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Microcap & Penny Stocks : ADGI - American Diversified Group -- Ignore unavailable to you. Want to Upgrade?

To: John D. Morrison who wrote (5810)	3/19/1998 3:48:00 PM
From: gtoland	Read Replies (1) \| Respond to of 9569

Press Release Alert... American Diversified Group Inc.Contract to Acquire Equity in Telephonetics Overseas March 19, 1998 03:41 PM NEW YORK--(BUSINESS WIRE)--March 19, 1998--American Diversified Group ADGI Thursday announced a contract to acquire up to 45% of Telephonetics Overseas Corp. of Miami in a cash transaction, based upon satisfaction of certain sales performance levels by Telephonetics. Telephonetics Overseas is engaged in the business of providing state of the art hardware and audio content for on-hold and web-site messaging and advertising under a Distribution and Licensing Agreement with Telephonetics International Inc. (TII), the industry leader in On-Hold Media Services, with over 50,000 telephone systems in service. Present users of systems provided by Telephonetics by TII include Pizza Hut, Penske Auto Centers, Enterprise-Rent-A-Car, Just For Feet, SunTrust Bank, Barnett Bank, Airborne Express, AAA, among others. Telephonetics is currently in negotiations for the sale of its on-hold services to other Fortune 500 corporations, including office supply chains, consumer electronics retailers, fast food chains and many other multi-location businesses. Telephonetics' agreement with TII grants the exclusive right to market TII's products and services in Canada, Latin America and South America, and other foreign language markets and Telephonetics shares co-marketing rights in the United States. Telephonetics also distributes Internet telephony equipment and services and computer telephony products for sale in domestic and foreign markets. Through joint ventures with InterWorld Computer technology, Telephonetics offers Innomedia Internet telephony products that include InfoTalk, which permits long-distance telephone calls world-wide, via the Internet, using a telephone without need for a computer. Telephonetics presently markets its On-Hold Messaging and Internet telephony services with Alpha Tech of Canada, with test systems in place with the Bank of Montreal and Canadian Tire. For further information, ADGI's Broadcast Fax System will disseminate ADGI information (releases, newsletters, shareholder updates), and is accessible to all ADGI shareholders via fax. To add you fax number to ADGI's Broadcast System, please contact ADGI's NYC Conference Office at 212/332-5009 or by fax at 212/332-3249. Telephonetics may be reached at 305/620-2577. gary