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News with Indian ISP,
Startec Invests in Indian ISP to Launch Internet Access in Delhi
PR Newswire - January 04, 2000 11:00
* Key Move Leverages Ethnic Marketing Expertise and IP Network
* Investment Advances Presence in Indian Internet Market
* Indian Internet Market Expected to Reach 4.5 Million Users By 2002
* Indian e-Commerce Market Expected to Reach $500 Million By 2002
BETHESDA, Md., Jan. 4 /PRNewswire/ -- Startec Global Communications Corporation (Nasdaq: STGC), a leading provider of communications services to ethnic communities worldwide, announced that it has signed an agreement to acquire up to a 49% fully-diluted ownership interest in Dialnet Communications Ltd., an ISP in Delhi, India. Dialnet provides voice and Internet access to residential and business customers in Delhi and has a license application pending to extend Internet service to cities nationwide.
"We are extremely eager to get into the Indian Internet market and into key Internet markets in the emerging economies," said Ram Mukunda, chief executive officer of Startec. "India's cities are densely populated with highly educated, tech savvy individuals who are looking for high speed Internet connectivity. We plan to establish Startec as a leading Internet provider in India by expanding services across the country to include the cities of Bangalore, Hyderabad, Bombay and Madras in the first half of 2000. We plan to leverage our online brand, eStart, to create an Indian virtual community in the first quarter of 2000 and are aggressively looking for partnerships with local content partners. We will be able to offer Indian consumers a powerful combination of Internet access and a premier online destination that is tailored to provide local Indian news, information, entertainment and features."
The Indian Internet market is currently underdeveloped but is expected to grow rapidly. The number of Internet users in India is projected to reach 4.5 million in 2002 with revenue from e-commerce generated in India predicted to grow to over half a billion by 2002. The growth is being driven by increased PC penetration, deployment of alternative Internet access devices, development of a more robust Internet infrastructure, the addition of greater bandwidth capabilities and continued deregulation of the communications industry.
Startec has provided long distance services for Indians living in the United States for over 10 years and will leverage its ethnic marketing expertise, customer knowledge and international network of agents, content providers and media partners to build a global customer base for its Internet services. To complement its voice and Internet services, Startec is designing a single online destination for ethnic Internet users through the launch of a series of ethnic virtual communities, under the online brand of eStart. The Arab and Iranian virtual communities were introduced in the fall of 1999 and the Indian community is scheduled to be launched in the first quarter of 2000.
Additionally, the Company is adding technical support staff to its three customer call centers located in the U.S., Asia and Europe to provide reliable Internet support for all of its Internet customers. Startec has always provided in-language customer support for its long distance customers.
About Startec:
Startec Global Communications Corporation is a facilities-based provider of communications services to ethnic communities. Startec is building a state-of-the-art network, equipped with Internet Protocol technology to provide seamless connectivity to the emerging economies of the world, allowing it to integrate voice, data, Internet, and video services on a single network. Once completed, Startec's network will provide connectivity from points originating in the U.S., Canada and Europe and terminating in the emerging economies on an IP/ATM network. The Company's class of common stock is traded on The Nasdaq National Market under the symbol "STGC."
For more information on Startec, visit its Web site at www.startec.com. To view Startec's Arab virtual community, the first in a series of nine ethnic virtual communities, visit www.estart.com.
Other than historical information contained herein, certain statements in this release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1994. Forward-looking statements in this release involve a number of risks and uncertainties including, but not limited to, changes in market conditions, government regulation, technology, the international communications industry, and the global economy, availability of transmission facilities, management of rapid growth, entry into new and developing markets, competition, customer concentration and attrition, and the expansion of the global network. These risk factors are discussed in further detail in Startec's SEC filings.
SOURCE Startec Global Communications Corporation
/CONTACT: Jennifer Boyer of Startec Global Communications Corporation,
301-767-1430 or jboyer@startec.net/
/Web site: estart.com
/Web site: startec.com
(STGC)
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