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Friday March 5, 2:27 pm Eastern Time
Company Press Release
Carnegie International Corporation's Latest
Subsidiary Has Immediate ROI
Paramount Gets $15 Million Contract from First Choice
Communications
BALTIMORE--(BUSINESS WIRE)--March 5, 1999-- Carnegie International
Corporation (OTC: BB CAGI) said today that its recently-acquired subsidiary Paramount International
Telecommunications, Inc., of Vista, California, has been awarded a three-year contract valued in excess of $15
million by First Choice Communications of Texas.
Carnegie completed acquisition of Paramount earlier this week (last week). Founded in 1994, Paramount
serves hotels and other businesses, primarily in 0+/- call auditing and international one-plus sectors.
David Paton, executive vice president of Paramount, said his company will provide services to First Choice that
generate automated operated-assisted calling data in the hospitality industry. He said 1999 revenues from the
contract are expected to be approximately $5 million.
Lowell Farkas, Carnegie's president and CEO, said he was ''very excited about the First Choice contract and
the immediate return on Carnegie's investment in Paramount.'' He said revenues generated by this contract
''assures us Paramount will meet or exceed our announced target of $20 million in revenues this year,
providing a positive and significant impact on Carnegie's basic earnings per share.
''Paramount's technology and customer base will ease Carnegie's entry into the hospitality industry with
MAVIS(tm), our voice-activated automated attendant and voice mail/message system,'' Farkas said, noting that
MAVIS would be sold to the hospitality industry through telephony-oriented distributors in the U.S. as part of
Carnegie's overall marketing and distribution strategy.
Carnegie International Corporation is a holding company specializing in Internet, telephony and
telecommunications products, services and distribution, including E-Commerce and EDI. Carnegie's primary
wholly-owned subsidiaries include: ACC Telecom (Columbia, Maryland), a leading reseller of equipment and
business telephone systems from Comdial (NASDAQ: CMDL - news), SONY® (NYSE: SNE - news), and
Sprint® (NYSE: FON - news); Paramount International Communications (Vista, California), which serves hotels
and other businesses, primarily in 0+/- call auditing and international one-plus sectors; RomNet Support
Services, Inc. (Boston), an Internet, e-business and technical support services company; Profit Through
Telecommunications (Europe) Ltd. (Sheffield, U.K.), a telecommunications software company providing
business solutions utilizing proprietary speech recognition, touch tone and bar code responses to send and/or
receive information, and Voice Quest, Inc (Sarasota, Florida), a developer and provider of speech recognition
and voice mail technologies and products. On December 28, 1998, Carnegie became a fully reporting
company under the Securities and Exchange Act of 1934.
Private Securities Litigation Reform Act of 1995 provides a ''safe harbor'' for forward-looking statements.
Certain information included in this Press Release (as well as information in oral statements or other written
statements made or to be made by Carnegie International Corporation) contain statements that are
forward-looking, such as statements relating to the future anticipated direction of the telecommunications
industry, plans for future expansion, various business development activities, planned capital expenditures,
future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information
involves important risks and uncertainties that could significantly affect anticipated results in the future, and
accordingly, such results may differ from those expressed in any forward-looking statements made by or on
behalf of Carnegie International Corporation. These risks and uncertainties included, but are not limited to,
those relating to development and expansion activities, dependence on existing management, financing
activities, domestic and global economic conditions, change in Federal or state laws, and market competition
factors.
MAVIS is a trademark of Carnegie International Corporation. Other trademarks are properties of their
respective owners.
Contact:
Carnegie International Corporation, Baltimore
Press Contact:
Lowell Farkas
+(410) 785-7400
lfarkas@carnegieint.com
or
The Kaminer Group, White Plains, NY
Press Contact:
David A. Kaminer
+(914) 684-1934
dkaminer@kamgrp.com
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