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Microcap & Penny Stocks : TIGI - NEWS ONLY (formerly TSIG) -- Ignore unavailable to you. Want to Upgrade?

To: REW who wrote (43)	3/20/2000 9:09:00 PM
From: REW	Read Replies (1) \| Respond to of 110

TSIG.com to Reach Global Market with Purchase of American Teleswitch ST. PETERSBURG, Fla.--(BUSINESS WIRE)--March 17, 2000-- TeleServices Internet Group Inc. (OTCBB:TSIG - news), known as TSIG.com, today announced that it has entered into a letter of intent to purchase American Teleswitch Corporation (``ATC'), a privately-held company based in Colorado Springs, Colorado. ATC markets and sells several telephony-based products through their agents, who have more than 750,000 retail customers in the European community and the Far East and who also provide services to large telecom providers, including British Telecom, Cable & Wireless, Deutsche Telecom and Telefonico Italia. The closing of the purchase is subject to an audit, further due diligence and the execution of definitive documentation. Details of the purchase will be disclosed after the execution of the purchase agreement. ``By purchasing American Teleswitch, TSIG.com gains access to a large and rapidly growing customer base to whom we can offer our Internet products and services,' stated Robert Gordon, TSIG.com's Chairman and CEO. ``We also gain the opportunity for significant market penetration in Europe, where the Internet economy is less developed than in the United States but catching up quickly.' ATC brings to TSIG.com an established presence in the telephony market place, and access to an installed customer base in Europe and the Far East of 750,000 people, which they and their agents expect to grow to more than 4,000,000 by 2003. In 1999, ATC generated approximately $3 million of revenues and net earnings of $400,000 (unaudited). The management of ATC has told TSIG.com that they expect revenue and profit growth of 25% to 40% per year for the next several years, and that the opportunity to add Internet-based products and services adds substantial upside potential to these growth projections. About American Teleswitch Corporation American Teleswitch Corporation (``ATC') of Colorado Springs, Colorado, is privately-held company that markets and sells several telephony-based products to customers in Europe and the Far East and provides services to large telecom providers, including BritishTelecom, Cable & Wireless, Deutsche Telecom, and Telefonico Italia. The company's current product line includes a micro-dialer used to access certain long-distance carriers and a recently developed RDS (FM) pager that is sold to paging companies, who then lease the devices to subscribers. About TSIG.com Headquartered in St. Petersburg, Florida, TSIG.com created the My MusicCard program (http://www.mymusiccard.com) to enable consumers to purchase CDs and cassettes at the lowest prices, and to develop revenue-generating programs with corporations and non-profit organizations that drive consumers to customers' Internet sites for the lowest cost in the industry. Similarly, TSIG.com's My PhotoCard programs provide the lowest cost film processing and Kodak film. These uniquemarketing programs provide high margin returns and develop strong brand loyalty and awareness within target communities. TSIG.com also provides customer service and support with its Web-based call center and related services. This press release contains ``forward-looking statements' within the meaning of Section 27A of the 1933 Securities Act and Section 21E of the 1934 Securities Exchange Act. Actual results could differ materially, as the result of such factors as (1) competition in the markets for the products and services sold by the company, (2) the ability of the company to execute its plans, (3) the availability of financing at favorable terms, and (4) other factors detailed in the company's public filings with the SEC. Contact: TSIG.com, St. Petersburg Paul Henry, 727/897-4000 phenry@tsig.com Richard Wheeler, 727/897-4000 dwheeler@tsig.com