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Technology Stocks : EGLO Executive Telecard -- Ignore unavailable to you. Want to Upgrade?

To: Gravitar who wrote (15)	1/6/1998 1:09:00 PM
From: Heidi Hirst	Respond to of 300

FOR IMMEDIATE RELEASE DATE: December 22, 1997 EXECUTIVE TELECARD SHAREHOLDER LETTER Denver Colorado, December 22, 1997 - The following letter being sent to shareholders of Executive TeleCard, Ltd. (NASDAQ: EXTL) was released today by Christopher Vizas, Chairman and Chief Executive Officer. Dear Fellow Shareholder: Recently, I was elected Chairman and Chief Executive Officer of your Company. My first month has been as rewarding as it has been challenging and before the end of the year I wanted to provide you with a personal report on the status of the Company. On behalf of all of us at Executive TeleCard, I wish you and your family a Joyous holiday season. I also want to share with you what steps we are taking to assure your Company's successful growth in the year ahead. First, the fundamentals of the Company are sound. The last two months have seen a substantial improvement in EBITDA. While we can expect additional restructuring charges this month and next, those should not be more that a few hundred thousand dollars, with the possible exception of adjustments relating to past investments in eGlobe. Our goal in the next few quarters, is for cash flow to remain positive, margins to improve and our top line to begin to show the kind of growth the Company is capable of. The Company has the basic infrastructure in place to support a much higher revenue base, perhaps as much as double the current revenues. Our growth should emerge from the Company's new focus on its profitable core strengths: operating a global network that provides an enhanced calling card service for telecom carriers and credit card issuers. To this end, we have identified and taken steps to streamline operations. We are selling our Colorado-based reseller TeleCall and cancelling contracts unrelated to the Company's core business. We are also announcing a series of personnel changes and other steps taken to restructure our Company around its strengths. We are consolidating into the core operations the internet business begun in eGlobe. By taking assets already developed and integrating them with our core capabilities, costs will be reduced, permitting us by midsummer to provide an integrated package better positioned to serve our customers. The mission of the Company is to establish itself as a leading independent global supplier of validation, billing and payment services for the calling card market, and to establish itself as a leader in providing complementary internet service. I have had the opportunity to see the Company in operation and I believe that we will succeed. On another front, recently initiated efforts to reduce receivables should result in an approximate one third reduction by the end of the fourth quarter. I expect the actions announced today and other steps taken during the past four weeks, combined with the improvements in EBITDA experienced in October and November, to provide impetus in the New Year. In a short time we have reorganized our management, refocused our marketing and sales strategy and accelerated efforts to increase revenues. We will be making additional changes to encourage growth. Over the next few months we will also present our strategy and targets to you so that you can measure results. I am aware the current stock price is disappointing, and in my opinion does not reflect the current potential of Executive TeleCard. The management and directors agree with my assessment and have been buying stock. We look forward with confidence to the New Year. Yours truly, Christopher Vizas Chairman and Chief Executive Officer The Company's management will be available for a conference call on Tuesday, December 23, 1998 at 11:30 A.M. (EST). The call in number for the conference call is (312)461-9173. Certain statements in this press release are "forward looking statements; within the meaning of the Private Securities Litigation Reform Act of 1995 and involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to be materially different from the results, performance or achievements express or implied by the forward looking statement. Factors that impact such forward looking statements include, among others, the ability of the Company to attract additional business, changes in expectations regarding restructurings and reductions in cost, possible changes in collections of accounts receivable, risks of competition, price and margin trends, changes in worldwide general economic conditions, changes in interest rates, currency rates and worldwide competition. -End- For further information please call Dawn L. Van Zant toll free at 888.368.8704 or Heidi E. Hirst toll free at 888.368.8703.

To: Gravitar who wrote (15)	1/6/1998 1:10:00 PM
From: Heidi Hirst	Read Replies (1) \| Respond to of 300

FOR IMMEDIATE RELEASE DATE: January 5, 1998 WOOTERS, ROCHA, HAMMER, WINOKUR PROMOTED BY EXECUTIVE TELECARD Denver Colorado, January 5, 1998 - A series of personnel changes at Executive TeleCard, Ltd. (NASDAQ - EXTL) were announced here today by Christopher Vizas, Chairman and Chief Executive Officer. The changes were made in connection with the reorganization of the Company now underway. The following appointments were announced: William H. Wooters, Director of North American Sales, has been appointed Vice President Sales and Marketing. Mr. Wooters served as Marketing Development Manager at Sprint Corporation before joining Executive TeleCard. At Sprint, he set up marketing communication strategies for the Sprint alternate channel business distribution program. Miguel Rocha, Managing Director of Asia-Pacific Operations, has been named Vice President Carrier Relations, Asia-Pacific. Mr. Rocha came to Executive TeleCard after nineteen years with the Cable & Wireless Group, twelve of which were with the sales and marketing divisions. Mr. Rocha helped to build the C&W corporate sales support team which has played a critical role in the development of Hong Kong Telecom. Danny Winokur, President of the Company's eGlobe subsidiary, has been named Vice President Internet Services. Mr. Winokur founded a computer network consulting company, and was Director of Marketing and Director of Operations at USA Net before joining Executive TeleCard. At Executive TeleCard he has been responsible for developing eGlobe's global internet access service. John Hammer, Vice President Product Development, has been appointed Vice President of Engineering and Service Development. Mr. Hammer joined the Company in 1993 after previous experience with LCI and Sprint. He became responsible for developing all of the company's products and services. Allen Mandel, who will relinquish his duties as Chief Financial Officer as soon as a suitable replacement is found, has been named Senior Vice President Corporate Affairs, and will join Mr. Vizas in the newly established office of the Chief Executive. Mr. Mandel will assume newly established planning functions, as well as managing external relations. Mr. Mandel, a certified public accountant, has been with the Company for more than five years and was with Reeves Communications Company before joining Executive TeleCard. Bijan Moaveni, who as a consultant made a major contribution to the Company's reorganization and business planning, announced that he is returning to Coast International Communications to devote full time to his responsibilities as Chief Executive Officer. Stig Sonnerberg, an Executive Vice President and Director of European Operations, announced that he will be leaving the Company in a few months. Executive TeleCard, founded in 1987, is an international communications service company providing voice and data services via its World Direct global network to major corporate and carrier partners worldwide and providing enhancements to its partners' global calling cards. Executive TeleCard's products and services include: revenue sharing partnerships, global calling cards, the only true global prepaid card platform, global internet access (eGlobe), international and domestic toll-free service (Service 800) and multi-currency, detailed billing. -End- For further information please call Dawn L. Van Zant toll free at 888.368.8704 or Heidi E. Hirst toll free at 888.368.8703.