This has huge potential folks
MegaWorld Expands Its Internet Operations
Business Wire - October 08, 1998 08:15
NEW YORK--(BUSINESS WIRE)--Oct. 8, 1998--MegaWorld Inc. (OTC:MEGW), announced today the signing of a Joint Venture Agreement between its subsidiary ITS Telephony Inc., and Atlantic Mutual Holdings Inc.
Atlantic Mutual Holdings Inc. is a consultant to a government-licensed Internet Provider in Shanghai, China, and is authorized to provide Telephony/Internet Technology to that Provider. Atlantic Mutual Holdings Inc. has offices in Short Hills, N.J. and Hong Kong, with operations that extend throughout the Far East.
The parties of the joint venture agreement project that the ITS Telephony Inc., "Voice Over the Internet" technology will be installed in Shanghai in early 1999. This arrangement would mean that ITS Telephony Inc. technology will be available to place telephone and facsimile calls over the Internet not only from the USA to Shanghai, but also from Shanghai to the USA.
Currently, it is estimated that four hundred million (400,000,000) minutes per month of telephone calls are now being placed just from the USA to China.
Note: Forward looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward looking statements invite risks and uncertainties, including without limitation, continued acceptance of the company's profits increased levels of competition for the company, and other risks.
CONTACT: MegaWorld Inc., New York
David W. Mahy, 212/750-3333
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