Systems Of Excellence Clarifies Previous Release
Regarding World
Communication Group Inc.
CORAL GABLES, Fla., June 11 /PRNewswire/ -- SYSTEMS of Excellence
(Nasdaq BB: SEXI) hereby retracts its May 28th press release in reference to
World Communication Group Inc. (WCG), due to inaccuracies concerning
statements that WCG has ordered 1,000 video teleconferencing units at an
estimated value of $3.4 million with shipments to begin in 60 days. In fact,
SEXI and WCG only have entered into a letter of intent under which WCG may
become the exclusive distributor of SEXI products in the People's Republic of
China, Hong Kong and Taiwan providing that the planned site surveys and
field testing are acceptable and a definitive distribution agreement is
consummated between SEXI and WCG. WCG intends, under the terms of the
Letter of Intent, to complete market surveys, and needs analysis within 90
days.
WCG intends to market and distribute SEXI video teleconferencing products
in China and Hong Kong through its existing sales and maintenance force in
those areas in the event a distribution arrangement is thereafter
consummated between the parties.
SYSTEMS' Executive Vice President, Jerry Thornthwaite, stated, "The
telemedical opportunities in China are enormous and the relationship with
WCG, if consummated, will give SYSTEMS a strong presence in this large
market."
SYSTEMS of Excellence manufactures and markets multi-platform desktop
video teleconferencing products which operate at a full 30 frames per second.
The products deliver television quality video, operating over existing analog
telephone lines in both Local Area Network (LAN) and Wide Area Network
(WAN) environments. SYSTEMS' products are manufactured within the
stringent ISO-9000 and Bell Core standards, allowing a five year warranty
period. |
