NEWS RELEASE - Purchase Order received:
TERAGLOBAL COMMUNICATIONS CORP. (“TGCC”) ANNOUNCES INITIAL TERACOM PURCHASE ORDER AND HAS SPUN OFF WATERLOGtm DIVISION.
January 11, 1999
NASD-BB “TGCC”
TGCC announces Purchase Order
San Diego, California. After successful demonstrations of coast to coast digital video and media streaming to early adopter clients, TeraGlobal Communications Corp is pleased to announce that one of its early adopters has issued a purchase order for TeraCom development stations, providing a headstart on content creation and early deployment. This is the final step in the early adopter's evaluation for the TeraCom product, and the first step towards TeraCom's introduction throughout the early adopter's organizations. The development stations are expected to ship in January 1999.
TGCC spins off Waterlog(tm) Division
In an unrelated transaction, TeraGlobal's wholly-owned subsidiary TGCC Acquisition, Inc. (formerly Design Analysis Associates, Inc.) has sold the assets associated with its Waterlogtm Division, including rights to the name Design Analysis Associates, Inc., to William Fletcher pursuant to an agreement dated December 21, 1998. Mr. Fletcher was the owner of Design Analysis Associates, Inc. of Logan Utah which merged into TGCC Acquisition, Inc. on October 30, 1998. As a result of the merger and subsequent spin off of assets, TeraGlobal has acquired the design engineering business previously conducted by Design Analysis, including four engineers, intellectual property, equipment, contract rights and cash in exchange for 250,000 shares of common stock. The design engineering division had performed services for TeraGlobal prior to the merger, as well as services for other engineering clientele previously associated with Design analysis such as Digital Equipment Corporation, IBM, Siemens, and L-3 Communications.
TERAGLOBALtm COMMUNICATIONS CORP. is a communications technology company with existing products and products under development to fulfill wide market needs. The company is currently introducing a group of communications technology products and services that include the hardware, software, connectivity, network, and advanced compression technology necessary to deliver real time, point-to-multi-point interactive multimedia communications solutions. The products have been described as revolutionary in their ability to transform the telemedicine, distance training, distance education, and corporate and organizational communications landscape.
For further information contact:
Darren Seed Telephone: 604.806.0200 E-Mail dseed@teraglobal.com
Facsimile: 604.806.0201
Susan Wilson Telephone: 619.231.0555 x118
Facsimile: 619.232-9454 E-Mail swilson@teraglobal.com
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