(BSNS WIRE) Global Telemedia International Secures Proprietary Internet
Global Telemedia International Secures Proprietary Internet Technology
Business Editors
ATLANTA--(BUSINESS WIRE)--Dec. 22, 1998--Global Telemedia
International Inc. (OTC Bulletin Board: GTMI - news; "GTMI") announced
today that it has entered into a formal agreement with Utility
Communications Corp., of Los Angeles to license proprietary technology
specifically targeted to address the markeplace's need for high-speed
access to the Internet.
This wireless technology, transported via satellite utilizing the
K-A Band, can deliver a robust 10Mps of bandwidth with the capability
to both send and receive voice, data and video transmissions. This
technology requires a basic set-box to be deployed at the subscribers'
location. This customized set-box is presently in development and is
being engineered to satisfy universal capability in order to provide
worldwide access.
Roderick A. McClain, GTMI president and chairman stated, "The
applications of this technology are numerous, including both
commercial and residential opportunities. Our ability to provide this
service without the middleman ("Internet Service Provider") will
position GTMI to be at the forefront of competitive pricing.
"The company anticipates the retail price of the set-box to be
$295.00 with monthly subscription fees matching those of present
Internet Service Providers. The increased bandwidth to 10 Mps as well
as the host of additional features clearly sets this service apart
from traditional ISP connectivity.
"We not only anticipate a significant volume of revenue from
those seeking high speed Internet access, as well as new Internet
customers who do comparative shopping. We look forward to the
recurring revenue base as a result. Following our focus on the
Internet, GTMI plans to concentrate its marketing on state of the art
videoconferencing."
GTMI is a full-service communications and information processing
company focusing on international communications networking in
emerging countries. Additionally, GTMI is developing its own
proprietary technology to complement these efforts.
The statements contained in this release may contain
forward-looking statements relating to such matters as anticipated
financial performance, business prospects, technological developments,
new products, research and development activities and similar matters.
The Private Securities Reform Act of 1995 provides a safe harbor for
forward-looking statements. In order to comply with the terms of the
safe harbor, the Company notes that a variety of factors could cause
the Company's actual results to differ materially from the anticipated
results or other expenditures expressed in the Company's
forward-looking statements. These risks and uncertainties are detailed
in the Company's Form 10K for the period ended December 31, 1997, and
are incorporated herewith by reference.
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CONTACT: Mark Wachs and Associates, New York
Mark Wachs, 212/832-2800 (21
) 832.2800
KEYWORD: GEORGIA
INDUSTRY KEYWORD: TELECOMMUNICATIONS COMED
INTERACTIVE/MULTIMEDIA/INTERNET
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