News out on GTMI
(COMTEX) B: Global Telemedia International Agrees to Serve as Interna
B: Global Telemedia International Agrees to Serve as International Marketing
Arm for Global Telecommunications Traffic
ATLANTA (Nov. 9) BUSINESS WIRE -Nov. 9, 1998--
First Phase to Generate $5 Million in Monthly Billings
Global Telemedia International Inc. (OTC Bulletin Board: GTMI - news;
"GTMI") announced today that it has entered into a formal agreement to
serve as the international marketing arm for CyberAir Communications
Inc., of Los Angeles, Calif. ("CyberAir").
The first phase of the agreement, which will begin Nov. 15, 1998, calls
for GTMI to sell a minimum of 25 million minutes per month of CyberAir
traffic between the U.S. and Mexico. The initial contract will generate
$5 million in gross monthly billings for GTMI.
CyberAir is building an international telecommunications network,
initially deploying equipment in China, Pakistan, India and Mexico.
GTMI will act as CyberAir's primary marketing arm for international
telecommunications traffic.
Roderick A. McClain, GTMI president and chairman stated: "During the
past six months, GTMI has developed and retained a significant number
of carrier relationships which are seeking additional capacity to
Mexico. Our strategic alliance with CyberAir gives us the ability to
immediately fill this backlog under our initial contract. We presently
have commitments for the entire initial block of CyberAir traffic and
are negotiating additional contracts in other countries serviced by
CyberAir. We expect to execute those contracts in the very near
future."
Facilities management and operational support for this contract will be
provided by a third-party carrier. This will allow GTMI to concentrate
on the company's real strength, which is marketing.
GTMI is a full-service communications and information processing
company focusing on international communications networking in emerging
countries. Additionally, GTMI is developing its own proprietary
technology to complement these efforts.
The statements contained in this release may contain forward-looking
statements relating to such matters as anticipated financial
performance, business prospects, technological developments, new
products, research and development activities and similar matters. The
Private Securities Reform Act of 1995 provides a safe harbor for
forward-looking statements. In order to comply with the terms of the
safe harbor, the Company notes that a variety of factors could cause
the Company's actual results to differ materially from the anticipated
results or other expenditures expressed in the Company's
forward-looking statements. These risks and uncertainties are detailed
in the Company's Form 10K for the period ended December 31, 1997, and
are incorporated herewith by reference.
-0- jd/ny*
CONTACT: Mark Wachs and Associates
Mark Wachs, 212/832-2800
(212) 832.2800
KEYWORD: GEORGIA
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