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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: Mariah Smyth who wrote (8428)	6/16/1999 9:46:00 AM
From: cabernetfranck	Read Replies (1) \| Respond to of 108040

Anyone watching FNCM this AM? Bought it again late yesterday hoping the CPI news was good, E-Loan IPO next week and the fact it's been beaten down of late. Up 1/2 already. GLBN also runnig this AM. L2 for FNCM anyone? Thanks Frank C.

To: Mariah Smyth who wrote (8428)	6/16/1999 9:53:00 AM
From: bigbuk	Respond to of 108040

MFMI news!!!! Wednesday June 16, 9:16 am Eastern Time Company Press Release Media Forum International Acquires Communications Company First Year Projected Net Revenues-$40 Million NEW YORK--(BUSINESS WIRE)--June 16, 1999--The Board of Directors of Media Forum International, Inc. (MFI), a communications company with offices in New York, greater Los Angeles, and Melbourne, Australia, (NASDAQ OTCBB - ''MFMI'') announced today that it has acquired a majority equity interest in a Los Angeles based communications company that operates a major US and international gateway telecom switching operation. The company has existing contracts with MCI/Worldcom, Quest Communications, and World xChange among others. The company projects that it will be terminating 250 million minutes of communications traffic per month at the end of June, 2000. Roger May, Chief Executive Officer of MFI, said, ''Based on operational experience of termination contracts in hand, and currently being completed, the company expects to generate $40 million dollars in net revenues, from gross sales of $150 million, for the year ending June 30th, 2000.'' ''MFI is very excited about the acquisition of this international switching operation. It provides the company with a strong foundation in the communications industry, ''May said. ''In addition to substantially increasing the operational cash flow for the company, it will be very complementary to two other telecommunications-related acquisitions we are in the process of finalizing.'' May noted that the acquisition fits well into MFI's overall strategy with its Wireless Network project ''SpectruCell''. ''MFI has embarked upon an aggressive program to acquire compatible telecommunications companies that will not only provide substantial revenues during the final development stages of the Wireless Network, but also will let us demonstrate ''SpectruCell'' in a nationwide network of national and international traffic.'' The company plans to introduce an operational model of the new ''SpectruCell'' Wireless Network during the last quarter of 2000. ''Considering that the primary market for the ''SpectruCell'' Wireless Network will be the major communications network providers, and given their somewhat traditional resistance to accepting new and unconventional products, it is essential that we are able to demonstrate ''SpectruCell'' in a working environment within the USA,'' May said. ''SpectruCell'' is different from most of the ''wireless Internet'' applications currently being developed. These applications typically are a wireless interface solution for primarily the ''last mile'' or ''local loop'' bypass; ''SpectruCell '', in contrast, provides a generic wireless interface unit that will support an entire network structure. ''SpectruCell'' will deploy wireless links between the Cells and Central/MTSO switching, rather than the conventional land based fiber optic links. Perhaps most importantly ''SpectruCell'' will provide a means for the rapid deployment of both much needed new networks, and existing network expansion. 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. -------------------------------------------------------------------------------- Contact: Media Forum International, Inc., New York Roger May, CEO, 516/816-5777 or 212/758-0386 Fax: 212/308-1892 E-mail: globalcomtech@att.net or Mike Nichols, 973/809-4300 Fax: 973/594-1354