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Strategies & Market Trends : Stock Watcher's Thread / Pix of the Week (POW) -- Ignore unavailable to you. Want to Upgrade?

To: Stock Watcher who wrote (21336)	12/10/1999 5:45:00 PM
From: edde	Read Replies (1) \| Respond to of 52051

TLNT Moved from $1.60 to $2.75 LAKE FOREST, Calif.--(BUSINESS WIRE)--Dec. 7, 1999--Telenetics Corporation (OTCBB:TLNT - news) announced today that FirstEnergy Corporation has selected Omega(TM), Telenetics' proprietary cellular communication system, for an automatic meter reading (``AMR') project. FirstEnergy, which provides electricity to 2.2 million customers within 13,200 square miles of northern and central Ohio and western Pennsylvania, intends to provide AMR to a substantial number of its commercial and industrial customers in the year 2000. 50 Omega(TM) are to be shipped and installed in December 1999. FirstEnergy will also utilize Telenetics' Flat-Rate-Cellular(TM) service for three years for each unit purchased. Headquartered in Akron, Ohio, FirstEnergy Corporation through its electric utility operating companies -- Ohio Edison and its Pennsylvania Power Company subsidiary, The Illuminating Company and Toledo Edison Company -- is the nation's 10th largest investor-owned electric system and generates more than $5 billion in annual revenues with more than $18 billion in assets. Commenting on the receipt of first purchase order from FirstEnergy, Michael Armani, President and Chief Executive Officer of Telenetics stated that: ``The decision by FirstEnergy to install Omega(TM) wireless AMR solution and utilize our Flat-Rate-Cellular(TM) service for three years, as well as the growing interest by other utilities in our wireless AMR system, is a testimonial to the success of our cellular technology, which in a very short period of time has enabled us to become a leader in and a pace setter for the commercial and industrial AMR market. Since the introduction of our Omega(TM) product line in August 1998, we have received over $10.5 million in orders and have successfully installed over 15,000 units across North America. We expect this trend to continue.' In early November Telenetics, a leader in the design and manufacture of proprietary wireless data-communications solutions for utility and industrial automation, traffic management and intelligent transportation markets, introduced the Flat-Rate-Cellular(TM) service to customers as an enhancement to its products. This service is expected to generate significant savings to the customers and bring recurring revenue to Telenetics. The immediate beneficiaries of this service will be electric utilities with large commercial and industrial AMR projects and municipalities with traffic management plans. Telenetics is already providing this service to the City of Los Angeles and several AMR pilot projects in the Midwest. Omega(TM) cellular technology was first installed in Pittsburgh in 1998 under a contract with Duquesne Light Company (Nasdaq:DQE - news). Since then, Telenetics has received $8 million in orders from Duquesne Light. Omega(TM) is designed by Telenetics to provide meter reading, outage detection and reporting and other data acquisition capabilities through dedicated or shared telephone lines and cellular lines. Each Omega(TM) unit can be attached to eight utility meters or other similar devices and is expandable to 32 units with an enhancement. In addition to unlimited two-way communication capability, Omega(TM) products can store the serial number or address of the meter or any other device and in the case of a power outage or other alarm conditions, reports to a central host or a web address. Omega(TM) is capable of receiving or initiating communications and transmitting data as frequently as required by the host application. Telenetics uses cellular networks to collect data from industrial devices such as meters, remote terminal units, traffic controllers, industrial controls, remote sensors and data loggers and transmit it through wireless cellular and radio frequency networks or telephone lines to a host site, direct or via the Internet. Telenetics wireless solutions are utilized in many applications such as AMR projects, power outage detection, traffic automation projects, flow measurement and remote monitoring. Forward Looking Statement Disclosure: Certain of the statements contained in this press release are ``forward-looking statements' that involve risks and uncertainties. Actual future results could differ materially from these statements. Factors that could cause or contribute to such differences include but are not limited to, increased competition within the utility and industrial automation markets, the inability of the Company to fund its expected continued growth, adverse changes in the cellular services market and those discussed in the Company's Form 10-KSB for the year ended December 31, 1998 and the Form 10-QSB for the nine months ended September 30, 1999. For additional information, visit www.telenetics.com.