Another Release/DCI'S VERSION
OTC BB DCTC For Immediate Release: October 21, 1996
DCI & Franklin Clarify Relationship
DCI Telecommunications Inc. of Fairfield, Connecticut and Franklin
Telecommunications Corp., of Westlake Village, California announced today
that they have signed a new incentive agreement to redefine and clarify their
cooperative relationship. The contract which is financial in nature provides
DCI the right to acquire an ownership interest in FNet based upon the amount
of capital raised by DCI for FNet during the next 90 days.
Under the terms of the new non exclusive agreement, DCI will receive
compensation of 10% of the cash raised in cash or 20% of the cash raised in
FNet common stock for capital which DCI is able to generate for FNet. "This
is a good, sound business deal for DCI", agrees Joseph Murphy. "It allows us
to continue to develop the financial contacts we have made who are interested
in supporting FNet. In conjunction with the new agreement, Joseph Murphy has
accepted a seat on the Board of Directors of FNet.
FTEL and DCI confirm that the Privilege Card and all other DCI products and
concepts are the sole property of DCI. Also, as DCI's sole function for FTEL
under the new agreement is to raise capital, all joint ventures or other
agreements between the two companies have been canceled.
The new agreement allows DCI to focus its effort and resources on its
existing businesses and finalizing the announced merger with American Cash
Card Corporation and the acquisition of Muller Media. Upon finalizing the
agreements with these two companies, DCI will have annual sales of $25 to $30
million and will be able to apply to NASDAQ.
For additional information please contact:
Daniel Murphy
DCI Telecommunications
Investor Relations
Phone: (203) 259-7713
Email: dcitel@aol.com
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