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To: Dave Gore who wrote (29711)	2/22/2000 2:11:00 PM
From: myturn	Respond to of 150070

ADGI, looking strong today on news. CMSI, also up strong today. I bought more of it at the open. Tuesday February 22, 10:25 am Eastern Time Company Press Release ADGI Announces Signing of Purchase Agreement for the Acquisition of Global Transmedia Communications Corporation HICKORY, N.C.--(BUSINESS WIRE)--Feb. 22, 2000--American Diversified Group, Inc. (OTCBB:ADGI - news) announced today the signing and execution of the Definitive Acquisition and Merger Share Purchase Agreement (``Agreement') with Global Transmedia Communications Corporation (``Global'). The companies have been working together on projects during the past two years. The Agreement establishes the formal relationship whereby ADGI has acquired ninety-nine percent of the outstanding stock of Global. Dr. Jerrold Hinton, President and CEO of ADGI stated: ``We are very excited and impressed with the quality of the Global people and their proven abilities to deploy and manage Voice Over IP telecommunications networks. In addition to expertise in VoIP, Global intends to develop and provide value added telecommunications services to International Carriers known as PTT's.' Vivian Manevich, President of Global stated, ``We are pleased to be a part of ADGI and look forward to proceeding together towards building rapid and substantial growth in the International sector of the Telecommunications market.' Global is a facilities based International Telecommunications Company. Its core competency is providing Voice Over IP (VoIP) Networks for International call origination, termination and call and data transport. Global has personnel in New York, New Jersey, Miami, St. Louis and San Antonio. Telecommunications Deregulation and market demands, supported by advanced technology solutions such as VoIP, continues to create countless opportunities for next generation telcos such as Global. The core body of knowledge and experience of the Global personnel to harness the power and benefits of VoIP positions Global to be a leader in providing telecommunications and data services at lower costs while providing greater gross sales margins. The International Calling Market is estimated to exceed $325 billion in revenues by year end. Currently only 2% of the world's voice calls are transmitted using VoIP according to Frost and Sullivan research group. IP telephony will continue to grow at a compounded annual growth rate of 325% through 2002 at a minimum as reported by Frost and Sullivan's telecommunications estimates. As previously announced Global has been granted International Carrier status under Section 214 authority from the Federal Communications Commission (FCC). This Authority granted by the FCC gives Global certain rights and privileges that A T & T, MCI-Worldcom, Sprint and other major carriers currently enjoy. Executive Offices: 110 N. Center St., Suite 202, Hickory, NC 28601 828/322-2044, 828/322-3798 (fax) Contact: Jerrold R. Hinton, Ph.D., President, ADGI e-mail: adgi@abts.net Global Transmedia Communications Corporation, Miami, FL 305/579-9922 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 (finance 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 are more fully discussed in the Company's SEC filings. Contact: American Diversified Group, Inc., Hickory Jerrold R. Hinton, Ph.D., President 828/322-2044, 828/322-3798 (fax) e-mail: adgi@abts.net or Global Transmedia Communications Corp., 305/579-9922