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Technology Stocks : ITELD "Wavetech's Merger with DCTC" -- Ignore unavailable to you. Want to Upgrade?

To: Dorine Essey who wrote (2)	2/24/1999 8:25:00 PM
From: Grupo Brad	Read Replies (1) \| Respond to of 6

To: +Country Tyme (14220 ) From: +Grupo Brad Wednesday, Feb 24 1999 9:47AM ET Reply # of 14295 DCI Achieves CLEC Status in Spain Stratford, Conn., Feb. 24, 1999/PRNewswire/ -- DCI Telecommunications, Inc. (OTC Bulletin Board: DCTC) today announced it will begin operating as a Competitive Local Exchange Carrier (CLEC) throughout Spain as a result of an agreement with Retevision. The agreement allows DCI to offer its telecommunications services utilizing Retevision's Government license as a CLEC. In effect, DCI will become an alternative local carrier to Telefonica de Espana. DCI customers will be able to place phone calls anywhere within Spain at competitive, and in some cases, significantly lower rates than currently obtainable from the other carriers. Retevision, based in Madrid, is the national cable television service provider in Spain and has the capability to provide service throughout the country. By establishing a network of wireless transmission facilities, over which its signal can be broadcast countrywide, it has implemented a creative solution to the costly process of running wire across the mountainous topography which is prevalent throughout much of Spain. Retevision's wireless network has been modified to allow DCI to seamlessly transmit its telecommunications services. Currently, Retevision is installing wireless transmission equipment within DCI's new Madrid office. The result is an inexpensive alternative to the "hard-wired" solutions. This affiliation is indicative of the growing industry trend toward packaging cable and telecommunication services in order to achieve economies of scale. In the United States, AT&T recently announced it will purchase TCI Cablevision to gain low-cost regional bandwidth capability and access to a large local customer base. Back in January, Spain became the latest European country to deregulate its telecommunications industry. DCI has been building its infrastructure in Spain, over the past year, to be in a position to take advantage of this deregulation. DCI has been targeting Spain as an integral part of its European expansion plan, as the opportunity for market growth and profit potential is great within this region. With a population of more than 39 million, Spain also attracts more than 40 million annual tourists. The current annual telecommunications market in Spain is nearly $10 billion. DCI is anticipating annual traffic in excess of $100 million for its CLEC business in Spain. DCI is in the final stages of selecting a supplier for three additional switches to be deployed in Madrid, London and New York. Due to the complexity and expense involved, additional institutions have been invited to submit proposals. At present, the proposals are being reviewed by management's analysts. Although this has delayed the deployment of these switches, it has become apparent from the additional proposals submitted that considerable cost savings as well as technological flexibility will be gained through this process. Management wants to avoid entering into any deal that would act as a drag on the future earnings capability of the Company. It is in its best interests to continue negotiations until a suitable transaction or series of transactions can be finalized. Joseph J. Murphy, DCI's president and CEO, also indicated that negotiations for additional financing is underway to acquire additional switches, retire the outstanding convertible preferred issue, as well as provide operating capital to assist this phase of the Company's growth plan. This release does not constitute an end to the Company's quiet period which was announced on December 18, 1998. DCI Telecommunications is a global provider of telecommunications services, including long distance, prepaid phone cards and Internet services. It has an extensive distribution network throughout North America, Europe and the Far East. The Company owns and operates switching facilities in Canada, the United Kingdom, Spain and Denmark, with facilities planned for the United States in the near future. There are currently 10 operating facilities worldwide, serving customers in eight countries. DCI recently announced a planned merger with Wavetech International (Nasdaq: ITEL) which is expected to take place sometime in April, 1999. DCI recently reported sales of $28.1 million for the nine months ended December 31, 1998 versus $8 million in the comparable prior-year period. DCI trades on the OTC Bulletin Board under the symbol DCTC. Additional information can be obtained directly from the company or its web site at dcic.com. ##### /Contact: Craig K. Murphy Director, Investor Relations DCI Telecommunications, Inc., 203-380-0910 ext. 3108, email InvestorRelations@dcic.com, www.dcic.com/ Next Previous \| Previous \| Next \| Respond \| View 3 replies to this message Quotes - News - Discussion - $5 and Under View SubjectMarks Bookmark this Subject DCI TELECOMMUNICATIONS INC (OTC: DCTC) Time: 3:59PM Last Trade 2 11/32 Change + 11/32 (+17.15%) Bid 2 9/32 Ask 2 3/8 Volume 0252,1000 Prev.Close 2 00 Open 2 1/8 Day Range 2 3/32 - 2 11/32 Last Tick 0-0 Avg.Volume 0165,2000 52-week range: 0.670 - 4 5/16 Discussion \| People \| MetaCrawler Subject Titles Only Full-Text This Subject Only Send questions and feedback to webmistress@techstocks.com Terms of Use