News out.....We now have faxing thru GTCNetlink !!
I'll see if I can post it.
Company News
December 1, 1998 9:24 AM EST
Headlines
12/01 08:17 ADGI's Internet Affiliate Announces Initiation of its Faxing
Services <ADGI.OB>
ADGI's Internet Affiliate Announces Initiation of its Faxing Services for GTCNetLink
HICKORY, N.C.--(BUSINESS WIRE)--Dec. 1, 1998--American Diversified Group (Nasdaq BB:ADGI) announced Tuesday that its Internet telephony affiliate, Global Transmedia Communications Corp. ("GTCC"), Aventura, Fla. has added faxing capabilities to its existing GTCNetLink Internet telephony calling services.
GTCNetLink is a private subscriber based calling network. As ADGI has stated, the addition of faxing to its affiliate's calling capabilities will add a new dimension to the scope of its services, permitting it to match standard services offered by telephone companies at dramatically lower rates, thereby creating a new revenue source. ADGI projects that, based on industry standards, fax services should have an immediate and significant impact on current operating as it offers the opportunity to substantially increase revenues and profits under its existing and future revenue agreements.
Independent experts estimate that faxes account for 30% of domestic long distance charges and up to 50% of all international charges. A Gallop/Pitney Bowes survey estimates that the average Fortune 500 company spends $15-20 million annually for telecommunications of which 36% ($5.4 - 7.2 million) is for fax and 55% of fax traffic is sent to branch offices. Analysts at the investment banking firm of Raymond James & Associates have previously reported international faxing now is a $36 billion market and it believes businesses might save 90% on international faxing using Internet based services.
ADGI believes that this type of business directed expanded service will also attract more multinational telecommunication service providers into the GTCNetLink network. ADGI's affiliate feels forming these types of new relationships will produce immediate financial benefits by having overall services offered to a much larger market.
For further information, ADGI's Broadcast Fax System provides ADGI information (releases, news letters, shareholder updates) and is accessible to all ADGI shareholders via fax. ADGI has a Web Page at www.adgrpinc.com and E-Mail address adgiabts.net.
Except for the historical information herein, the matters discussed in this press release include forward-looking statements that may involve a number of risks and uncertainties. Actual results may vary based upon a number of factors, including, but not limited to, risks in product and technology development, market acceptance of new products and continuing demand, the impact of competitive products and pricing, changing economic conditions and other risk factors contained in the company's most recent annual report and other filings with the Securities and Exchange Commission.
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