Global TeleMedia International, Inc. Subsidiary Completes Acquisition
of Australian ISP OCTA4 Code Media Pty. Ltd.
NEWPORT BEACH, Calif., Nov 22, 1999 (BUSINESS WIRE) --
BentleyTel's formal share exchange in Parliament House Australia
Global TeleMedia International, Inc. (OTC: BB: GTMI) announced today
that its subsidiary, Bentley Tel.com Inc., has completed a merger
agreement with Octa4 Code Media Pty. Ltd, a leading Internet service
provider in the Northern Territory of Australia.
Octa4 has the only national VoIP, VisP and wholesale dial access system
in Australia, with proprietary products such as e-Trolley, e-Pos,
e-Radius, e-Postcard and Virtual Client Management System (VCMS)
billing, authentication, bank transfer, automatic e-mail notification
and customer tracking services and Bulletin Board.
BentleyTel.com, which has private funding, will pay AUD$54 million in
cash and BentleyTel.com stock to acquire Octa4 and its subsidiaries 3G
and DynaSem. The BentleyTel.com group will create an extensive
Australian/BIMP-EAGA (Brunei/Indonesia/Malaysia/Philippines - East Asia
Growth Area) Multi-Media Super Corridor. It brings together Global
TeleMedia in the U.S., Octa4 in Australia, 3G Communications Inc. in
the Philippines and DynaSem Communications SDN BHD in Malaysia, giving
the Global Telemedia International access to 80 million potential ISP
customers plus a significant share of the national and international
long distance calling market. Australians still pay up to 80 cents per
minute coast-to-coast and up to 60 cents per minute off peak. Utilizing
BentleyTel.com's patented UltraPulse technology and the VoIP platform
BentleyTel.com will incur costs less than one cent coast-to-coast and
just a few cents globally.
Octa4 Managing Director, former Australian University Lecturer in
Physics, Felino Molina and a group representing the majority
shareholders of Octa4 together with two members of the Australian
Government Department of Asian Trade and Relations and BentleyTel
directors visited the former Honeywell test facility in Washington DC
on the 25th of October 1999 and viewed a full live demonstration of the
UltraPulse technology. On the 27th of October the acquisition of the
Octa4 Pty. Ltd, (Australia) 3G Communications Inc. (Philippines) and
DynaSem Communications Sdn. Bhd. (Malaysia) was executed in the Newport
Beach offices of GTMI.
According to Jonathon Bentley-Stevens, President and CEO of Global
Telemedia, "UltraPulse inventor Dr. Terrence Barrett, as well as being
a guest at the ceremony in Australia, will assist in the deployment
plans. BentleyTel expects to provide voice, data and video services,
both conventionally and through the Internet, to Australia and the
BIMP-EAGA nations by year end. Octa4 will now have access to both
patented Ultra Pulse Broad Band Spread Spectrum technology and CyberAir
Photonic wireless technologies, allowing Australians and BIMP-EAGA
nations access to cheap interstate and overseas phone calls and
sophisticated e-commerce facilities at speeds of up to 200Mbs on
Wireless Local Loop and wireless LAN."
BentleyTel expects to deploy the UltraPulse wireless technology in
first quarter 2000, initially in the Philippines where the company
already has 26 portable calling stations which could immediately become
the worlds first UltraPulse wireless LAN system, and later in the new
BentleyTel national network in Australia.
The Honorable Daryl Manzie, MLA, Minister for Relations and Trade for
Australia's Northern Territory Government, said, "Information
technology and communications are the most dynamic and fastest growing
sectors of the world economy, and it's encouraging to know that local
companies like Octa4 are maximizing their opportunities to service this
ever growing market." He added, "The transfer of wireless technology
from the U.S. means that Darwin is at the cutting edge of this
technology and will set the pace for wireless communications in
Australia."
Octa4's Managing Director, Folino Molina, said that "In September 1999,
Octa4 was named as a member of the Cable and Wireless-Optus consortium
which was successful in its AUD$110 million bid for Northern Territory
Government Internet outsourcing. Octa4 will be responsible for IP
services for the whole of the Northern Territory Government." Mr.
Molina added, "Octa4 is now realizing the fruits of its strategic
growth plans."
3G Communications Inc. is a Philippines-based long distance
telecommunications company which owns and has deployed the first 26 out
of a projected 100 mobile satellite long distance calling stations and
is capable of handling ATM transactions from rural banks. DynaSem
communications SDN BHD, trains personnel in VoIP, ISP, secure data
transfer and e-commerce. Over the last 3 years each of the "new
BentleyTel's" has average revenue growth of at least 100% per annum.
Following the share exchange ceremony Octa4, 3G and DynaSem will all
change their names to BentleyTel.com in their respective countries.
Global TeleMedia International, Inc., through its subsidiary, Bentley
Tel.com Inc., 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, with operations in the
U.S., Australia and BIMP-EAGA nations. Its wholly owned subsidiary
Bentley House Furniture Company, Inc. 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. |
