DCI Telecommunications Upgrades Denmark Facility
PR Newswire - April 08, 1998 12:30
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STRATFORD, Conn., April 8 /PRNewswire/ -- DCI Telecommunications, Inc.,
(OTC Bulletin Board: DCTC) announced today that an improved switching facility
has been completed in Copenhagen, Denmark. This facility will serve as the
central switching station providing low cost international telephone services
to the various Scandinavian countries.
John Adams, CEO and Managing Director of DCI Europe, Ltd., the European
operating subsidiary of DCI Telecommunications, stated, "With the completion
of this facility, Northeastern to Southeastern Europe can now be linked
through our telecom network via the new 'super switch' being installed in
London." Plans are underway for similar facilities throughout Europe, in
order to directly link Eastern and Western Europe through DCI's network.
The Copenhagen facility will also be equipped with an Internet connection,
allowing DCI's CyberFax subsidiary to expand its product offerings into this
market. Business customers within this region, will soon be able to
experience the cost savings benefits from real-time faxing over the Internet.
DCI recently announced an agreement with Telefonica de Espana which will
allow DCI's wholly owned subsidiary, DCI Europe, to establish a
telecommunications network that will greatly reduce the cost of long distance
telephone services throughout Southern Spain. DCI also recently announced
letters of intent to acquire Payless Communications and Edge Communications.
DCI has retained Houlihan Lokey as its exclusive financial advisor and
investment banker in connection with the Company's corporate finance and M&A
objectives. Specifically, Houlihan Lokey has been hired to assist the Company
to raise $20 million on an immediate basis, for various strategic
acquisitions, identify acquisition candidates and advise the Company on the
same, and sell the Company's non-core assets which possibly includes certain
rights to over 200 films including rights to over a dozen of the "Godzilla"
series films.
DCI Telecommunications is an international supplier of telephone services,
including long distance service, prepaid telephone cards and Internet
products. The company has an extensive distribution network throughout North
America, Europe and the Far East and owns telephone switching facilities in
Canada, the United Kingdom, Spain and Denmark. The company recently reported
sales of $6.2 million and $1.3 million in profit (13 cents per share), for the
first nine months of fiscal 1998, and has 12 operating facilities, serving
customers in eight countries.
Safe Harbor Statement under the Private Securities Litigation Act of 1995:
The statements which are not historical facts contained in this press release
are forward-looking statements that involve certain risks and uncertainties,
including but not limited to risks associated with the new uncertainty of
future financial results, additional financing requirements, development of
new products, regulatory approval processes, the impact of competitive
products or pricing, unpredictability of patent protection, technological
changes, the effect of economic conditions and other uncertainties detailed in
the company's filings with the Securities and Exchange Commission.
SOURCE DCI Telecommunications, Inc.
/CONTACT: Craig K. Murphy Director, Investor Relations of DCI
Telecommunications, Inc., 203-380-0910 ext. 301, or John Adams, CEO of DCI
Europe, 973-927-4010, or dcitel@aol.com/
/Web site: dcic.com
/Company News On-Call: prnewswire.com or fax, 800-758-5804,
ext. 107358/
(DCTC) |
