Note from Chris...this does NOT mean they have a listing with NASDAQ-AMEX, just a step towards that goal...they are still BB as of today...
Tuesday December 29, 9:30 am Eastern Time
Company Press Release
Carnegie International Now a Fully Reporting Company
President & CEO Farkas says MAVIS Distribution through ALLTEL
Should Benefit from Increased Media Coverage of Voice Recognition
BALTIMORE--(BUSINESS WIRE)--Dec. 29, 1998-- Carnegie International Corporation
(OTC: BB CAGI) announced that effective yesterday, December 28, it is a fully
reporting company under the Securities and Exchange Act of 1934. A holding
company specializing in Internet, telephony and telecommunications products,
services and distribution, Carnegie had filed Form 10-SB with the Securities and Exchange Commission on October
28.
Lowell Farkas, president and CEO of Carnegie, said the company will meet SEC requirements including filings of
annual 10-K and quarterly 10-Q statements, as well as future filings available through the SEC and its electronic
EDGAR Database.
Voice Recognition Gaining in Popularity, Exposure
''This is the most exciting time in Carnegie history,'' Farkas said. ''We are growing in size, stature and reach, and
voice recognition is gaining in popularity and exposure,'' he said, noting coverage of the technology by USA Today's
Money Section yesterday and a recent major article in the Chicago Tribune. ''As voice recognition continues to
emerge as a leading 21st Century technology,'' he said, ''Carnegie is more than ready. We have a leading edge
product in our MAVIS™ (for Multi-Language Automated Voice Independent System), the premier voice-activated auto
attendant and voice mail/message system, and we have already secured national and varied international distribution
channels.''
MAVIS communicates intelligently with callers via advanced, proprietary voice recognition software, and works with
virtually any business telephone system. The MAVIS interface is available in English and all foreign languages
supported through licensed Lernout & Hauspie (Nasdaq: LHSPF - news) software and Dialogic (Nasdaq: DLGC -
news) CPU telephony cards. MAVIS in the Marketplace
Last week Carnegie announced a definitive supply agreement with ALLTEL Supply, a business unit of ALLTEL (NYSE:
AT - news) for domestic distribution of MAVIS, enabling ALLTEL Supply to distribute MAVIS to its affiliates and
non-affiliates in the U.S. The agreement added more than 500 Comdial (Nasdaq: CMDL - news) dealers to Carnegie's
U.S. sales channel. ALLTEL is a major distributor of Lucent (NYSE: LU - news), Panasonic and Comdial
telecommunications equipment.
Earlier this month, Carnegie announced agreements to license, market and distribute MAVIS in Russia and other
Eastern European countries including Poland, Hungary and the Czech Republic, and separate agreements in Italy and
Switzerland.
All Elements in Place for 1999
''As a fully reporting company, the financial community at large and institutional investors in particular will see
Carnegie in a new and brighter light,'' said Farkas. ''And we have a proven product in MAVIS, with distribution by
ALLTEL that should benefit from media exposure of voice recognition. All elements are in place for Carnegie to reach
our 1999 goal of 10,000 MAVIS units sold and $40 million in revenues.''
Carnegie International Corporation (OTC: BB CAGI) is a holding company specializing in Internet, telephony and
telecommunications products, services and distribution. Carnegie's primary wholly-owned subsidiaries include:
RomNet Support Services, Inc., an Internet, e-business and technical support services company based in Boston;
Profit Through Telecommunications (Europe) Ltd. (PTT), a telecommunications software company providing business
solutions utilizing proprietary speech recognition, touch tone and bar code responses to send and/or receive
information; Talidan, a reseller marketing telephone time and information at discounted rates in Europe, South
America, and other emerging markets, ACC Telecom of Columbia, Maryland, a leading reseller of equipment and
business telephone systems from Comdial, SONY® (NYSE: SNE - news), and Sprint® (NYSE: FON - news), and
Voice Quest, Inc., of Sarasota, Florida, a developer and provider of speech recognition and voice mail technologies
and products. For the first half of fiscal 1998 ended June 30, Carnegie reported total income of $8.9 million and
after-tax basic earnings per share of $0.075. For fiscal 1997, Carnegie reported total income of $6.9 million and
after-tax basic earnings per share of $0.07.
Private Securities Litigation Reform Act of 1995 provides a ''safe harbor'' for forward-looking statements. Certain
information included in this Press Release (as well as information in oral statements or other written statements made
or to be made by Carnegie International Corporation) contain statements that are forward-looking, such as statements
relating to the future anticipated direction of the telecommunications industry, plans for future expansion, various
business development activities, planned capital expenditures, future funding sources, anticipated sales growth, and
potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly
affect anticipated results in the future, and accordingly, such results may differ from those expressed in any
forward-looking statements made by or on behalf of Carnegie International Corporation. These risks and uncertainties
included, but are not limited to, those relating to development and expansion activities, dependence on existing
management, financing activities, domestic and global economic conditions, change in Federal or state laws, and
market competition factors.
MAVIS is a trademark of Carnegie International Corporation. Other trademarks are properties of their respective
owners.
Contact:
Carnegie International Corporation
Lowell Farkas
+(410) 785-7400
lfarkas@carnegieint.com
or
The Kaminer Group
David A. Kaminer
+(914) 684-1934
dkaminer@kamgrp.com
More Quotes
and News:
Alltel Corp (NYSE:AT - news)
Carnegie International Corp (Colorado) (OTC BB:CAGI - news)
Comdial Corp (Nasdaq:CMDL - news)
Dialogic Corp (Nasdaq:DLGC - news)
Lernout En Hauspie Speech Products (Nasdaq:LHSPF - news)
Lucent Technologies Inc (NYSE:LU - news)
Sony Corp (NYSE:SNE - news)
Sprint Corp (NYSE:FON - news)
Related News Categories: computers, internet, ISDEX, networking, retail, software, telecom
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