New York, New York, Jun. 19, 2000 (Market News Publishing via COMTEX) -- Nova
Communications Ltd. announced that it has entered into a letter of intent to
acquire 80% of Communications 2000 in an agreement in which Nova will acquire
80% of the outstanding shares of common stock of Communications 2000.
 
Revenues for Communications 2000 for the previous year were approximately
$2,000,000.
 
Murray Goldenberg, chief executive officer of Nova, commented, "We are very
excited about this acquisition. Communications 2000 is a premiere supplier of
business communication systems in the Southern California market and is well
positioned to benefit from the accelerating growth in the telecommunications
industry. It marks the first step of a multi-phase plan to acquire and develop
other business communication companies in our national expansion directive."
 
Ken Owen, president and sole owner of Communications 2000 added, "I am looking
forward to utilizing the resources of Nova to assist in the implementation of
our business plan. We believe that with Nova's help and the new supplier base
which we have been procuring that we will be able to accelerate our expansion
plans."
 
About Nova Communications Nova is a business incubator that invests in, develops
and manages emerging growth companies. Formerly structured as a Business
Development Company (BDC), and reporting under the Investment Company Act of
1940, Nova has made the transition to a fully reporting holding company. It is
Nova's strategy to pursue acquisition opportunities in the telecommunications
and business communications industries. Nova will continue to support its
investments in And Justice For All and the real estate developments in Biloxi,
Miss., while pursuing its ongoing efforts to develop the communications
business.
 
About Communications 2000 Communications 2000 Inc. has headquarters in Torrance,
Calif. and operates under the trade name Telephone Equipment Company (TEC
Networks). The company has been in the business of sales, installation and
service of a broad range of business communications solutions. TEC, formerly an
AT&T Platinum voice equipment provider, known for providing quality voice and
data applications, uses the highest quality products available to solve its
customers' communication needs. TEC offers a complete package of consulting,
engineering, sales and installation services as solutions. TEC has recently
moved into a new state of the art office and warehouse facility which has been
designed to accommodate the internal growth and national expansion.
 
This news release contains forward-looking statements, including statements
regarding the company's business strategies and business. These forward-looking
statements are based primarily on the company's expectations and are subject to
a number of risks and uncertainties, some of which are beyond the company's
control. Actual results could differ materially from the forward-looking
statements as a result of numerous factors, including those set forth in the
company's filings with the Securities and Exchange Commission.
 
 
 
 
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TEL:  800/869-0912   Murray Goldenberg,
 TEL:  800/869-0912   Murray Goldenberg
             Nova Communications Ltd. / Telephone Equipment Company
 E-MAIL:  investorrelations@telequipco.com
 WEBSITE:  www.TEC-Networks.com