AmeriResource to Launch New Business Units Providing High-Speed Internet Solutions for the Hospitality Industry
LAS VEGAS, May 13, 2003 /PRNewswire-FirstCall via COMTEX/ -- AmeriResource
Technologies Inc. (OTC Bulletin Board: ARES) and Montel Technologies Corporation
announced their signing of a Letter of Intent to create two new corporations
that will provide high-speed internet solutions to major hotel chains. The
agreement is subject to the final approval of each company's Board of Directors.
Mr. Janovec, President of AmeriResource Technologies stated, "Business
travelers, as well as non-business travelers, increasingly think of high-speed
Internet connectivity in their hotel rooms as a necessity rather than a
convenience. There are thousands of hotels that need to add this service in
order to accommodate the expectations of their guests."
According to a consumer survey by Forrester Research (October 2002), more than
four in ten business travelers want broadband Internet access in their rooms.
"Montel Technologies Corporation, under the direction of founder and President,
Ray Montelongo, has developed a package of high-speed services that goes far
beyond standard DSL or ISDN or cable modem technologies, at a cost which is very
attractive to hotels. In addition, without the need to rewire the hundreds of
rooms per hotel, the implementation timelines for adding these high-speed
capabilities are very short," continued Mr. Janovec.
Mr. Montelongo stated, "We are pleased to be joining with AmeriResource
Technologies in the new venture. As a result of launching the new business
units, we'll be able to provide high-speed Internet access to more hotels
through a managed business expansion. We feel that this is a good relationship
for everyone, and positions us to better serve an expanding customer base within
the Hospitality Industry across the nation."
About AmeriResource Technologies Inc. ("AmeriResource"): AmeriResource is a
publicly trading company (OTC Bulletin Board: ARES) that operates two wholly
owned subsidiaries: Jim Butler Performance (JBP) and West Texas Real Estate and
Resources, Inc. (WTRER). JBP is in the business of manufacturing and selling
high-performance specialty engines and parts for the automobile racing industry.
For more information, see www.jbp-pontiac.com . WTRER holds oil, gas, and
mineral leases on land in Pecos County, Texas. AmeriResource is currently in
discussions with qualified merger-acquisition candidates in the areas of
Homeland Security, Energy, and Travel & Entertainment, as well as special
projects in other areas of interest. For more information, see
www.ameriresourcetechnologies.com
About Montel Technologies Corporation ("Montel Technologies"): Montel
Technologies is a provider of Information Technologies (IT) primarily for the
hospitality industry. Montel Technologies uses proven technologies that combine
voice, video, data, and security on high-speed networks. Clients include Hilton,
Marriott, and Intercontinental Hotels. Montel Technologies employs the
best-available technologies to provide low-cost solutions that include in-room
high-speed Internet connections with configuration-free plug-and-play access,
secure centralized printing, and 24/7 professional technical support. Montel
Technologies has a core staff of highly skilled certified engineers and
professional project planners. Their services include network design and
implementation, detailed IT documentation, remote network administration,
network usage statistical reporting, and 24/7 technical support. In addition to
serving the hotel/hospitality industry, Montel Technologies also delivers
cost-effective high-speed wired and wireless networks to airports, shopping
malls, convention centers, apartments, timeshares, and restaurants. Montel
Technologies is certified as a Small Disadvantaged Business (SDB) under U.S.
Small Business Administration (SBA) guidelines. For more information, see
www.montel-technologies.com
The information contained in this press release includes forward-looking
statements. Forward-looking statements usually contain the words "estimate,"
"anticipate," "believe," "expect," or similar expressions that involve risks and
uncertainties. These risks and uncertainties include the Company's uncertain
profitability, need for significant capital, uncertainty concerning market
acceptance of its products, competition, limited service and manufacturing
facilities, dependence on technological developments and protection of its
intellectual property. The Company's actual results could differ materially from
those discussed herein. Factors that could cause or contribute to such
differences are discussed more fully in the "Risk Factors," "Management's
Discussion and Analysis or Plan of Operation" and other sections of the
Company's Form 10-KSB and other publicly available information regarding the
Company on file with the Securities and Exchange Commission. The Company will
provide you with copies of this information upon request.
SOURCE AmeriResource Technologies Inc.
CONTACT: Delmar Janovec of AmeriResource Technologies Inc.,
+1-702-214-4249, ARESCEO1@cs.com ; or Ron Garner of Equitilink, LLC,
+1-877-788-1940, ron@equitilinkpr.com , for AmeriResource Technologies Inc.
URL: jbp-pontiac.com
montel-technologies.com
ameriresourcetechnologies.com
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