Affordable Telecommunications Corrects and Replaces Previous Announcement, BW1487, TX-AFFORDABLE-TELECOM.Business/Technology Editors NOTE: The following news release replaces and corrects the previous Affordable Telecommunications news release, which ran earlier Monday, 4/17/00 at 10:35 AM ET on Business Wire, BW1487 (TX-AFFORDABLE-TELECOM) HOUSTON--(BUSINESS WIRE)--April 17, 2000 Affordable Telecommunications Technology to Acquire Cameras, Etc. Affordable Telecommunications Technology Corp. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: ATTP ATTP Appalachian-Turkish Trade Project ATTP Apprenticeship and Traineeship Training Program (NSW, Australia) ATTP Advanced Technology Transition Process aTTP Acute Thrombotic Thrombocytopenic Purpura ) today announced that it should close on its letter of intent to acquire Cameras, Etc., a Texas-based company specializing in marketing digital cameras and accessories to the oil, gas and medical industries, by the end of April 2000. Affordable Telecommunications Technology Corp. (ATTC ATTC Addiction Technology Transfer Center ATTC Aboriginal Tourism Team Canada (now Aboriginal Tourism Canada) ATTC Aviation Technical Test Center ATTC Advanced Television Test Center ATTC Austrian Traffic Telematics Cluster ) previously announced it signed a letter of intent to acquire the assets of Intergo Company, doing business as Cameras, Etc., on March 1, 2000. Steven H. Bethke, President and Chief Executive Officer of ATTC stated, "Cameras, Etc. provides advanced mobile communications which are strategic fit with our two-way wireless data network. By acquiring Cameras, Etc., we are poised to introduce third generation wireless products, including digital imaging services. In addition, Cameras, Etc. adds a large customer base and enhances our ability to enter new markets, such as the medical field." President of Cameras, Etc. Kim T. Peterson stated, "Affordable Technology Corp. will greatly expand the applications of our digital imaging services and will allow Cameras, Etc. to move toward the forefront of the wireless telecommunications industry." Cameras, Etc. is managed by Norman George, the CFO See Chief Financial Officer. of ATTC, and Mr. Peterson is a principal shareholder of ATTC. Affordable will acquire 100% beneficial right title and interest in all the issued and outstanding shares of Cameras, Etc. in exchange for issuing the company 400,000 restricted shares of Affordable common stock. About Cameras, Etc. Based in Texas, Intergo Company, d.b.a., Cameras, Etc. markets digital imaging products, cameras, bulk film and related services that enable companies to take and send images over a wireless network, and analyze the images remotely on a computer. Cameras, Etc. markets to companies in the oil and gas industries, in addition to medical institutions. About Affordable Telecommunications Technology Corp. Affordable Telecommunications Technology Corp. operates a two-way data network covering the greater Houston Houston–Sugar Land–Baytown is a 10-county metropolitan area defined by the Office of Management and Budget. It is located along the Gulf Coast region in the U.S. state of Texas. Metropolitan area, and is developing Automatic Meter Reading Automatic meter reading, or AMR, is the technology of automatically collecting data from water meter or energy metering devices (water, gas, electric) and transferring that data to a central database for billing and/or analyzing. (AMR (1) (Adaptive Multi-Rate) A variable rate speech codec selected by the 3GPP for the 3G evolution of the GSM cellphone system (WCDMA). Using the Algebraic CELP (ACELP) compression technology, AMR provides toll quality sound at transmission rates from 4.75 to 12. ) services. The Company is also a reseller of wireless telecommunications products and services, which it markets directly and at the retail level under the name The Wireless Store. The Wireless Store sells pre-paid and post-paid products and services primarily in the Texas Gulf Coast area. 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. in this release are made pursuant to the "safe harbor 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. " provisions 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. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. For more information, see www.thewirelessstore.net |
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