From: newsout@canada-stockwatch.com
Date: Thu, 06 May 1999 05:58:21 -0700
Subject: Stockwatch US: WTHL
X-Mailer: <WinNT's Blat ver 1.5>
(Applies to: WTHL)
New Management Brings Total World Tele-Communications Into Compliance;
Officially Changes Name to Whitehall Enterprises
MIAMI (May 6) BUSINESS WIRE -May 6, 1999--Whitehall Enterprises Inc.
(OTC BB:WTHL), formerly known as Total World Tele-Communications Inc.,
announced Thursday that the company is now in compliance with the
Securities and Exchange Commission with regard to its quarterly and
annual reports.
The company completed the filings for the fiscal years, ended Sept. 30,
of 1997 and 1998, as well as the first quarter of fiscal 1999, bringing
Whitehall Enterprises into compliance with the SEC under the conditions
of the company's reorganization plan. The company also filed an 8-K
officially changing the company's name to Whitehall Enterprises Inc.,
and changing the company's auditor.
Luis Alvarez, president of Whitehall Enterprises, stated: "We are
pleased to have completed the initial phase of the company's
reorganization. It will enable us to set our business plan in motion
and gather momentum for the emergence of Whitehall Enterprises as a
growth-oriented company."
Whitehall Enterprises Inc., formerly Total World Tele-Communications
Inc., is emerging from its bankruptcy reorganization as a holdings
company and is in the process of negotiating acquisitions that can be
developed to enhance the company's strategic growth plan.
The Private Securities Litigation Reform Act of 1995 provides a "safe
harbor" for forward-looking statements. Certain information included in
this news release (as well as information included in oral statements
or other written statements made or to be made by Whitehall Enterprises
Inc.) contains statements that are forward-looking, such as statements
related to consummation of the transaction, anticipated future revenues
of the companies and success of current product offerings. Such
forward-looking information involves important risks and uncertainties
that could significantly affect anticipated results in the future and,
accordingly, such results may differ materially from those expressed in
any forward-looking statements made by or on behalf of Whitehall
Enterprises. For a description of additional risks and uncertainties,
please refer to Whitehall Enterprises Inc.'s filings with the
Securities and Exchange Commission, including Forms 10-K and 10-Q.
-0- lhs/mi*
CONTACT: Investor Relations Services Inc., New Smyrna Beach, Fla.
Tom Biggs, 904/409-0200
KEYWORD: FLORIDA
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