Friday April 16, 8:56 am Eastern Time
Company Press Release
Carnegie International Subsidiary in Strategic
Alliance with $6 Billion BCT.TELUS
BALTIMORE--(BUSINESS WIRE)--April 16, 1999--Carnegie International Corporation
(OTC: BB CAGI) said today that its Paramount International Telecommunications,
Inc., subsidiary has signed a Memorandum of Understanding to create a long-term strategic alliance with BCT.TELUS
(TSE: BTS).
David Moody, chairman of Paramount, said he anticipates that the Understanding will lead to contracts exceeding $60
million in potential revenues over the next three to four years.
The Understanding calls for Paramount to provide certain services to BCT.TELUS, while BCT.TELUS's subsidiary's
responsibility will be to provide certain services to Paramount's hospitality industry clients in Canada. The
transactions contemplated by the Understanding are subject to Paramount and BCT.TELUS's subsidiary agreeing to
a definitive legal agreement.
Paramount, which was acquired by Carnegie last month, is based in Vista, California. It was founded in 1994 and
serves the hospitality industry and other businesses with 0+/- call auditing and international 1+ services. BCT.TELUS,
based in Vancouver, is the second largest communications company in Canada, with more than 25,000 employees
and annual revenues exceeding $6 billion. U.S.-based GTE Corporation (NYSE: GTE) owns 26 per cent of
BCT.TELUS.
Second Major Contract in '99 for Paramount
Lowell Farkas, president and CEO of Paramount's Carnegie International parent, said this was the second major
contract won by Carnegie since its acquisition last month. On March 2, Paramount contracted with First Choice
Communications of Texas to provide services generating automated operated-assisted calling in the hospitality
industry, with revenues over two years expected to exceed $15 million. The BCT.TELUS and First Choice contracts,
potentially totaling in excess of $75 million over the next few years, represents considerable added value of this
acquisition,'' said Farkas.
''Due diligence prior to acquiring Paramount showed the company had excellent technology and a bright future,''
Farkas said, ''and would be aided by being a subsidiary of a public company. We also felt Paramount would ease
Carnegie's entry into the hospitality industry with MAVIS(tm), our voice-activated automated attendant and voice
mail/message system.''
Carnegie International Corporation (OTC BB: CAGI) is an Internet support and computer telephony holding company
with specialization in telecommunications products, services and distribution, and in E-Commerce and EDI. Its MAVIS
(Multi-Language Automated Voice Independent System) is a breakthrough in speech recognition-driven automated
attendant/ voice mail systems, using proprietary IVR (interactive voice response) software to recognize/respond to
callers. Along with Paramount, Carnegie subsidiaries include: RomNet Support Services, Inc., an Internet, e-business
and technical support services company, Profit Through Telecommunications (Europe) Ltd. (PTT), a
telecommunications software company providing business solutions utilizing proprietary speech recognition, touch
tone and bar code responses to send and/or receive information; ACC Telecom, a leading reseller of equipment and
business telephone systems from Comdial (NASDAQ: CMDL), SONY® (NYSE: SNE), and Sprint® (NYSE: FON),
and Voice Quest, Inc., a developer and provider of speech recognition and voice mail technologies and products.
This release may include information that could constitute forward-looking statements made pursuant to the safe
harbor provision of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements may
involve risk and uncertainties that could cause actual results to differ materially from any future results encompassed
within the forward-looking statements. Factors that could cause or contribute to such differences include those
matters disclosed in the Company's Security and Exchange Commission filings.
MAVIS is a trademark of Carnegie International Corporation. Other trademarks are properties of their respective
owners.
Contact:
Carnegie International Corporation
Lowell Farkas, 410/785-7400
lfarkas@carnegieint.com
or
The Kaminer Group
David A. Kaminer, 914/684-1934
dkaminer@kamgrp.com
More Quotes and News:
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