A1 Signs Letter of Intent to Purchase CommonWealth Telecommunications.Business Editors/High-Tech Writers ROCKVILLE, Md.--(BUSINESS WIRE)--May 4, 2000 AWON AWON American World War II Orphans Network Adds Global Long Distance Service To Its Product Offerings A1 Internet.com, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AWON) a full-service solutions provider of Internet development, connectivity, systems integration, and e-commerce services, announced that today it has entered into a letter of intent to purchase all of the outstanding shares of CommonWealth Telecommunications of North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Inc. CommonWealth has several large contracts in place to provide Global long distance services to as many as 5.7 Million people. The transaction is structured to be a tax-free stock swap A stock swap also known as a share swap or equity swap is a business takeover in which the acquiring company uses its own stock to pay for the acquired company. . CommonWealth offers both National and International long distance services and phone cards. A1 Internet Services Inc., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of A1 Internet.com Inc., provides wholesale branded Internet access and net-based services throughout North America to include unlimited dial up connections, personal web space, email services, virtual office products and e-commerce capabilities. In the coming months the company will be adding Voice and Fax Over IP, Video Teleconferencing, and Community Services. "We are very excited to have the opportunity to have such a high quality organization join our team. CommonWealth's products will help A1 reach its goal of becoming a more complete telecommunications provider. The best part of the deal is that the management of CommonWealth is exceptional. Mr. Oliver Frazier will become President of this new subsidiary and join the board of A1," said Bruce Bertman Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of A1 Internet.com Inc. "With this merger we are not only bringing together two great companies, but the new combined offerings we have will put us way beyond our competition. We plan on bringing some very aggressive programs to the market over the next few months," stated Oliver Frazier President and CEO of CommonWealth. A1 provides comprehensive, cost-effective Internet technology solutions to businesses and organizations with a total turnkey approach. Services are designed to enable companies to operate more efficiently by outsourcing their Internet work, communications, e-commerce, and database needs. A1 offers web development, design, connectivity, database applications, distance learning, and information integration programs. Services include web programming, e-commerce, web site hosting, national leased line connections, dial-up, xDSL, and e-mail access. A1 Internet.com Inc.'s ISP (1) See in-system programmable. (2) (Internet Service Provider) An organization that provides access to the Internet. Connection to the user is provided via dial-up, ISDN, cable, DSL and T1/T3 lines. web site is: http://www.a1is.com. The private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 provides a "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by A1): contains statements that are forward-looking, such as statements relating to consummation of the transaction, anticipated future revenues of the companies and success of current product offerings. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of A1 Internet.com Inc. |
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