TORRANCE, Calif., Jun 19, 2000 (BUSINESS WIRE) --  Nova Communications Ltd.
(OTCBB:NCVM), today announced that it has entered into a letter of intent to
acquire 80% of Communications 2000 in an agreement in which Nova will acquire
80% of the outstanding shares of common stock of Communications 2000.
 
Revenues for Communications 2000 for the previous year were approximately
$2,000,000.
 
Murray Goldenberg, chief executive officer of Nova, commented, "We are very
excited about this acquisition. Communications 2000 is a premiere supplier of
business communication systems in the Southern California market and is well
positioned to benefit from the accelerating growth in the telecommunications
industry. It marks the first step of a multi-phase plan to acquire and develop
other business communication companies in our national expansion directive."
 
Ken Owen, president and sole owner of Communications 2000 added, "I am looking
forward to utilizing the resources of Nova to assist in the implementation of
our business plan. We believe that with Nova's help and the new supplier base
which we have been procuring that we will be able to accelerate our expansion
plans."
 
 
     About Nova Communications
 
Nova is a business incubator that invests in, develops and manages emerging
growth companies. Formerly structured as a Business Development Company (BDC),
and reporting under the Investment Company Act of 1940, Nova has made the
transition to a fully reporting holding company. It is Nova's strategy to pursue
acquisition opportunities in the telecommunications and business communications
industries. Nova will continue to support its investments in And Justice For All
and the real estate developments in Biloxi, Miss., while pursuing its ongoing
efforts to develop the communications business.
 
 
     About Communications 2000
 
Communications 2000 Inc. has headquarters in Torrance, Calif. and operates under
the trade name Telephone Equipment Company (TEC Networks). The company has been
in the business of sales, installation and service of a broad range of business
communications solutions. TEC, formerly an AT&T Platinum voice equipment
provider, known for providing quality voice and data applications, uses the
highest quality products available to solve its customers' communication needs.
TEC offers a complete package of consulting, engineering, sales and installation
services as solutions. TEC has recently moved into a new state of the art office
and warehouse facility which has been designed to accommodate the internal
growth and national expansion.
 
This news release contains forward-looking statements, including statements
regarding the company's business strategies and business. These forward-looking
statements are based primarily on the company's expectations and are subject to
a number of risks and uncertainties, some of which are beyond the company's
control. Actual results could differ materially from the forward-looking
statements as a result of numerous factors, including those set forth in the
company's filings with the Securities and Exchange Commission.
 
 
 CONTACT:          Nova Communications Ltd. / Telephone Equipment Company
                   Murray Goldenberg, 800/869-0912
                   investorrelations@telequipco.com
                   www.TEC-Networks.com