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Gold/Mining/Energy : First Telecom FTL-VSE -- Ignore unavailable to you. Want to Upgrade?

To: Bernard Poulin who wrote (115)	6/14/1999 6:11:00 PM
From: Nextnet	Respond to of 127

FIRST TELECOM ANNOUNCES VANCOUVER TELEPHONE'S 1999 FIRST QUARTER AND 1998 YEAREND RESULTS VANCOUVER, BC-- First Telecom Corporation (the Company) VSE symbol "FTL", is currently taking the appropriate steps to complete on its letter of intent to acquire Vancouver Telephone Company Limited (Vancouver Telephone). The Company wishes to announce that Vancouver Telephone's consolidated revenue for the year ended December 31, 1998 increased by approximately 92% to $16.7 million as compared to the previous year. Consolidated revenue for the first quarter of the 1999 fiscal year are again substantially higher at $6.7 million, with earnings before depreciation, interest and taxes (EBDIT) of $680,000. (unaudited) Fiscal Year Fiscal Year Jan-Mar 1999 1998 1997 Revenue $ 6,718,306 $ 16,658,784 $ 8,665,073 EBDIT 680,932 862,690 154,475 Net income (loss) 497,302 229,891 (27,232) For further information please contact: Christian Brule, Director Tel: (604)602-7114 Fax: (604)602-7134 Email: cbrule@netcom.ca Websites: Vancouver Telephone Company Limited: www.vtcinet.com Sattel Global Networks Inc.: www.sattel.com FIRST TELECOM CORPORATION Per: (signed) Richard L. Liu, President THE VANCOUVER STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.