$20 Million Financing Commitment Targeted for Shared Technologies Cellular/SATX Merger.

Business/Technology Editors

WETHERSFIELD, Conn.--(BUSINESS WIRE)--Dec. 27, 2000

Shared Technologies Cellular, Inc. (OTC BB:STCL.OB) today announced that SATX, Inc. (OTC BB:SATX.OB) has negotiated a debt financing commitment to secure $20 million, which will allow the two companies to finalize their merger. The final documents are in process and this financing transaction is currently scheduled to close in early January 2001.

Since announcing the intent to merge STCL and SATX, the equity market for technology stocks has been less than favorable. "As this trend became apparent, we modified our plans from raising equity to securing debt financing," said Anthony D. Autorino, STC's chairman and chief executive officer. "We felt that our combined business plan could support a debt transaction, without giving up significant equity and dilution."

"SATX is also in final negotiations for an additional $20 million in debt, contingent upon SEC and shareholder approval of the merger," said Mr. Autorino. "The combination of the two companies will provide for both growth and profitability on a combined basis, greater than as two separate entities. We can now move forward with merger documents, SEC approval, proxy and stockholder approval."

STC wishes to thank all of its employees, vendors, and stockholders for their support in these difficult times.

Headquartered in Wethersfield, Connecticut, STC is a nationwide Integrated Communications Provider (ICP). STC businesses include cellular phone rentals, digital phone sales, prepaid communication services that include cellular, paging, Internet, local and long distance services. STC products and services are marketed directly, and in conjunction with partners including car rental companies, MCI WorldCom, U.S. South Communications, and other private label partners. These programs employ CellEase a universal payment and redemption platform, utilizing technologies provided by Telemac Corporation, US/Intelicom, and others. STC and other service providers use the CellEase platform as a single management and payment system for bundled communications solutions. Visit the company's web sites at www.cellease.com (retail) and www.sharedcellular.com (corporate).

SATX develops and markets a wide range of high-tech wireless communications products for business and consumers. As a technology-holding company, SATX and its subsidiaries, currently own more than 40 patents within the wireless industry, many of which have set industry standards, especially in the area of GPS/2-way communications equipment, making SATX a forerunner in the Telematics industry

Any statements released by STC that are forward-looking are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that forward-looking statements involve risk and uncertainties that may affect STC's business prospects and performance. It is further noted that data referenced in this release may represent partial data, such as sales results, which are subject to supplementation, by other disclosures by the Company. Potential risks and uncertainties may include economic, competitive, governmental, technological, or other factors discussed in STC's filing with the SEC on forms 10K, 10Q, and 8-K.