To: SSP who wrote (67426 ) 10/17/2000 3:35:16 PM From: StocksDATsoar Read Replies (2) | Respond to of 150070 ACEN = SAME GUYS FROM DNAP...... Applies to -- ACEN American Communications Finalizes Strategic Alliance for Acquisitions and Expansion American Communications Finalizes Strategic Alliance for Acquisitions and Expansion SARASOTA, Fla., Oct 17, 2000 (BUSINESS WIRE) -- American Communications Enterprises, Inc. (OTCBB:ACEN) today announced that it has formed a strategic alliance with Tampa Bay Financial, Inc. of Sarasota, Florida. As part of the transaction, principals of Tampa Bay Financial have acquired a controlling stock ownership interest in ACEN. In connection with the transaction, Dain Schult, chief executive officer, and Robert Ringle, chief marketing officer, resigned from their officer and director positions. Mr. Schult stated, "We believe that Tampa Bay Financial's plan to grow quickly through acquisition and merger is the best route for maximization of shareholder value." Tampa Bay Financial intends to broaden the focus of ACEN's business from its current radio-only business model. Tampa Bay Financial's Chairman, Mr. Carl Smith, stated that "opportunities within the broader communications industry will provide greater value for the Company in today's market. The plan we have put into place significantly enhances the Company's ability to open doors within the global communications marketplace." Messrs. Schult and Ringle were replaced as directors and officers by Mr. Smith and Mr. Matthew Veal, also of Tampa Bay Financial. Outgoing chairman Schult remarked, "Although previous management is resigning, we will have an ongoing stake in the success of the Company through continued stock ownership. We have great confidence in Tampa Bay Financial and their ability to broaden the Company's focus and increase its value." Certain statements included in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from such statements expressed or implied herein as a result of a variety of factors, including factors expressed from time to time in the company's periodic filings with the Securities and Exchanged Commission (the "SEC"). As a result, this press release should be read in conjunction with the Company's periodic filings with the SEC. CONTACT: Tampa Bay Financial, Inc., Sarasota Steve Wagoner, 941/923-1949 email: swagoner@tbfcorp.net URL: businesswire.com Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. Copyright (C) 2000 Business Wire. All rights reserved. -0-