WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Nov. 14, 1997--
Franklin Telecom (OTC:FTEL) Friday announced that it has completed
a private placement of convertible preferred shares for
$5,000,000 with institutional investors.
Funds will be used for production and deployment of the Tempest,
Franklin's newly developed Data/Voice Gateway and for the roll-
out of the previously announced FNet global network.
The FNet.Phone network, utilizing IP and the Internet, will
connect the Data/Voice Gateways, ensuring quality-of-service and
reliability. FNet, Franklin's Internet subsidiary, will operate the
network.
Franklin recently conducted a hands-on demonstration of the
Tempest on Wall Street for shareholders, media and investment
bankers. Participants were highly enthusiastic about the voice
quality of the calls as well as the ease of usage.
Shortly thereafter, the Tempest was again demonstrated, this time
at CT Demo in Orlando, Fla., a by-invitation-only show sponsored
by "Computer Telephony" magazine. Once again, the Tempest was an
enormous hit.
Franklin's president and CEO Frank Peters said, "The Tempest is
creating unprecedented opportunities for our company. It is
enormously gratifying that we have the capital in hand to proceed,
full-speed ahead with the production and installation of the units
we need to bring our new network to life!"
The Franklin Tempest Data/Voice Gateway allows phone-to-phone
service over the Internet or Frame Relay using ordinary telephones
(no computer required), and without requiring any special hardware or
software at either connection. The Tempest facilitates
long-distance telephone calls at greatly reduced cost compared with
conventional telephone service providers. The installed network
will be utilized by existing clients as well as FNet customers.
The primary business of Franklin Telecom, founded in 1981, is the
design and manufacturing of communications devices, high speed LAN,
WAN, Telco & Satellite Systems and software. Franklin has an
installed base of more than 100,000 modes worldwide. Franklin's
Internet subsidiaries, FNet and Internet Passport provide services
using FTEL products.
For the latest up-to-minute information, visit the Franklin
Telecom Web site: ftel.com
--30--MEM/la* EW/la
CONTACT: Franklin Telecom, Westlake Village
Helen West, 805/373-8688
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED
INTERACTIVE/MULTIMEDIA/INTERNET TELECOMMUNICATIONS TRADESHOW
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