AIT Wireless Closes $20 Million Contract for Africa Telecom Project.LAKELAND Lakeland, resort city (1990 pop. 70,576), Polk co., central Fla., in the highland region; inc. 1885. It is an important processing and shipping center for a citrus-fruit and phosphate-mining region and is a retail trade center that serves a large area. , Fla. -- AIT Wireless, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). Pink Sheets: ATWL), a leading provider of telephone company central office systems secured a major contract to provide $20 million of equipment and services for an Africa based Telco. In addition to providing both inside and outside plant equipment, the $20 million award calls for AIT to provide significant staffing in project management, engineering, installation and support system development. "This is the type of telecom project we are directing our energies toward. It is in a developing country, with critical needs for infrastructure, allowing us to not only provide the hardware, but more importantly it allows us to export the expertise to build and operate a world class telecom system, which is so important to the developing countries of Africa." commented Ernest Er´nest n. 1. See Earnest. Phillips Phil·lips A trademark used for a screw with a head having two intersecting perpendicular slots and for a screwdriver with a tip shaped to fit into these slots. , President, AIT Wireless, Inc. The agreement calls for the network expansion of General Telephone & Equipment of Lagos, a wire-line carrier currently with 16 central offices across the country. This expansion will allow them to expand their reach to over 9 million potential subscribers. In a related development, last week AIT, consistent with their efforts to diversify diversify To acquire a variety of assets that do not tend to change in value at the same time. To diversify a securities portfolio is to purchase different types of securities in different companies in unrelated industries. their strategic focus, concluded the purchase of a significant oil & gas property in West Virginia West Virginia, E central state of the United States. It is bordered by Pennsylvania and Maryland (N), Virginia (E and S), and Kentucky and, across the Ohio R., Ohio (W). Facts and Figures Area, 24,181 sq mi (62,629 sq km). Pop. . This press release may contain "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of 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. These include, but are not limited to, statements regarding the Company's plans, intentions and expectations. Forward-looking statements are based on the opinions and estimates of management at the time the statements are made. Such statements are inherently subject to a variety of risks, uncertainties and other factors that could cause actual results to differ materially from those expected or implied by the forward-looking statements. These factors include general economic and business conditions nationally, internationally and in the regions and countries in which we operate; demographic changes; technology changes; increased competition; changes in business strategy or development plans; our high leverage and our ability to access capital markets; our ability to attract and retain qualified personnel; existing governmental regulations. Given these factors, investor and analysts should not place undue reliance on forward-looking statements. |
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