AMNEX awarded contract to provide network services to major telecommunications company.NEW YORK--(BUSINESS WIRE)--Feb. 1, 1995--AMNEX Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on Symbol: AMXI) announced today that its operating subsidiary An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. has signed a contract to provide a wide variety of network services to a major telecommunications company See telecom company. . These services will include Direct Dial 1+, 800 services, and shared access. Peter M. Izzo, Jr., AMNEX's Chief Executive Officer stated, "This contract will allow AMNEX's new customer to take full advantage of AMNEX's 'open architecture' network platform, thereby lowering its transmission costs by eliminating fixed network and switching fees." AMNEX will benefit through the diversification of its revenue stream, and an increase in its profit margins as a result of the more efficient use of its network. This is because the traffic patterns associated with the customer's enhanced services, such as debit card debit card, card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machines for withdrawing cash from the user's checking account. and international callback, vary from those of its existing core business. "We envision AMNEX as the choice "outsource" provider of network services to the telecommunications industry," Izzo said. Kenneth G. Baritz, chairman, added, "In both principle and magnitude, this relationship is unique in that it allows each organization to focus on what it does best. For AMNEX, that means engineering, technology, and network services. This contract further solidifies AMNEX's position among the leading providers of telecommunications services." AMNEX Inc. is a long distance information and operator service provider, offering a broad spectrum of standard and enhanced calling features and information-delivery capabilities designed to meet the needs of telephone users who are away from the home or office. AMNEX Inc.'s goal is to deliver the most enhanced telecommunications and information services See Information Systems. to the growing number of sophisticated business users, thereby optimizing their efficiency from virtually any telephone. CONTACT: AMNEX Inc., 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 Kenneth G. Baritz, 212/867-0166 |
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