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Tuesday September 1, 12:31 pm Eastern Time
Company Press Release
American Diversified Group Announces Internet Telephone Service Upgrade and Sales Begin Ahead of Schedule
HICORY, N.C.--(BUSINESS WIRE)--Sept. 1, 1998--American Diversified Group (ADGI) (NASDAQ BB:ADGI - news) announced Tuesday that its Internet telephony affiliate, GTCC has obtained the software upgrade ahead of schedule.
The software upgrade developed by Innomedia Inc. was received by GTCC 60 days ahead of schedule. With this latest upgrade, InfoTalk users can eliminate the need to pay for the first minute and thereby eliminate all long distance calling charges to other InfoTalk locations.
GTCC and its InfoTalk sales joint venture partner, Interworld Computer Technology, together have already sold over 120 InfoTalk units which are operating in the United States, Canada, Latin America, Israel, Lebanon and the Far East.
The sales strategy for InfoTalk has been specifically aimed at the international long distance market. This market exceeds $40 billion in revenues today. Many telecommunication experts and industry analysts have projected that at least $2 billion of that market will be captured by Internet calling services by the year 2002 up from less than $100 million in 1997. GTCC feels that it is well positioned to be an active competitive provider of services in this market. The company projects to garner a significant portion of the Internet telephony services in its marketplace between now and the year 2002.
GTCC and ADGI believe that it is now able to offer its telecommunication service throughout the Middle East and Far East where long distance calling rates are significantly higher. GTCC has preliminary contacts with interested parties to discuss joint venture opportunities in their respective countries in these areas.
For further information, ADGI's Broadcast Fax System provides ADGI information (releases, newsletters, shareholder updates) and is accessible to all ADGI shareholders via fax. To become part of ADGI's Broadcast System, please contact ADGI's Investor Relations Office at 212/332-5009 or by fax at 212/332-3249. Global Transmedia Communications Corp. may be reached at 305/620-2577.
Contact:
American Diversified Group Inc., New York
Investor Relations, 212/332-5009
More Quotes and News:American Diversified Group Inc (OTC BB:ADGI - news)Related News Categories: biotech, computers, internet, medical/pharmaceutical, telecom
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