ACEN here's your news Harry. I think this is Swift here: swifttelecom.com
SARASOTA, Fla.--(BUSINESS WIRE)--Dec. 14, 2000--American
Communications Enterprises, Inc. (OTCBB:ACEN) today announced that it
has finalized a Note Purchase Agreement with Swift Telecommunications,
Inc. ("Swift"), which provides for the eventual acquisition of Swift
by ACEN. The Note Purchase Agreement will be included in ACEN's 8-K to
be filed with the Securities and Exchange Commission (SEC).
Swift Telecommunications, Inc. is a Data, Outsource and Facility
Management Company headquartered in Long Island, New York with sales
offices and switching facilities in New York and in 46 countries
overseas. With the steady decline in the telex and fax business, most
Administrations and Carriers continue to pay large overhead costs in
running their fax and telex switch and telex network. Swift
Telecommunications was formed to acquire, outsource and/or perform
facilities management for the telex, fax and data business of PTTs and
other carriers around the world.
Swift Telecommunications has already completed acquisitions of:
-- Telemedia Networks, Inc. ("TMI"), a former division of Telecom
Italia
-- GN Comtext Network in the United Kingdom now Swift Comtext Ltd.
George Abi Zeid, Chairman and Chief Executive Officer of Swift
Telecommunications, stated that, "With the signing of this Agreement,
Swift Telecommunications can now begin the process of integrating
these acquisitions and utilizing the strengths and assets of each
entity to expand and improve an already large worldwide network. Abi
Zeid will become American Communications Enterprises, Inc.'s Chairman
of the Board and Chief Executive Officer.
ACEN officials indicated that "they were extremely pleased with
the execution of the business model to date, and that they continue to
work diligently to complete significant transactions to the benefit of
the Company, shareholders and investors."
Please contact Steve Wagoner at 941/923-1949 for a free investor
package.
Certain statements included in this press release are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Actual results could differ
materially from such statements expressed or implied herein. Factors
that might cause such a difference include, among others, competitive
pressures, the company's ability to successfully implement traffic,
constantly changing technology, associated with recently formed
entities. As a result, this press release should be read in
conjunction with the Company's periodic filings with the SEC.
--30--gaa/mi*
CONTACT: American Communications Enterprises Inc., Sarasota
Steve Wagoner, 941/923-1949
KEYWORD: FLORIDA
INDUSTRY KEYWORD: TELECOMMUNICATIONS MERGERS/ACQ
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