To: Kimberly Lee who wrote (7477 ) 6/8/1999 10:38:00 AM From: Ga Bard Read Replies (1) | Respond to of 108040
Kim watch CHES, WWAT and this one MFMI ... New Wireless Internet Network Receives Funding NEW YORK, Jun 8, 1999 (BUSINESS WIRE via COMTEX) -- The Board of Directors of Media Forum International, Inc. (OTC-MFMI) announced today that following the recent merger with Advanced Communications Technologies, Inc., a new Wireless Communications Network company, an agreement for new funding in the six figures had been entered into with National Investment Resources, a New York investment firm. The first installment of the funding has been received by the company. Roger May, the Chief executive Officer of the company, recently returned from Melbourne, Australia where facilities have been located to complete production of the prototype SpectruCell System (SCS). "SCS is a new totally wireless communications network structure that is a paradigm shift from today's conventional cellular networks, where call processing takes place at the cell site, to one that processes calls at a central office switching facility. This will allow Cellular network providers to support all current mobile protocols, and future or evolving protocols (3G, IMT- 2000, IMTS), and Wireless Internet applications, with minor software upgrade to their cells, that should produce significant cost savings over existing mobile network technologies," May said, "and extensive studies of the SpectruCell system have been conducted at the Royal Melbourne Institute of Technology, Australia's leading technical University." May noted that SCS will allow for the rapid deployment of new mobile networks to meet the heavy demand for new network bandwidth, as the new wireless structure does not require expensive land based fiber optic links between the cells and central switching." The prototype unit is expected to be ready for field testing in May, 2000. "We expect to be a major player in the development of new mobile networks needed to meet the ever increasing demands of the Internet applications, as well as for the traditional voice, video, and data products," May said. The company expects that production of the prototype SpectruCell system will be successfully completed in May, 2000. The foregoing contains forward-looking information within the meaning of The Private Securities Litigation Act of 1995. Such forward-looking statements involve certain risks and uncertainties. The actual results may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or implied) will not be realized. Copyright (C) 1999 Business Wire. All rights reserved. -0- CONTACT: Media Forum International, Inc., New York Roger May, 516/816-5777 or 212/758-0386 Fax: 212/308-1892 e-mail: globalcomtech@att.net