To: Sergio H who wrote (5723 ) 6/8/1998 8:13:00 AM From: Charly Respond to of 29382
Sergio, IFCI signed 10 Mio $ Contract Monday June 8, 7:28 am Eastern Time Company Press Release International FiberCom's Riley Communications Subsidiary Awarded $10 Million Contract PHOENIX--(BUSINESS WIRE)--June 8, 1998--International FiberCom Inc. (NASDAQ:IFCI - news; BSE:IFC) Monday announced that its wholly-owned subsidiary, Riley Communications (''Riley''), has been awarded a sole source subcontractor award from construction manager Neilsen Dillingham, to provide a group of fiber-optic rings for a telecommunications company in and around Anaheim, Calif. Work has commenced and this contract is expected to generate IFCI approximately $10 million in revenue by Dec. 31, 1998. International FiberCom completed the acquisition of Riley Communications in April, 1998. Riley, based in California, builds and maintains broadband fiber-optic and other networks for major cable, telephone and other telecommunications companies, including TCI and Comcast. Commenting on the award, Joseph P. Kealy, chief executive officer of International FiberCom, stated, ''Riley was acquired as part of a strategic plan to enter the substantial California market. This award marks our entry into California, and we anticipate becoming a formidable player in that market. ''Riley has the ability and wherewithal to manage contracts of this magnitude and beyond. We expect to announce additional contract awards in the near future.'' International FiberCom is a fully integrated ''one stop shopping'' outsource provider for the telecom and CATV industries. Through its four subsidiaries, IFCI provides a range of high level engineering, broadband network systems design, installation of structured cable and fiber-optic networks and complete telecommunications systems integration services with LAN's and WAN's expertise. Its Kleven Communications subsidiary specializes in the design, installation and maintenance of fiber-optic and other cable services for the telecommunications and cable industries. Its Tennessee based subsidiary, Concepts In Communications, provides systems integration services including design, engineering, installation and maintenance of structured cable systems, network hardware and software, workstation peripherals and intercommunications systems. Concepts maintains value added reseller and/or partner agreements with Lucent Technologies, 3Com, Bay Networks, Novell, WIN Communications, BellSouth, Compaq and Hewlett Packard. Its telecommunications engineering subsidiary, Compass Communications, specializes in designing broadband video, voice and data networks systems. Southern Communications Products is a leader in a fast growing niche business within the telecommunications equipment sector. This press release contains ''forward-looking statements'' which are based largely on the company's expectations and are subject to various business risks and uncertainties, certain of which are beyond the company's control. These forward-looking statements are intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from these forward-looking statements as a result of such risks. In light of these risks and uncertainties, there can be no assurance that the forward-looking statements contained herein will in fact transpire or prove to be accurate. A more complete listing of cautionary statements and risk factors is contained in the company's reports filed on Form 10-KSB and Form 10-QSB with the Securities and Exchange Commission. The company makes no commitment to disclose any revisions to forward-looking statements, or any facts, events or circumstances after the date hereof that bear upon forward-looking statements. ------------------------------------------------------------------------ Contact: International FiberCom Inc., Phoenix Joseph P. Kealy, 602/941-1900 ifci.net or Liviakis Financial Communications Inc. Robert Prag, 916/448-6084