Franklin Telecom's FNet Expands Telephony Service to Include
Central America JV with IDM Satellite Accelerates FNet
Deployment
WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--July 11, 1998--
Franklin Telecom (OTC BB:FTEL - news) today announced that its
subsidiary FNet Corp. has entered into a Joint Venture contract with IDM Satellite Division, based in Chula Vista, Calif. The agreement calls for FNet to team with IDM to provide Voice over IP services in Guatemala, El Salvador and Honduras.
Terms of the contract call for FNet to provide the hardware and network resources while IDM will be responsible for In-Country Licensing, Marketing and Satellite Transmission. Licensing is already current and in place in Guatemala. Final approval is expected shortly in El Salvador and Honduras.
FNet President Kevin Kuykendall stated: ''We are delighted that our partnership with IDM Satellite will facilitate our immediate entry into Latin America. This is consistent with our strategy for using Joint Ventures along with acquisitions and collocations to accommodate the roll-out of our next generation telephone network. Along with an
increased global presence, this contract brings FNet an increase in our minutes per month capacity. We are currently in negotiations with IDM Satellite to include additional countries.''
FNet Chairman Frank Peters continued, ''The state-of-the-art Class 4 Harris 20-20 switch which will link both our rapidly deploying domestic and international sites has arrived in L.A. and is expected to be operational for testing next week. With the addition of this switch, we become a fully functional common carrier.''
The FNet Next Generation Global network utilizes traditional land lines, Internet telephony and satellite technology to assure toll quality calls by the most cost efficient means throughout the world. Current roll-out plans call for 250 international sites within thirty-six months.
IDM Satellite Division (www.idmsat.com) was founded in 1988 and is a leader in providing international wireless communications and
satellite interconnect, with particular emphasis on Latin America and Africa.
The primary business of Franklin Telecom, founded in 1981, is the
design and manufacturing of communications devices, high speed LAN, WAN, Telco and Satellite Systems and software. Franklin has an
installed base of over 100,000 nodes worldwide. Franklin's Internet subsidiaries, FNet and Internet Passport provide services using FTEL products.
Certain statements in this press release constitute ''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
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance, or achievements of the Company to be materially different
from any future results, performance or achievements, expressed or
implied by such forward-looking statements.
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end of press release
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Joe, join us on the ftel discussion thread
www3.techstocks.com
The company is underway with the summer roll-out of fnet, lots of
news, and information. Progress is being made, check the officer's
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