8-k filed on December 26, 2007 and December 10, 2008, and all transaction documents are attached to that Form 8-ks and are herein incorporated by reference.

Source: SEC Form 8K (June 30, 2009)