$6.5 Million MAVIS Distribution Agreement in Italy Announced by Carnegie International Corporation.

BALTIMORE--(BUSINESS WIRE)--Dec. 10, 1998--Carnegie International Corporation (OTC: BB CAGI) today announced an agreement to license, market and distribute its proprietary MAVIS(tm) voice-activated platform in Italy through Tiller International of Monte Carlo, Monaco.

Lowell Farkas, Carnegie's president and CEO, said the agreement has a minimum sales requirement of 100 MAVIS units in 1999, 500 in 2000, and 750 in 2001, with an estimated minimum revenue to Carnegie of $6.5 million over the next three years.

In making its third distribution agreement this week, Carnegie said this was an extension of its agreement with Tiller, which will pay Carnegie an additional $3.7 million for a license to market and distribute MAVIS in Russia and other Eastern European countries including Poland, Hungary and the Czech Republic. Tiller is a founding partner together with the Russian Ministry of Telecommunications of Metrosvyaz, which is developing a national wireless local loop network using CDMA technology developed by Qualcomm, Inc. (NASDAQ: QCOM). The current commitment investment is $500 million (U.S.), and is expected to exceed $5 billion over the next 10 years. The operating company for Metrosvyaz is Qualcomm Telecommunications Ltd. (QUALCOMMTE), a joint venture fromed by Qualcomm, Inc., and Tiller International. The Qualcomm share in Qualcomm Telecommunications is held by Leap Wireless International (NASDAQ: LWIN), a company formed by Qualcomm, Inc., to hold its equity interests in operating companies worldwide. Leap Wireless was spun-off by Qualcomm in September of this year.

Farkas also said that terms have been agreed to for exclusive rights to market MAVIS to the 20 million subscribers of Eudora, the world's largest e-mail service provider (ESP).

"There is tremendous excitement over the international distribution agreements announced this week for MAVIS, as well as for its acceptance by the telephony market at home in the U.S.," said Farkas. He said with this agreement and other soon-to-be-announced agreements in place, Carnegie is optimistic that it will exceed its previous projections of earnings of $0.16 basic per share for 1998 as well as for 1999 sales of approximately 10,000 MAVIS units producing some $40 million in revenue.

Introduced earlier this year, MAVIS (for Multi-Language Automated Voice Independent System) is an entirely voice-activated auto attendant that communicates intelligently with the caller. Using advanced, proprietary voice recognition software, it answers incoming calls and, upon the caller's verbal instruction, recognizes the name or department requested and directs the call accordingly. The MAVIS interface is available in English and all foreign languages supported through licensed Lernout & Hauspie (NASDAQ: LHSPF) software and Dialogic CPU telephony cards. It can be used 24 hours a day, 365 days a year, or implemented after hours, on weekends, or when incoming call volume requires support for "only-human" operators. It runs on Windows 98(R) or Windows NT(R), and can be easily modified to meet the needs of any business or organization. MAVIS runs on any existing business telephone system, and supports voice messages, faxes and e-mail.

Carnegie International Corporation (OTC: BB CAGI) is a holding company specializing in Internet, telephony and telecommunications products, services and distribution. Carnegie's primary wholly-owned subsidiaries include: RomNet Support Services, Inc., an Internet, e-business and technical support services company based in Boston; Profit Through Telecommunications (Europe) Ltd. (PTT), a telecommunications software company providing business solutions utilizing proprietary speech recognition, touch tone and bar code responses to send and/or receive information; Talidan, a reseller marketing telephone time and information at discounted rates in Europe, South America, and other emerging markets, ACC Telecom of Columbia, Maryland, a leading reseller of equipment and business telephone systems from Comdial (NASDAQ: CMDL), SONY(R) (NYSE: SNE), and Sprint(R) (NYSE: FON), and Voice Quest, Inc., of Sarasota, Florida, a developer and provider of speech recognition and voice mail technologies and products.. For the first half of fiscal 1998 ended June 30, Carnegie reported total income of $8.9 million and after-tax basic earnings per share of $0.075. For fiscal 1997, Carnegie reported total income of $6.9 million and after-tax basic earnings per share of $0.07.

Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this Press Release (as well as information in oral statements or other written statements made or to be made by Carnegie International Corporation) contain statements that are forward-looking, such as statements relating to the future anticipated direction of the telecommunications industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, and accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of Carnegie International Corporation. These risks and uncertainties included, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, change in Federal or state laws, and market competition factors.

MAVIS is a trademark of Carnegie International Corporation. Other trademarks are properties of their respective owners.