NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Dec. 22, 1999--Global TeleMedia International, Inc. (OTC: BB: GTMI) announced today that growth from its BentleyTel.com Australian subsidiary, should continue strong in the quarter to end December 31, 1999.
The Company said that revenues from the Australian operations (formerly Octa4) for the quarter ended December 31, 1999, are expected to exceed US$430,000, up over 92 percent from the same quarter in 1998. Octa4 was acquired in November 1999, and has shown increases in revenues over the last three years of over 100 percent per year.
Jonathon Bentley-Stevens, President of GTMI, said that the Company expected growth for BentleyTel.com Australia to continue in 2000 when the Company completes its nationwide Voice Enabling (VoIP) and is linked to other BentleyTels in The Philippines and Malaysia, which have also shown rapid growth over the past three years.
Mr. Bentley-Stevens said the Company was meeting with similar VoIP enabled companies in Europe and the United States seeking other strategic alliances. He said, ``We have met with other telecom and technology companies with similar interest who wish to reach the Australian-Asian e-commerce and telecom markets in which our BentleyTel has a presence.'
Mr. Bentley added, ``We believe the e-commerce opportunities are the main focus of our revenue source. In 1998, Octa4, now BentleyTel Australia, represented 50 percent of Australia's e-commerce and we are building on that. Our marketing focus is on the captive BIMP-EAGA markets where the AFTA (Asia Free Trade Agreement) is still in its infancy.'
``It is clear, with the reduction of telecom prices across America, our target is the international calling countries where we have a point of presence. We will strive to bring e-commerce to those areas as well as expand our local long distance units in The Philippines where we already have deployed 26 walk-in, air conditioned calling stations.'
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 Web site at www.kcsa.com.
Note: (Correction: In a November 22, 1999 press release, it was stated ``BentleyTel.com's patented UltraPulse technology', correction should read ``UCI's patented technology'.) |
