To: topwright who wrote (21250 ) 11/14/1997 9:49:00 AM From: Jack Sman Read Replies (1) | Respond to of 41046
WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Nov. 14, 1997-- Franklin Telecom (OTC:FTEL) Friday announced that it has completed a private placement of convertible preferred shares for $5,000,000 with institutional investors. Funds will be used for production and deployment of the Tempest, Franklin's newly developed Data/Voice Gateway and for the roll- out of the previously announced FNet global network. The FNet.Phone network, utilizing IP and the Internet, will connect the Data/Voice Gateways, ensuring quality-of-service and reliability. FNet, Franklin's Internet subsidiary, will operate the network. Franklin recently conducted a hands-on demonstration of the Tempest on Wall Street for shareholders, media and investment bankers. Participants were highly enthusiastic about the voice quality of the calls as well as the ease of usage. Shortly thereafter, the Tempest was again demonstrated, this time at CT Demo in Orlando, Fla., a by-invitation-only show sponsored by "Computer Telephony" magazine. Once again, the Tempest was an enormous hit. Franklin's president and CEO Frank Peters said, "The Tempest is creating unprecedented opportunities for our company. It is enormously gratifying that we have the capital in hand to proceed, full-speed ahead with the production and installation of the units we need to bring our new network to life!" The Franklin Tempest Data/Voice Gateway allows phone-to-phone service over the Internet or Frame Relay using ordinary telephones (no computer required), and without requiring any special hardware or software at either connection. The Tempest facilitates long-distance telephone calls at greatly reduced cost compared with conventional telephone service providers. The installed network will be utilized by existing clients as well as FNet customers. The primary business of Franklin Telecom, founded in 1981, is the design and manufacturing of communications devices, high speed LAN, WAN, Telco & Satellite Systems and software. Franklin has an installed base of more than 100,000 modes worldwide. Franklin's Internet subsidiaries, FNet and Internet Passport provide services using FTEL products. For the latest up-to-minute information, visit the Franklin Telecom Web site: ftel.com --30--MEM/la* EW/la CONTACT: Franklin Telecom, Westlake Village Helen West, 805/373-8688 KEYWORD: CALIFORNIA INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED INTERACTIVE/MULTIMEDIA/INTERNET TELECOMMUNICATIONS TRADESHOW Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com