ADGI's Affiliate Launches New Calling Network in Europe.HICKORY, N.C.--(BUSINESS WIRE)--Sept. 14, 1999-- American Diversified Group, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: ADGI) announced today that its telecommunications affiliate Global Transmedia Communications Corporation ("GTCC GTCC Greater Than Class C (waste) GTCC Gas Turbine Combined-Cycle (power plant) GTCC Government Travel Charge Card GTCC General Trading & Contracting Company ") has entered into a relationship with World Telecom Labs ("WTL WTL Windows Template Library WTL Where's the Love (song title) WTL Wireless Transport Layer WTL Way Truth Life WTL Watch The Language WTL Water Tender Ladder (fire appliances/trucks) ") to immediately begin deploying its European calling network. ADGI's affiliate will be deploying WTL's carrier-grade INX INX Information Exchange INX Increment Index Register INX Ion Exchange INX Internet Exchange INX Increment Register Pair switch to expand its VOIP (Voice Over IP) A digital telephone service that uses the public Internet as well as private backbones instead of the traditional telephone network. Many companies, including Vonage, 8x8 and AT&T (CallVantage), typically offer calling within the country for a network throughout the lucrative European market. Europe is the last piece in the global jigsaw for GTCC, which already has a strong presence in South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. , and in Asia through its bandwidth provider. ADGI's President, Dr. Jerrold Hinton, commented, "the European market has been a target for our future growth because of its vast calling markets and because of the agreement reached with WTL GTCC has been able to accelerate these future plans to the present. Revenue growth opportunities will be immediate as GTCC is projecting initial calling services to begin by October 1999. Industry experts have stated that the opportunities in Europe are even larger and more profitable than the telecommunications market in the United States. Currently, Europe offers a $200 billion market which is $50 billion larger than the U.S. Deregulation Deregulation The reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry. Notes: Traditional areas that have been deregulated are the telephone and airline industries. in Europe began about two years ago and it is proceeding much more rapidly than what took place in the U.S. World Telecom Labs designs and manufactures innovative computer telephony switching platforms for telecommunications carriers and ISPs worldwide. The company has been manufacturing and deploying its equipment throughout Europe and to both the Middle East and Africa over the past two years. WTL has offices in the U.S. (New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of ), Belgium, the United Kingdom, Netherlands and India. See www.wtlusa.com The UNIX-based INX interconnects with SS7 signaling and allows the mixing of switching, VOIP, SS7 control and other functions, all on a single chassis. WTI WTI West Texas Intermediate WTI Western Transportation Institute (Montana State University) WTI World Tribunal on Iraq WTI With The Idea (used in chess to point to the idea behind a specific move) will not only supply the switching equipment, it will provide points of presence, interconnecting GTCC with carriers around Europe. GTCC's President, Vivian Manevich, noted, "The consolidated European market for calling minutes represents more volume than the U.S. and our partnership with WTL is an excellent opportunity, from a quality, value-added service and price perspective." Alexandre Brown, 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 WTL's North America office, stated, "As telcos around the world migrate to more flexible, cost-efficient architectures for lucrative voice services, we believe the INX represents a highly attractive solution both for the incumbents and the `next generation' carriers. GTCC is a fine example of how an emerging player in the VOIP arena can quickly expand its business globally through our low-cost, low maintenance switching solution." Executive Offices: 110 N. Center Street, Suite 202, Hickory, NC 28601 (828) 322-2044 (828) 322-3798 (fax) Contact: Jerrold R. Hinton, Ph.D., President Global Transmedia Communications Corporation (305) 579-9922 Certain statements in this release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Act of 1995. The words "forecast", "project", "intent", "expect", "should", "would", and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (finance or operating) or achievements to differ from the future results, performance (finance or operating) or achievements expressed or implied by such forward-looking statements. The above factors are more fully discussed in the Company's SEC filings. |
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