OK, here it is. The prnewswire has something screwy this am. I
also got a bogus date at the home page.
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Monday August 5 9:02 AM EDT
Dci Telecommunications' Strategic Ally Goes National by
Signing Definitive Agreement with Gridnet International,
A Division of Ldds
FAIRFIELD, Conn., Aug. 5 /PRNewswire/ -- DCI Telecommunications, Inc. (OTC BULLETIN
BOARD: DCIC) of Fairfield, Connecticut announced today that FNet, a wholly owned subsidiary of Franklin Telecommunications Corp., (OTC BULLETIN BOARD: FTEL) with whom DCI has a strategic alliance, has signed a definitive agreement with GridNet International, Rosewell, Georgia. The agreement will allow FNet's subscribers access to FNet's Internet Services via GridNet's 157 Point of Presence sites (shared local access in over 60 U.S. LATAs) located throughout the United
States. This agreement allows FNet subscribers to connect to the Internet via local phone access at extremely high speeds and at lower rates than the competition.
GridNet International is a division of LDDS WorldCom, the fourth largest long-distance carrier in the U.S. By utilizing the GridNet Internet backbone which can be accessed by more than 80% of
the U.S. population, FNet will offer to businesses and individuals throughout the U.S., multiple options including dedicated Frame Relay and Asynchronous Transfer Mode (ATM) connections. These services allow for very high speed sending and receiving of information over the Internet at low cost.
This agreement sets the stage for FNet's proprietary voice server which is currently under development. The voice server technology will enable subscribers to communicate directly from phone to phone over the Internet with total clarity, bypassing long distance phone charges and without the use of a personal computer.
According to Franklin's President and CEO Frank Peters, "The use of GridNet's nationwide Internet presence will allow us to take the integration of our channel bank technology and voice applications
national. We believe our latest product offering (to be called F-Link) will be widely accepted in this market segment and will reduce the cost for many corporations for international Internet Phone
(available Fall 1996). We intend to provide solutions that will dramatically reduce the cost of corporate communications for dial-up, Frame Relay and ATM connections."
Peters went on to say, "This partnership is one part of FNet's business plan which focuses on making FNet the most profitable Internet Advanced Solution Provider in the world. The system will
go on-line for testing this week and our target for nationwide availability is August 9, 1996." (THAT OUGHT TO GET THEIR ATTN)
FNet is a provider of a comprehensive range of Internet access options, applications and consulting services to businesses, professional and on-line service providers. FNet provides dedicated and low cost dial-up Internet access, web server hosting and soon to be included voice telephone calls over the Internet free of long-distance charges.
FNet will become a joint venture between Franklin Telecommunications Corporation and DCI Telecommunications, with each of the companies owning 40% of FNet. The remaining 20% will be owned by RANA Investment Company of Saudi Arabia who is supplying $10 million bridge financing prior to a planned Initial Public Offering (IPO). As outlined in the FNet business plan, a significant portion of the bridge financing will be used for a nationwide sales and marketing effort in addition to software and hardware development. Franklin and DCI will also assume a 15% "stake out" position in each other's companies by exchanging shares of stock.
FNet will continue to seek strategic alliances and intelligent acquisitions, enhancing its ability to fulfill the intent of becoming the leading provider of Internet related services to both the business
community and consumers. SOURCE DCI Telecommunications, Inc.
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GO FTEL/DCIC! |
