GTMI- JUMPS INTO THE INTERNET PICTURE..
3 INTERNET COMPANIES THAT ARE VERY HOT RIGHT NOW
(COMTEX) B: Global TeleMedia International, Inc. Forms Bentley Tel.co
B: Global TeleMedia International, Inc. Forms Bentley Tel.com Subsidiary
NEWPORT BEACH, CA, Oct 13, 1999 (BUSINESS WIRE) --
October, 13, 1999-
Majority owned Subsidiary to Include Three Telecom Acquisitions
Global TeleMedia International, Inc.(OTC:BB:GTMI) announced today the
formation of Bentley Tel.com Inc., a majority-owned subsidiary, which
includes the acquisition of three international telecom/technology
companies.
The acquisition of these three international telecom companies will
comprise the new company which will provide long distance
telecommunications, voice over Internet, e-commerce and ISP services,
technology training as well as sales of continental and international
calling cards.
Global TeleMedia is acquiring the companies through an exchange of
shares and capital. They include:
(COMTEX) B: Global TeleMedia International, Inc. Forms Bentley Tel.co
B: Global TeleMedia International, Inc. Forms Bentley Tel.com Subsidiary
NEWPORT BEACH, CA, Oct 13, 1999 (BUSINESS WIRE) --
October, 13, 1999-
Majority owned Subsidiary to Include Three Telecom Acquisitions
Global TeleMedia International, Inc.(OTC:BB:GTMI) announced today the
formation of Bentley Tel.com Inc., a majority-owned subsidiary, which
includes the acquisition of three international telecom/technology
companies.
The acquisition of these three international telecom companies will
comprise the new company which will provide long distance
telecommunications, voice over Internet, e-commerce and ISP services,
technology training as well as sales of continental and international
calling cards.
Global TeleMedia is acquiring the companies through an exchange of
shares and capital. They include:
Established in 1991, Octa4 is a leading Australian Internet provider,
offering ISP, Virtual ISP, Virtual Private Network (VPN) and VoIP
(voice-over-IP), as well as creating and managing the world renowned
"centreBet Internet Betting Site" which has accounted for over 50% of
the Australian E-commerce transactions in 1998. Octa4 is also one of
the first companies accredited by major Australian Financial
Institutions in providing on-line credit card verification and
transactions from the Internet through the EFTPOS system. Octa4 also
has an active R&D section which has been responsible for the
development of a suite of e-commerce portals such as eTrolley, ePos,
eRadius, eCards, and Sports Betting Management system.
3G communications Inc., established in 1995, is a Philippine-based long
distance telecommunications company which owns and has deployed 26
mobile satellite long distance calling stations and is capable of
handling ATM transactions from rural banks; and DynaSem Communications
SDN BHD, a Malaysian company that trains personnel in VoIP, ISP, secure
data transfer and e-commerce and is part of the BIMP-EAGA E-commerce
super-corridor.
Each of the companies acquired will change their name to Bentley
Tel.com and conduct business in their respective countries under that
name.
The Company said that by the fourth quarter of 1999, Bentley Tel.com
will be in a position to provide voice, data and video services, both
conventionally and via the Internet, to the BIMP-EAGA countries with a
population of over 400 million people.
Jonathon Bentley-Stevens, President, BHFC, said, "We have spent
considerable time in investigating these new technologies and as they
are integrated, Bentley Tel.com will have the necessary concentrated
hardware, software and resources for further development of ISP, VoIP
and e-commerce within the USA and BIMP-EAGA marketplace."
He added, "we will also transfer the UltraPulse and CyberAir technology
agreements, currently held by GTMI, into the subsidiary to better
facilitate the commercialization of these technologies. Additionally,
we will continue to search for innovative technologies to complement
those that make up our new company. We will further evaluate various
strategic alternatives regarding the subsidiary in order to ensure the
maximization of its shareholder value. It is our intention to make
Bentley Tel.com a household name, internationally."
Global TeleMedia International, Inc., acquired Bentley House Furniture
Company, Inc. (BHFC) in a share exchange in May 1999. BHFC currently
operates as a wholly owned subsidiary of Global.
Global TeleMedia International, Inc., now located in Newport Beach,
California, is leading the development of high speed wireless
communication systems, including Voice over IP international & long
distance, LAN VPN (Virtual Private Network), ISP, Virtual ISP, and
PC-PC, PC-Phone transmission of data and voice. Its wholly owned
subsidiary BHFC is to build one million government employee houses and
to be the exclusive provider of long distance telephone, cable TV and
Internet services to these houses, as well as a major integrated
provider of lumber, housing and furniture in the Philippines and
surrounding areas. The Company has a contract, which is guaranteed by
the National Housing Authority of the Philippine Government.
This press release contains forward-looking statements. All such
statements involve risks and uncertainties, including, without
limitation, the risks detailed in Global TeleMedia's filings and
reports with the Securities and Exchange Commission. Such statements
are only predictions and actual events or results may differ
materially.
This release and prior releases are available on the KCSA Public
Relations Worldwide website at www.kcsa.com.
Copyright (C) 1999 Business Wire. All rights reserved.
Distributed via COMTEX.
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CONTACT: Global TeleMedia International, Inc.
Jonathon Bentley-Stevens |
