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Technology Stocks : IDT *(idtc) following this new issue?* -- Ignore unavailable to you. Want to Upgrade?

To: Andrew H who wrote (6967)	4/30/1999 9:04:00 AM
From: Condor	Read Replies (1) \| Respond to of 30916

FYI: (Applies to: FON QWST PSIX AMZN GTCC T IDTC AWRE) $26 Million ISP And Private Network Financing Commitment Received By GTC Telecom; Telecom/Internet Company Expands Infrastructure To Become Tier One ISP COSTA MESA, CALIF. (April 30) BUSINESS WIRE -April 30, 1999--GTC Telecom (OTC BB: GTCC) Friday announced that it has entered into a financing arrangement for $26 million in equipment financing for GTC Telecom's network. Terms of the agreement were not disclosed. The financing will be specifically provided for GTC Telecom's equipment purchases including data communications and internetworking equipment for GTC Telecom's network. "On April 29, 1999, we announced that we entered into a $100 million strategic alliance to begin construction on our own network. As a result the company sought equipment financing to supplement certain construction aspects. We are extremely pleased to receive this financing package. The equipment that GTC will be utilizing is a vital part of the success of our new network. The network will have the capacity to carry over one billion minutes of long distance voice traffic, and will also allow us to become a Tier 1 nationwide ISP," stated Paul Sandhu, president and chief executive officer of GTC Telecom. "With our low per minute new network cost, the potential for GTC long distance revenues are phenomenal. People have been asking us how GTC can offer such quality services at such responsible pricing. Yesterday the company unveiled the key component, and today we are announcing how we are going to finance our network. Now when you look back at how GTC revealed our product offerings, it is apparent how it all fits together, " stated Eric Clemons, chief operating officer of GTC Telecom. "If you follow our progress, it is apparent that our business is developing on schedule. In January we offered low long distance rates that competed with AT&T (NYSE:T) and Sprint (NYSE:FON). We announced in January that we were beginning to set up voice over IP technology which will compete with companies like IDT Corporation (Nasdaq:IDTC) and Qwest Communications (Nasdaq:QWST). In February we introduced our Wireless T1 service similar to PSINet (Nasdaq:PSIX) and our DSL service using ADSL technology similar to Aware Inc. (Nasdaq:AWRE) offer. By being an Internet and Telecom company, GTC combined the two and offers long distance calling cards for sale online in a rollout modeled after Amazon.com (Nasdaq:AMZN)," continued Clemons. The creation of GTC Telecom's private network will make the company one of the first to have a fully operational, nationwide, private voice over IP network. This will allow GTC customers access to toll quality long-distance service that in the past was virtually unattainable with Internet Protocol technology. The network is expected to be completed in Spring 2000. About GTC Telecom Founded in 1997, GTC Telecom is an Telecom/Internet company, providing long distance service to small and medium sized businesses as well as residential customers throughout the United States. GTC Telecom currently offers some of the lowest long distance rates in the industry today, including a rate of 5.9 cents per minute and flat rate programs starting at $29.95 per month for 500 minutes. GTC's long distance service offerings include outbound service, inbound toll-free 800 service, and dedicated private line services for data. GTC's position as an interexchange carrier gives the company the ability to function as a large telecom company but alleviates the overhead, thus allowing GTC to have rates lower than many of their competitors. In addition, GTC offers an array of Internet services, including wireless T1 access. The company also offers long distance calling cards via the Internet on its site, www.ecallingcards.com. For further information visit GTC's Web site at www.gtctelecom.com. Included in this release are "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations reflected in such forward-looking statements will prove to have been correct. The company's actual results could differ materially from those anticipated in the forward-looking statements as a result of certain factors including sales levels, distribution and competition trends and other market factors.