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Microcap & Penny Stocks : Wave Tech (ITEL) -- Ignore unavailable to you. Want to Upgrade?

To: JOE MEDSKER who wrote (309)	12/7/1998 2:52:00 PM
From: wd	Read Replies (2) \| Respond to of 344

(COMTEX) B: WAVETECH MERGER PARTNER DCI BECOMES GLOBAL TELECOMMUNICAT B: WAVETECH MERGER PARTNER DCI BECOMES GLOBAL TELECOMMUNICATIONS CARRIER TUCSON, Ariz., Dec. 7 /PRNewswire/ -- Wavetech International, Inc. (Nasdaq: ITEL) today announced that DCI Telecommunications, Inc. (OTC Bulletin Board: DCTC) has formed an alliance with IXC Communications, Inc. (Nasdaq: IIXC) that will elevate DCI to the status of a global carrier and support the dramatic growth in DCI's traffic worldwide. On November 6, 1998 Wavetech announced that it had signed a definitive agreement to merge with DCI Telecommunications, in a move to become a larger and profitable company. DCI is an international provider of telecommunications services, including long distance, prepaid telephone cards and Internet services. It has an extensive distribution network throughout North America, Europe and the Far East, owns telephone switching facilities in Canada, the United Kingdom, Spain and Denmark, and has 12 operating facilities serving customers in eight countries. DCI recently reported revenues of $17 million for the first six months of its current fiscal year, versus $5.8 million in the comparable prior-year period. Gerald I. Quinn, President and CEO of Wavetech International stated, "The DCI and IXC agreement is a big step forward for DCI to become a major presence in the dynamic international telecommunications community. The DCI / IXC agreement will have a positive impact on the roll-out of Interpretel products and services post merger." Quinn added, "This alliance is a perfect example of how the planned merger with DCI will benefit Wavetech shareholders." Wavetech International, Inc. is a facilities based telecommunication company. It is the developer and the distributor of Interpretel calling card products and is engaged in the resale of international long distance minutes. The Company's advanced computer/telephony network provides subscribers a single point of access to a broad range of communications and information services. Wavetech markets its services in the United States and Canada under the Interpretel(TM) name and through other customized or co-branded initiatives with other organizations. Forward-looking statements in this news release are made pursuant to the "safe harbor" provisions of federal securities laws. Readers are cautioned that actual results may differ substantially from forward looking statements. Forward-looking statements involve risks and uncertainties including, but not limited to fluctuation of sales, level of customer demand, competitive pressures and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. Many of these risks are beyond the control of the Company. The Company has no obligation to update or revise the information set forth in this news release. SOURCE Wavetech International, Inc. -0- 12/07/98 /CONTACT: Richard Freeman, 520-750-9093 ext. 203, rfreeman@interpretel.com, Investor Relations for Wavetech International, Inc./ /Company News On-Call: prnewswire.com or fax, 800-758-5804, ext. 111429/ (ITEL DCTC IIXC) CO: Wavetech International, Inc.; DCI Telecommunications, Inc.; IXC Communications, Inc. ST: Arizona IN: TLS SU: TNM * end of story *