GROUP V SUBSIDIARY GAINS COMPETITIVE ACCESS RATES WITH RELOCATION OF SWITCHING EQUIPMENT AND
DEBIT PLATFORMS
-ANS Anticipates Considerable Reduction in Long Distance and Domestic Telephone Service Rates with Relocation-
San Francisco, CA (March 12, 1999): Group V announced today a strategic relocation for its wholly owned subsidiary,
Academy Network Services (ANS). Effective immediately the Company will begin consolidation and relocation of the
subsidiary's debit platforms and telephone switching equipment to Southern California.
Chairman and Chief Executive Officer, Joseph Monterosso stated, "Diminishing margins for pre-paid phone cards and
telephone service requires that we position ourselves to take advantage of the most competitive rates for both international
and domestic charges." Monterosso continued, "This relocation is an integral part of our future profitability affecting the new
business transactions that we have completed."
The Company indicated plans to retain the subsidiary's fulfillment, customer service and one plus long distance billing
operations in Arkansas. Monterosso stated that the Company recognizes the value and benefit of the support services and
seasoned staff located at this facility. Said Monterosso, "Equipment can be located anywhere, the real value and benefit to
the smooth function of our operation is the quality and caliber of the people we have with us in Arkansas."
During the relocation of the Company's telecommunications facility, all equipment will be upgraded to Y2K compliance.
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. |
