SAN FRANCISCO--(BUSINESS WIRE)--Feb. 22, 1999--
-Venture Opens Economical Long Distance Access in Major
International Markets-
Group V subsidiary, Academy Network Services (ANS) and Sunrise
Telecom announced today a joint venture to provide an international
telephony gateway through a co-location agreement with ANS's Little
Rock, Arkansas operations center.
To begin in April, the co-location drastically reduces long
distance costs for ANS and expands the international calling network
with cost-effective Internet Telephony service.
According to Joseph Monterosso, Chairman and Chief Executive
Officer of Group V, "By integrating Internet Telephony technology at
this stage in the growth and development of ANS, the Company has
positioned itself to take full advantage of the tremendous
opportunities that the Internet offers our customers with a worldwide
calling network."
Under the terms of the co-location agreement, establishing the
Little Rock telehub allows Internet calls to originate and terminate
from Academy's switching network to Sunrise Telecom's global network
gateways in Lebanon, Kuwait, Sri Lanka and Egypt. The Company
indicated that new gateway access established will systematically
expand the Company's service network to other international markets
over the next two years.
Phillip Kennedy, Vice President of Operations for ANS stated,
"The migration to Internet Telephony is a natural progression in the
telecommunications development for ANS as we expand our worldwide
network. The most obvious benefit for us is the anticipated reduction
in international long distance rates of up to 90 percent." Kennedy
commented that the gateways are an integral part of the Company's
plans to target specific countries to market high quality
telecommunication products at cost-effective rates. ANS is
anticipating significant growth in Internet Telephony over the next
twelve months.
Internet Telephony is expected to represent 20 billion minutes of
voice communication within the next two years. The technology reduces
long distance costs by using the World Wide Web to carry high quality
voice transmission.
Academy Network Services is a wholly owned subsidiary of Group V
Corporation (GRPV) specializing in niche telecommunication products
and services. As a long distance carrier, Academy has the ability to
support various configurations of pre-paid phone card traffic on debit
platforms and maintains unlimited capacity for one plus and toll free
long distance traffic for a variety of residential and business
applications.
Group V Corporation (a publicly traded company OTC: GRPV) is a
diversified telecommunications company specializing in some of the
world's most profitable market segments including one plus, toll free
long distance and pre-paid phone card products. Group V has created a
network of complementary companies, many of which offer products and
services of their own, many of which market, develop or deliver the
products of companies within the Group V family.
Forward-looking statements in this release are made pursuant to
the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995. Investors are cautioned that such forward-looking
statements involve risks and uncertainties, including, without
limitation, continued acceptance of the Company's products, increased
levels of competition for the Company, new products and technological
changes, the Company's dependence upon third-party suppliers,
intellectual property rights and other risks detailed from time to
time in the Company's periodic reports filed with the Securities and
Exchange Commission.
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CONTACT: Group V
John Steward, 415/575-0227
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED
INTERACTIVE/MULTIMEDIA/INTERNET TELECOMMUNICATIONS
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