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NEWS!!!!!! 01Mar '99.......
( BW)(CA-GROUP-V)(GRPV) Group V Subsidiary Forecasts Additional One
Million Dollars in Gross Monthly Sales by Fourth Quarter
Business Editors/High Tech Writers
SAN FRANCISCO--(BUSINESS WIRE)--Mar. 1, 1999--
Company Sponsored Sales Force to Hit
the Street with New Country Specific Phone Cards
Group V subsidiary, Academy Network Services, Inc. (ANS) announced
the establishment of a company sponsored distributorship program
anticipated to book approximately $1.0 Million in gross monthly sales by
June 1999.
According to Joseph Monterosso, Chairman and Chief Executive Officer
for Group V Corporation, the Company recently finalized an innovative
training and incentive program designed exclusively to support ANS's
product representatives and distributors. Within 60 days the Company
anticipates that key product representatives will be distributing the
Company's new highly competitive country specific pre-paid phone cards
in several key California markets.
Monterosso stated, "I believe that by the Company directly
supporting a group of serious individuals in the direct sales of ANS's
phone cards, we will be able to pay commissions well in excess of the
market standard to both retailers and representatives, and maintain
strong margins for the company." Monterosso added that business
development plans call for 40 additional representatives to be added to
the sales force by the end of July. "We expect to grow to one hundred
representatives in select markets by the end of the year, and I expect
that once fully operational, gross sales of this program will run
approximately 20 million dollars per year."
Monterosso indicated that recently announced telecommunications
alliances would support Academy's efforts to target developing markets
with competitive rates and innovative pre-paid products. The Company
indicated that the new country specific pre-paid phone cards to be
released within the next 60 days are a direct result of these
transactions. All ANS phone card products will be available to
independent representatives nationwide for direct wholesale purchase
through the ANS web site.
Academy Network Services, Inc. is a wholly owned subsidiary of Group
V Corporation (GRPV) specializing in niche telecommunication products
and services. As a long distance carrier, Academy has the ability to
support various configurations of pre-paid phone card traffic on its
debit platforms and maintains unlimited capacity to support one plus and
toll free long distance traffic for a variety of residential and
business applications.
Group V Corporation (a publicly traded company OTC: GRPV) is a
diversified telecommunications company specializing in some of the
world's most profitable market segments including one plus, toll free
long distance and pre-paid phone card products. Group V has created a
network of complementary companies, many of which offer products and
services of their own, many of which market, develop or deliver the
products of companies within the Group V family.
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
involve risks and uncertainties, including, without limitation,
continued acceptance of the Company's products, increased levels of
competition for the Company, new products and technological changes, the
Company's dependence upon third-party suppliers, intellectual property
rights and other risks detailed from time to time in the Company's
periodic reports filed with the Securities and Exchange Commission.
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