Thursday February 24, 7:54 am Eastern Time
Company Press Release
MDTV Digital Satellite TV, Broadband Internet Successful Deployment Campaign Underway to Multi Dwelling Unit Marketplace
RICHMOND, British Columbia--(BUSINESS WIRE)--Feb. 24, 2000--MDU Communications International Inc. (OTC: BB:MDTV) -- Mr. Sheldon Nelson, CEO and Chairman, reports that the company is realizing very good growth in subscriber activations, and in the signing of exclusive digital satellite service long term building access agreements. According to Mr. Nelson, ''Our sales and marketing strategy to the Multi-Dwelling Unit (MDU) marketplace focuses on providing greater choice and value to customers, and we expect to realize the subscriber growth previously forecasted.''
With the recent closing of the U.S.$7.725 million financing, MDTV is in the process of deploying service to 23 new properties. These properties represent 3,200 potential customers in 5 major Canadian centers: Vancouver, Calgary, Edmonton, Winnipeg, and Halifax. MDTV expects to complete the marketing and in-suite installation of these properties in the next 30 days. Since Jan 1st, 2000, MDTV has signed an additional 21 access agreements and 22 new letters of intent with property owners and managers that represent a combined 7,537 potential new subscribers. According to Mr. Gary Monaghan, President, ''We have a very experienced and well connected team of regional sales managers that are very capable of delivering access agreements at a significant rate. This will facilitate our expected expansion into the Toronto area and into major US markets in the near future.''
In addition to the above signings, MDTV is also pleased to announce the Aquilini Investment Group has committed 14 properties located throughout Canada, representing 3900 units, to receiving MDTV's services. The commitment includes the signing of a 5 year exclusive access agreement for their 1175 unit West Edmonton Village property. This installation will replace incumbent cable with Digital Satellite TV, Broadband Internet, and ADT Security services provided by MDTV. Service will be initiated at the site in approximately 30 days.
Joseph Strang, VP of Sales and Marketing states, ''The company is increasing and training additional staff to provide the necessary customer service and to expedite the direct sales presentations required with deployment. We are committed to realizing our competitive advantage by providing a bundled package of services to these customers.''
About MDTV
MDU Communications International, Inc. is the national master system operator for Star Choice Television, one of only two licensed providers of direct-to-home satellite broadcasting services in Canada. MDTV provides digital satellite television, high-speed (broadband) Internet access, and monitored security services to the multi-dwelling unit (MDU) market place in Canada with expected expansion into the US and Asia. MDTV currently serves approximately 14,000 subscribers in 150 properties and has an additional 343 buildings with signed letters of intent or access agreements, which could increase the subscriber base to over 50,000 in the next 12-18 months.
The Company's filings, including current financial reports, can be accessed through the EDGAR database at www.sec.gov. For additional information please see www.mduc.com or contact Investor Relations.
Corporate Headquarters 108 - 11951 Hammersmith Way Richmond, BC, Canada, V7A 5H9 www.mduc.com Investor Relations: Tel: (800) 794-9076 Fax: (604) 277-8301 Investor@mduc.com
''Safe Harbor'' statement under the Private Securities Litigation Reform Act of 1995: This release contains forward looking statements that are subject to risks and uncertainties, including, but not limited to, the impact of competitive products and pricing, product demand and market acceptance, new product development, reliance on key strategic alliances, the regulatory environment, fluctuations in operating results and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
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Contact:
MDU Communications International, Inc.
Investor Relations, 800/794-9076
Fax: 604/277-8301
Investor@mduc.com
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