To: JGoren who wrote (20940 ) 1/7/1999 3:49:00 PM From: bananawind Respond to of 152472
Harrison Digicom Announces Agreements to Acquire American Cambodia Telcom COSTA MESA, Calif.--(BUSINESS WIRE)--Jan. 7, 1999-- Acquisition Gives Harrison Digicom 25-Year License to Provide CDMA Cellular System Harrison Digicom, Inc. (NASD/OTCBB: HARR) announced today that it has signed agreements to acquire American Cambodia Telcom, Ltd., a Cambodian Company. The acquisition was accomplished for an undisclosed amount of stock and cash. The acquisition gives Harrison Digicom a 25-year license, awarded by the Cambodian government, to provide CDMA cellular systems nationwide. Harrison expects to start shipping equipment to Cambodia for the cellular system by the end of January, 1999. John W. Bush, President and Chief Executive Officer of Harrison, said that American Cambodia Telcom has selected QualComm as its vendor of choice for the CDMA market. "This acquisition is very important for Harrison, because it now gives us a 1900 PCS band, with the full array of products in voice, data, video and paging for the nation of Cambodia." Paul Robert Carr, President of American Cambodia Telcom, said, "Harrison Digicom's new organization and long term plan made them our best choice for a strong strategic partner. We are excited to be part of the Harrison team and look forward to providing Cambodia with the operational talent and financial capabilities that Harrison and QualComm bring to the table." Harrison Digicom, Inc. has been in operation since 1995 under the name Harrison Industries, Inc. The company has continued to focus on international communications opportunities. AirTel USA is the marketing arm of Harrison Digicom, Inc. in the wireless industry, with special focus in the CDMA marketplace. Saigon ETMC is the manufacturing arm of Harrison that has been awarded a 49 year license in Vietnam for the production of electronic equipment. Harrison Digicom, Inc. is the holding company for the HARR Group of Companies. CONTACT: Martin E. Janis & Company Public Relations Hal Schweig, 312/943-1100