Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Voice-on-the-net (VON), VoIP, Internet (IP) Telephony -- Ignore unavailable to you. Want to Upgrade?

To: Steve Antonelli who wrote (500)	5/6/1998 8:23:00 AM
From: Frank A. Coluccio	Read Replies (1) \| Respond to of 3178

Quintel and Delta Three Announce That They are Negotiating to Form Joint Venture to Build a Proprietary Internet Telephony Network May 6, 1998 PEARL RIVER, N.Y.--(BUSINESS WIRE) via NewsEdge Corporation -- Quintel Entertainment Inc. (NASDAQ:QTEL) and Delta Three Inc., a subsidiary of RSL Communications Ltd. (NASDAQ:RSLCF), today announced that they are negotiating to form a joint venture to build a North American Internet telephony network that will also interconnect with the Delta Three international Internet telephony network. The parties have entered into a memorandum of understanding which outlines the basic understanding in principle between them. This memorandum of understanding is non-binding on the parties and is subject to the execution of definitive agreements. The parties are moving quickly to advance negotiations and execute these agreements. The venture is intended to couple Quintel's expertise in telecommunciations direct marketing with Delta Three's technical acumen and accomplishments as the world's largest phone-to-phone Internet telephony service provider. Delta Three has already extended its Internet telephony network to 20 countries where it provides international long-distance services. Delta Three and Quintel intend to build a fully-integrated Internet telephony network in the U.S. which they expect could provide nationwide coverage by the end of 1998. Commenting on the joint venture, Quintel's chairman, Jeffrey Schwartz, said, "We believe that Delta Three has the experience and technical expertise as an Internet telephony provider necessary to successfully complete a project of this scope. Quintel's proven successful marketing experience acquiring millions of telecommunications customers and its 35 million person database should prove invaluable in securing customers for Internet telecommunications products such as long distance, as well as other enhanced telecommunications services." Elie Wurtman, the chief executive officer of Delta Three, said, "We are very excited about the prospect of this Internet telephony venture with Quintel as our partner. We have already demonstrated our ability to create an Internet telephony network overseas, and we believe that the Internet will have a major impact on telecommunications in the future. A partnership with Quintel will enable us to begin the commercialization of Internet telephony services for the consumer market, most notably in the development and deployment of enhanced value-added services." Delta Three, a wholly-owned subsidiary of RSL Communications Ltd., generates millions of minutes of voice traffic each month by providing Phone-to-Phone offerings such as calling cards, PC-to-Phone, and other enhanced services to a growing number of consumers around the world. With over 20 Points of Presence, Delta Three manages the world's largest IP network dedicated to voice and fax traffic. Quintel Entertainment Inc. is a leading direct marketing company that specializes in telecommunications products and services. This release contains certain forward-looking statements and information relating to Quintel that are based on the beliefs of Quintel's management, as well as assumptions made by and information currently available to the company. Such statements reflect the current views of the company with respect to future events and are subject to certain assumptions, including those described in this release. Should one or more of these underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected. This release contains certain forward-looking statements and information relating to Delta Three that are based on the beliefs of Delta Three's management, as well as assumptions made by and information currently available to the company. Such statements reflect the current views of the company with respect to future events and are subject to certain assumptions, including those described in this release. Should one or more of these underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected. This press release is available on the KCSA Worldwide website at www.kcsa.com CONTACT: Quintel Entertainment Inc. \| Jeffrey L. Schwartz \| 914/620-1212 \| or \| KCSA \| Joseph A. Mansi/Paul Holm \| 212/682-6300, ext. 205/201 [Copyright 1998, Business Wire]