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Technology Stocks : eLec Communications Corp. (ELEC) -- Ignore unavailable to you. Want to Upgrade?

To: DELT1970 who wrote (173)	9/1/1999 3:51:00 PM
From: Moosie	Read Replies (1) \| Respond to of 330

NORWALK, Conn.--(BUSINESS WIRE)--Sept. 1, 1999--Sirco International Corp. (NASDAQ:SIRC) announced today that it would begin trading under its new NASDAQ ticker symbol (NASDAQ:ELEC) on September 2nd. The Company's Board of Directors has approved a new corporate name, Essex Network Services Corp., and ticker symbol in order to more clearly represent the Company's conversion to telecommunications, E-Commerce and Internet services. Paul Riss, CEO, stated, "Essex Network Services will be focused on the delivery of bundled telecommunications, Internet and application services offerings to small businesses. The execution of our strategic plan centers on a two-step process. Step one, which is well under way, encompasses the design and deployment of integrated access networks that will permit us to sell access services at a substantial profit. We define access services as local and long distance voice as well as dial-up and high speed dedicated Internet access. Our network solution includes the use of a combination of owned, leased and resold network elements." "Step two," continued Mr. Riss, "involves the design and deployment of what we refer to as network services. Network services include virtual private networking, E-Commerce and hosted applications, which permits us to act as an outsourced MIS/telecommunications department for our small business customers. Through the deployment of hosted corporate E-mail applications, storage solutions and office applications over our access network, we intend to become a facilitator of communications and information system technologies for small and medium-sized businesses." Essex Network Services Corp. (formerly Sirco International Corp. name change pending) is a diversified publicly traded Company that invests in, develops and incubates Internet and telecommunications-related businesses. Essex's portfolio of businesses include its wholly-owned subsidiaries, Essex Communications, a New York-based CLEC, WebQuill Internet Services, a Connecticut-based Internet service provider, and Airline Ventures, Inc., a Texas-based E-Commerce retailer; and its affiliates, Access One Communications, a Florida-based CLEC, RiderPoint, Inc., an online marketer of insurance and financial products, and SkyClub Communications Holding Corp., an Internet marketer of satellite-based, high speed Internet and digital television systems and services. This release contains forward-looking statements that involve risks and uncertainties. The Company's actual results may differ materially from the results discussed in the forward-looking statements. Factors that might cause such a difference include, among others, general economic and business conditions; industry trends; the loss of major customers; changes in demand for the Company's product; the timing of orders received from customers; dependence on third party sources of supply; the loss of licenses; availability of management; availability, terms and deployment of capital; and changes in state or federal governmental regulations of telecommunications services. --30--ah/ny* CONTACT: Sirco International Corp. Paul Riss, CEO Sirco 203/750-1000 paulriss@sircointl.com

To: DELT1970 who wrote (173)	10/10/1999 12:18:00 PM
From: Probart	Respond to of 330

Friday, October 8, 1999 02:44 PM NORWALK, CT--(BUSINESS WIRE)--Oct. 8, 1999--Sirco International Corp. (NASDAQ:ELEC) announced today that its Board of Directors has approved a name change to eLEC Communications Corp. The new name reflects the company's emergence over the last two years as a local exchange carrier with Internet solutions. The company's shareholders will vote on the new name at the Annual Meeting of Stockholders on November 10, 1999. Paul Riss, Sirco's CEO, stated, "Our business activities center around the operation of our local exchange carrier (our "LEC"), Essex Communications. However, our business plan includes a significant movement toward electronic Internet related services, such as Voice over IP, Digital Subscriber Lines, hosted applications and electronic yellow pages. We will, in effect, be providing our customers with service as an electronic LEC, or an "eLEC." Consequently, we believe the appropriate name for our corporate entity, which includes both a Competitive Local Exchange Carrier ("CLEC") and an Internet Service Provider, is eLEC Communications Corp." Mr. Riss continued, "We have already changed our NASDAQ ticker symbol to ELEC and we now have the Internet domain name "elec.net." It is a natural fit to have the corporate entity be known as "eLEC Communications Corp." We believe this new name will enable both the investment community and our present and future customers to more easily identify who we are and what we do." Sirco International Corp. is a publicly traded local telecommunications company that is taking advantage of the convergence of the current and future competitive technological and regulatory developments in the Internet and telecommunications markets through the integration of its wholly-owned subsidiaries, Essex Communications and WebQuill Internet Services. The company provides an integrated suite of communications services to small and medium-sized business customers, including local, long distance, dial-up access, dedicated access, and Web site design and hosting.