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Technology Stocks : EGLO Executive Telecard -- Ignore unavailable to you. Want to Upgrade?

To: HarperLee who wrote (252)	2/14/2000 9:16:00 AM
From: Howard C.	Read Replies (1) \| Respond to of 300

BIG NEWS! Monday February 14, 7:01 am Eastern Time Company Press Release SOURCE: eGlobe, Inc. eGlobe Announces i1.com Completion of Initial Financing eGlobe Remains Largest Shareholder Adds Key Partners to Asian e-Commerce Business WASHINGTON, Feb. 14 /PRNewswire/ -- eGlobe, Inc. (Nasdaq: EGLO - news) today announced key investments and strategic partnerships in i1.com by a group of Asian companies and private equity investors. Their investment brings an additional $7 million of capital to i1.com. The financing also gives i1.com strong partnering arrangements in Asia in addition to those provided by eGlobe's relationships. New investors in i1.com include Euroc V.C. Group, one of the principal institutional private equity investors in Taiwan, Chadwick Investments Ltd., a Hong Kong based private equity investor, Twinhead International Corp., the Asian manufacturer of Notebook PC, Luxon Electronics Corp., the largest electronics capacitor manufacturer in Taiwan, and members of the management team of Gigamedia, a Chinese Broadband Portal company whose investors include Microsoft. Although eGlobe remains the largest shareholder in i1.com and still holds a majority of the voting interest in the company, its voting interest in i1.com is expected to fall below 50% after a second tranche of this financing with other Asian partners and investors is completed in the near future. ``This first round of new shareholders in i1.com brings the Company needed support from companies throughout greater China,' commented Hsin Yen, President and CEO of i1.com. ``We see their relationship with us as validation of our approach to e-Commerce solutions across Asia.' ``eGlobe welcomes the local knowledge and capabilities that these new investors in i1.com represent,' said Christopher Vizas, Chairman and Chief Executive of eGlobe. ``This first round of financing reflects our continuing commitment to cooperation and joint ventures in the development of our business around the world.' About i1.com i1.com is the e-Commerce solutions company through which eGlobe is pursuing the development of e-Commerce in Asia. i1.com is developing a distributed network of e-Commerce applications that will allow small and medium-sized businesses to easily and cost-effectively transact business over the Internet. It will provide complete back-office support for companies seeking to expand their sales and distribution channels through a presence on the worldwide Web. About eGlobe eGlobe is a leading global enabler of enhanced Internet services for the world's telephone companies and Internet Service Providers. eGlobe's services include: Voice over IP, telephone-based portal and unified messaging services. Through its World Direct network, eGlobe originates traffic in more than 90 territories and countries and terminates anywhere in the world. eGlobe provides its services principally to large national telecommunications companies, to ISP's and portals, and to financial institutions. Certain statements in this news release are ``forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995 and involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward looking statement. Factors that impact such forward looking statements include, among others, the ability of the Company to attract additional business, the ability of the Company to successfully integrate acquisitions and mergers, complete software development and offer new products, changes in expectations regarding restructurings, including tax liabilities and reductions in cost, possible changes in collections of accounts receivable, risks of competition, price and margin trends, changes in worldwide general economic conditions, changes in interest rates, currency rates and worldwide competition. SOURCE: eGlobe, Inc.