Able Telcom Releases Additional Information on MFS Acquisition.WEST PALM BEACh, Fla.--(BUSINESS WIRE)--Aug. 18, 1998--Able Telcom Holding Corp. (NASDAQ-ABTE) today announced that the remaining balance due on its note to WorldCom for the acquisition of MFS MFS Medicare fee schedule Network Technologies (MFSNT) is approximately $49 million, with additional potential downward adjustments based on the company's continuing review of operating results prior to July 2, 1998. Able announced last week that it has already paid WorldCom $38.6 million towards the MFSNT acquisition. Able Telcom Holding Corp., through its subsidiaries, is one of the leading service companies in planning, developing, building and maintaining the communications infrastructure for an array of applications, including telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. , traffic management and cable television systems designed to meet the world's expanding information requirements The information needed to support a business or other activity. Systems analysts turn information requirements (the what and when) into functional specifications (the how) of an information system. . Statements about the company's future expectations, including future revenue and earnings, and all other financial statements in this press release other than historical facts are "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 Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in 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. The company intends that such forward-looking statements be subject to the safe harbors 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. created thereby. Since these statements (future operational results and sales) involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors affecting the company's operations, markets and profitability, the company's actual results could differ materially from expected results.
CONTACT: Eskew & Associates,
Scott Eskew, 561/681-4858
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