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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 (22393)	12/22/1999 12:08:00 PM
From: John M.	Read Replies (2) \| Respond to of 52051

sw...ADGI getting some attention today after yesterday's news... .037+ ...looks good to me. HICKORY, N.C., Dec 21, 1999 (BUSINESS WIRE) -- American Diversified Group, Inc. (OTCBB:ADGI) announced today that all parties have executed the stock for stock purchase and acquisition agreement for ADGI to acquire one-hundred percent (100%) of the stock of its Internet telephony affiliate, Global Transmedia Communications Corporation ("Global"), Miami, Fla. An 8-K will be filed with the Securities and Exchange Commission reflecting the acquisition. Global has rapidly accelerated its growth and is continuing and in process of negotiating agreements with local partners in other countries, including South America, Mexico and Eastern Europe. Global presently has existing local partner operations in Colombia, Mexico and Venezuela. Global has personnel in New York City, San Antonio, St. Louis, and Miami. Global recently arranged and received capital infusion of $500,000 from private investors. There will be a private placement by ADGI to raise additional funds needed for ADGI and Global's expansion plans and for capital needed to open operations and networks into other countries. Global is currently revising its quarterly revenue projections based on acceleration greater than previously expected or anticipated. Jerrold R. Hinton, President of ADGI stated, "We have worked with Global for some two years and during that period of time have seen the tremendous opportunities in being associated with Global and its growth, in the Voice Over IP arena and especially in the countries where Global has and is negotiating with local partners. The cost to initiate, operate and maintain systems compared to the potential revenues is very attractive and adding customers and business volume, once the network is set up, is small compared to the opportunity for growth and increased revenues." Vivian Manevich, President of Global states, "Global has had many opportunities to align itself with a public company but we feel ADGI has demonstrated its assistance and loyalty to Global and its perseverance and integrity in the marketplace, with the timing being well suited for our association and rapid growth such that ADGI, Global and the shareholders can benefit from several years of hard work, coupled with a talented proven staff in the telecom industry." Dr. Jerrold R. Hinton will continue as President and CEO of ADGI. Certain statements in this release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Act of 1995. The words "forecast", "project", "intend", "expect", "should", "would", and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (financing or operating) or achievements to differ from future results, performance (financing and operating) or achievements expressed or implied by such forward-looking statements. The above factors are more fully discussed in the Company's SEC filings. Copyright (C) 1999 Business Wire. All rights reserved. Distributed via COMTEX. -0- CONTACT: American Diversified Group, Inc., Hickory Jerrold R. Hinton, Ph.D., President 828/322-2044, 828/322-3798 (fax) or NY Investor Relations, 212/332-5009, 212/332-3240 (fax) or Global Transmedia Communications Corp., 305/931-4232