Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: judge who wrote (10413)	6/30/1999 3:45:00 PM
From: SIW	Respond to of 108040

EUTC news...Is not appearing in my Bridge feed yet...should provide some pop tomorrow as news filters down...many more contracts to come according to my convo with IR.... Wednesday June 30, 12:19 pm Eastern Time Company Press Release EuroTelecom Communication's Latest Acquisition, Intelligent Networks Ltd., Awarded New Contract by the Bank of Luxembourg LONDON--(BUSINESS WIRE)--June 30, 1999--EuroTelecom Communications (OTC BB:EUTC) continues to execute its business plan for revenue growth and market expansion with the awarding of a new contract to its latest acquisition, Intelligent Networks Ltd. Intelligent Networks Limited, based in London (with operations offices located in Brussels, Luxembourg, Budapest and Tokyo), has been awarded a $1.89 million contract by the Bourse de Luxembourg. The new contract makes possible the recovery of acquisition costs for Intelligent Networks Limited by EuroTelecom within the first year of acquisition. This new contract raises next year's projected earnings for the three acquisitions made this year by EuroTelecom to $15.09 million. This conservative figure does not include earnings projections for EuroTelecom. Intelligent Network Ltd. is an established London-based consulting and network services provider of leading-edge solutions for advanced integrated networking applications. This new contract and associated expertise will put EuroTelecom and Intelligent Networks Ltd. at the leading edge of networking implementation within Europe's financial community for I.T. upgrades associated with Europe's new bank harmonization rules. This new contract covers the design, installation and commissioning of new LANs for the Bourse, its business recovery center and all of the member banks. Significantly, the main application is an upgraded trading system for members. The network will also be capable of supporting a system for disseminating fund information. A new system which meets European Union rules for financial harmonization will soon provide all Luxembourg banks with a means of reporting foreign exchange transactions. The heart of the network is a new secondary site which mirrors the main Bourse de Luxembourg (BDL) installation. The new facilities will upgrade both the systems and equipment at BDL, where Intelligent Networks has provided consulting services and support for nine years. The integrated networking system will be the first in Luxembourg to use ATMs with state-of-the-art hubs. Completion is scheduled for the end of 1999. EuroTelecom Communications Inc. (http://www.eurotelecom.co.uk) supplies Information Technology systems and networking infrastructures to telecommunications operators, systems integrators, corporations, financial institutions, governments, and defense organizations. This press release may contain forward-looking statements, and any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking. These statements by their nature involve substantial risks and uncertainties and actual results may differ. Contact: EuroTelecom Communications Inc. R.I. Hay, 011 44 1709 590 899 investors@eurotelecom.co.uk or Investors Capital of North America, Houston J. Dibble, 281/444-0157 or 877/893-2666