Cheap China Play---GTTIF Message Board

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Strategies & Market Trends : Cheap China Play---GTTIF

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To: DOUGLAS C. SMITH who wrote (12)	1/18/1997 11:27:00 PM
From: Albert Shilin	of 42

Grandetel Technologies Inc. Settles Lawsuit TORONTO, Jan. 17 /CNW/ - GrandeTel Technologies Inc. (NASDAQ: GTTIF) today announced that it has settled the lawsuit which it brought against a number of stockbrokers and other parties in connection with shares that were inappropriately issued and sold pursuant to stock options granted by the Company's previous management. The Company will receive $1,245,000 as full settlement of its claims. It is anticipated that the funds will be received by the end of January, 1997 once minutes of settlement have been signed. GrandeTel is a Canadian company with its North American headquarters in Toronto, Ontario and its Asian headquarters in Hong Kong. The Company holds interest in joint ventures that manufacture telecommunications products and provide paging and cellular telephone services in the PRC. The Company's common shares and debentures trade on the NASDAQ service.

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