INVT: Investamerica Inc. -- Optica Communications Group Inc. -- Announces $30 Million Supply Agreement...
PARK CITY, Utah--(BUSINESS WIRE)--Jan. 6, 2000--InvestAmerica
Inc. (Optica Communications Group Inc.) (OTC BB:INVT) Thursday
announced that it has signed a 12-month, $30 million supply agreement
with an international long distance company to provide a combination
of bandwidth and dark fiber throughout North America.
The agreement also gives the customer an option to take up to an
additional $50 million of bandwidth and dark fiber over a further
three-year period.
Brian Kitts, director of InvestAmerica Inc. (Optica
Communications Group Inc.) stated, "We are very pleased to have
achieved this first milestone in the development of the North American
portion of our Global Fiber Optic Network and with the enhancement in
value that this provides to our shareholders.
"This contract gives us an anchor tenant and we expect to have
additional customer commitments in place by June, which will
facilitate financing the network. We expect to offer service on the
network by the end of 2000, with initial expansion to Europe and Asia,
including China, planned for late 2001."
InvestAmerica Inc. (Optica Communications Group Inc.) is an
international communications company that is designing and developing
a Global Fiber Optic Network.
Statements about the company's future expectations and all other
statements in this press release other than historical facts are
"forward-looking statements" within the meaning of Section 27A of the
Securities Act of 1933, Section 21E, of the Securities Exchange Act of
1934, and as the term is defined in the Private Litigation Reform Act
of 1995.
The company intends that such "forward-looking statements" be
subject to the safe harbors created thereby. Since these statements
involve certain risks and uncertainties and are subject to change at
any time, the company's actual results may differ materially from
expected results.
--30--lma/ix*
CONTACT: InvestAmerica Inc., Park City
Brian Kitts, 801/808-6096
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