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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: ILCUL8R who wrote (27484)	7/12/1999 12:28:00 PM
From: DanielleC	Respond to of 50167

ATC could be HUGE! More news out today. NEW YORK--(BUSINESS WIRE)--July 12, 1999--AmTec, Inc. (ASE: ATC), an international telecommunications service company today announced that its subsidiary signed agreements to provide telecommunications services via the Internet in Sichuan Province that has over 110 million people, approximately 10% of the Chinese population. Services to be provided initially are voice and fax services over the Internet followed by the creation of a retail network to sell cellular telephones and related products. Services are to begin this fall. This follows last week's announcement where AmTec and its partner IXS.NET, Inc. reported that they had established a base in six cities in Southern China, Hong Kong and Taiwan and are selling fax and voice services. Now AmTec is moving these Internet related services to the rest of China to take advantage of this rapidly growing business sector. Chinese fax over the Internet was about 15-16 million minutes last year and is projected to triple every year to around 900 million minutes in 2002. Mr. R.T. McNamar, President of AmTec, stated, "AmTec's strategy to leverage our existing market presence in China and the Far East to become a global, diversified telecommunications services provider is moving full speed ahead. We are expanding our service offerings and geographical presence as rapidly as possible to enter this exploding Internet market at its early stage." AmTec, Inc. is an international telecommunications service company that provides voice, data and Internet telephony services through partnerships with Fusion Telecommunications International and IXS.NET, and holds joint venture interests in the People's Republic of China. Note: Forward-looking statements in this press release are necessarily subject to risks and uncertainties that may affect the accuracy of such statements. Such risks may include any political instability in China, any delays in construction of networks, and market acceptance of and demand for the Company's products. For a discussion of such risks, please refer to the Company's Form 10(k) filed with the Securities Exchange Commission for the fiscal year ending March 31, 1998. The Company undertakes no obligation to update such factors or to publicly announce the result of any revisions to the forward-looking statements contained herein. CONTACT: AmTec, New York Financial, Karin-Joyce Tjon, 212/319-9160 E-mail: ktjon@amtec-inc.com kevin@cameronassoc.com Webpage: amtec-inc.com or Cameron Associates Inc. Financial Relations, Kevin McGrath, 212/245-4577 kevin@cameronassoc.com KEYWORD: NEW YORK INTERNATIONAL ASIA PACIFIC BW1371 JUL 12,1999 8:25 PACIFIC 11:25 EASTERN