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Microcap & Penny Stocks : ADGI - American Diversified Group -- Ignore unavailable to you. Want to Upgrade?

To: Hubert Few who wrote (7665)	2/2/1999 12:16:00 PM
From: Micro-Selector	Read Replies (1) \| Respond to of 9569

* NEWS OUT * Tuesday February 2, 11:48 am Eastern Time Company Press Release ADGI's Internet Affiliate Announces Expanded Relationship with Florida Export Finance Corporation HICKORY, N.C.--(BUSINESS WIRE)--Feb. 2, 1999--American Diversified Group (Nasdaq BB: ADGI - news; ''ADGI'') announced today that its Internet telephony affiliate, Global Transmedia Communications Corp. (''GTCC''), Aventura, Fla. has expanded its relationship with Florida Export Finance Corp. (''FEFC'') and closed on its first financing facility. To tighten the working relationship between the two entities, FEFC has obtained a minority equity interest ownership in GTCC and GTCC has closed on FEFC financing supporting the Internet Telephony services currently being offered in the country of Colombia. FEFC is owned by the State of Florida and was created with a mandate to support the export of goods and services from the State of Florida. Through FEFC's participation in the city/state program offered by the Export Import Bank of the United States, ADGI's affiliate has the ability to arrange financing through FEFC for its foreign affiliates of up to $500,000 and can obtain EXIMBANK loan guarantees of up to $1 Million. GTCC is delighted with the expanded role taken by the FEFC. GTCC considers its relationship with FEFC to be the cornerstone in its plans for continued expansion in the international marketplace. The financing facilities and loan guarantees available through FEFC provides GTCC with the financing capabilities to support its foreign affiliates in developed markets and will assist the GTCC Internet telephony network expand into new markets. In the international telephony market, service providers must have the ability to continue to expand their networks into new areas to attract the greatest number of subscribers. The latest technology must go hand-in-hand with attractive financing in order to deliver services around the world. For further information, ADGI has a Web Page at www.adgrpinc.com and E-Mail address adgi@abts.net. Executive Offices: 110 N. Center St., Suite 202, Hickory, N.C. 28601 - Tel: 828/322-2044 - Fax 828/322-3798 NY Investor Relations: 45 Rockefeller Plaza, Suite 2000, NY, NY 10111 - Tel: 212/332-5009 - Fax 212/332-3249 Global Transmedia Communications Corp. - Tel: 305/931-4232 Except for the historical information herein, the matters discussed in this press release includes forward-looking statements that may involve a number of risks and uncertainties. Actual results may vary based upon a number of factors, including, but not limited to, risks in product and technology development, market acceptance of new products and continuing demand, the impact of competitive products and pricing, changing economic conditions and other risk factors contained in the company's most recent annual report and other filings with the Securities and Exchange Commission. Contact: American Diversified Group, Hickory Dr. Jerrold Hinton, 828/322-2044 828/322-3798 (fax) Cellular Phone: 828/381-4366 or NY Investor Relations, New York 212/332-5009