Tuesday March 16, 1:04 pm Eastern Time
Company Press Release
Franklin Telecom Joins American Stock Exchange
Growing Voice-Over-the-Internet Company Accepts Invitation to Join
AMEX
WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--March 16, 1999-- Franklin Telecom Tuesday announced that it has accepted an invitation from the Nasdaq-Amex Market Group to join the American Stock Exchange.
Franklin Telecom will begin trading on AMEX Thursday, March 18, at 11:30 a.m. EST under the trading symbol FCM.
Franklin Telecom has been designing and manufacturing communication hardware and software in Southern California for 19 years. The core of the current product line is the Tempest® System, which includes a Data Voice Gateway and several sophisticated Voice over the Internet systems.
FNet Corp., Franklin's Internet and VoIP subsidiary, is currently deploying a global Next Generation Telephone Company which incorporates a hybrid of traditional circuit switched technology with satellite and new Internet Protocol Data Voice Gateways. FNet is also aggressively marketing ADSL service.
According to Franklin Chairman and Chief Executive Officer Frank Peters: ''March has already been an extremely significant month for us. We've introduced several new products, one of which Voice Enables Web sites to facilitate direct contact between businesses and their customers via a telephone connection through the Web site over the Internet.
''Another new product that has us very excited is our Internet PBX (which, incidentally foreshadows a product Microsoft, Intel, Hewlett Packard and Nortel have just teamed to begin developing --Wall Street Journal, March 15, 1999, Section B, page 12).
''With the across-the-board growth that Franklin is experiencing, it's clearly time for Franklin to move to a national exchange. We anticipate that our association with the American Stock Exchange will be very beneficial to our shareholders.''
Tom Russell, Franklin's chief financial officer, added: ''We are extremely pleased to join the American Stock Exchange. We believe this move will give us a much broader exposure to the financial markets, especially in this growth period of our company's history.''
Peters, along with Franklin President and Chief Operating Officer Peter Buswell will be guests of the Exchange on Thursday, March 18, when Peters has been asked to ring the Opening Bell.
The primary business of Franklin Telecom, founded in 1981, is the design and manufacturing of communications devices, high-speed LAN, WAN, Telco and software. Franklin customers have installed more than 100,000 nodes worldwide. Franklin's Internet subsidiary FNet provides Voice over Internet Protocol global Telco services.
For additional information about this announcement, visit the Officer's Message page at Franklin's Web Site: www.ftel.com; www.franklin.net -- for Internet Services and Access; www.fnet.net -- for Internet Telephony & Franklin's Next Generation Telephone Company.
Certain statements in this news release constitute ''forward-looking statements'' within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of the company to be materially different from any future results, performance or achievements, expressed or implied by such forward-looking statements.
Contact:
Franklin Telecom
Helen West, 805/373-8688 (investors)
Debra Kent, 805/373-8688 (media) |
