ADGI's Internet Affiliate Announces Revenue Agreement.HICKORY Hickory, city, United States Hickory, city (1990 pop. 28,301), Burke and Catawba counties, W N.C., at the foot of the Blue Ridge Mts.; inc. 1870. It is a processing and trade center for an abundant agricultural region (grain, soybeans, poultry, hogs, , N.C.--(BUSINESS WIRE)--Nov. 12, 1998--American Diversified Group (Nasdaq BB:ADGI) announced Thursday that its Internet telephony Another term for IP telephony and VoIP. In the late 1990s, some people made a distinction between Internet Telephony and VoIP: Internet telephony referred to voice over the public Internet, while VoIP referred to voice over private IP networks. affiliate, Global Transmedia Communications Corp. ("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 signed an agreement with the Anditel Group of Companies ("Group") to provide GTCNetLink in Colombia, 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. . GTCNetLink is a private subscriber-based calling network. Under terms of the agreement the Group has committed to purchase calling minutes from GTCC for resale to major multinational corporations
Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. who will re-market the Internet calling See Internet telephony. minutes to their subscribers. This agreement is a tremendous breakthrough for GTCC as the terms require guaranteed purchase of calling minutes each month in each city GTCNetLink services will be provided. Sales have commenced in Bogota, the hub of international business in Colombia and accounts for over 55% of international calling from Colombia. Annual outbound international calling from Colombia accounts for over 90 million minutes per year and it is estimated that inbound calling is three times that amount. The agreement calls for each GTCNetLink gateway to purchase a minimum of 360,000 calling minutes per server. Within the first 60 days it is estimated the annual calling rate should increase to over 900,000 calling minutes per server. Each GTCNetLink server is capable of servicing up to 1.2 million calling minutes. Under ADGI's present agreement with GTCC, it is anticipated that income to ADGI will commence by the beginning of December 1998 and GTCC projects that the minimum guaranteed income per server of $82,000 increasing to $198,000 based on the 900,000 minutes calling rate. GTCC works with and is in regular communication with the major multi-national telecommunication companies, some of which have expressed interests in a joint venture or other working relationship. For further information, ADGI's Broadcast Fax System provides ADGI information (releases, news letters, shareholder updates) and is accessible to all ADGI shareholders via fax). ADGI has a Web Page at www.adgrpinc.com and E-Mail address See Internet address. e-mail address - electronic mail address adgi@abts.net. Except for the historical information herein, the matters discussed in this press release include forward-looking statements that may involve a number of risks and uncertainties. Actual results may vary based upon a number of factors, including, but not limited to, risks in product and technology development, market acceptance of new products and continuing demand, the impact of competitive products and pricing, changing economic conditions and other risk factors contained in the company's most recent annual report and other filings with the Securities and Exchange Commission. |
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