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To: 2MAR$ who wrote (4726)	7/22/1999 1:04:00 PM
From: D. RUTTER	Read Replies (1) \| Respond to of 150070

ALL READ!! MFMI is hot MFMI news out! Thursday July 22, 9:16 am Eastern Time Company Press Release Advanced Communications Technologies, Inc., Forms AGC, a New Communications Company, $40 Million in Projected Revenues for 2000 NEW YORK--(BUSINESS WIRE)--July 22, 1999--The Board of Directors of Advanced Communications Technologies, Inc. (''ACT'') (OTC BB -''MFMI'') announced today the formation of a new communications company called Advanced Global Communications, Inc., (''AGC'') that will be a wholly owned subsidiary of the parent company, ACT. Mr. James Rennie, a twenty-year veteran of the Telecommunications Industry, was appointed President of AGC, on July 15th, 1999. Mr. Rennie has an extensive sales, and engineering background in multiple types of switching platforms and network services. He is regarded as an expert in all types of Satellite communications; as well as in ATM and Voice IP network design and structure. Mr. Rennie founded and managed two successful Internet Service Provider (''ISP'') companies in Florida prior to joining ACT. The new corporation will be the operational arm of ACT for all USA based communications operations as well as the holding company for all currently owned switching operations, and planned acquisitions of other switching and communications companies. The formation of the company is consistent with ACT's plans to aggressively pursue the acquisition of smaller telecommunications enterprise specializing in International origination and termination, via ATM switching and Voice IP. It is also consistent with ACT's previously stated objective to establish a nationwide communications network for the field testing and demonstration of the SpectruCell wireless network, as well as for the generation of immediate revenues. The Chief executive Officer of ACT, Mr. Roger May said '' The profit margins associated with the termination of international voice and data traffic can be much higher than revenues from local long distance, especially when utilizing Voice IP backbone. Contracts secured recently reflect profit margins of 10 cents to 25cents per minute, or for the volume of international minutes contracted, net revenues of $1,000,000 per month, with the first earnings receipts due in mid August, 1999''. ''May also said that current estimates indicate that AGC will be able to achieve a monthly revenue rate of $100 million per year, prior to June 30th, 2000''. Revenues for 1999/2000 should reach $40 million. May also said ''the company is currently completing the acquisition of a Company with proprietary technologies in the field of microwave transmissions. The primary technology is ''Spectrum Efficient point-to point Digital Microwave''. The product is currently operational and was field tested earlier this year for four months over a 65 mile link, achieving 100% efficiency with zero bit error rate, and data rates 15 times greater than currently available point -to-point microwave links used by network providers at present.'' The company also has a CDMA wireless local loop technology currently operational and in production. Full details will be made available upon the completion of the acquisition. 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: Advanced Communications Technologies, New York Roger May, CEO 949/757-0779, or 516/816-5777 Fax: 949/477-4937 actusa2000@aol.com