Alpes Corretora Initiates Coverage of Telemais Telecom with a STRONG BUY.Business Editors SAO Sa´o n. 1. (Zool.) Any marine annelid of the genus Hyalinæcia, especially H. tubicola of Europe, which inhabits a transparent movable tube resembling a quill in color and texture. PAULO, Brazil--(BUSINESS WIRE)--June 20, 2002 Alpes Corretora, a Brazilian-based, full-service investment bank, brokerage and research firm, Thursday initiated coverage of Telemais Telecom Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : TMTU), a telecommunications company See telecom company. with licenses to provide voice, data and Internet services in 69 municipalities in the wealthy southern region of Brazil, with a STRONG BUY and a $15.00 target price. "We believe that given the value of the licenses in its possession, at its recent trading price Trading price The price at which a security is currently selling. of $1.20, shares of Telemais are extremely undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. ," said Sideval Aroni, director of research at Alpes. "Furthermore, we believe that the company is extremely well-positioned to take advantage of the recent depression in the telecommunications sector." For additional information and to receive a copy of the research report, please contact Charles Frewen at Alpes Corretora at +55-11-314-70-700 or Dara Podber, U.S. Investor Relations Investor relations The process by which the corporation communicates with its investors. , at 212/972-2297. About Telemais Telemais is a telecommunication company poised to launch voice, data and Internet services in Brazil using a unique network configuration from a proven supplier that changes the market dynamic for Local Loop service providers. With licenses in 69 municipalities in the southeast and southern region of Brazil, Telemais can provide local, long distance and international call termination Call Termination, also known as voice termination, refers to the handing off or routing of calls from one telephone company, also known as a carrier or provider, to another telephone company. The terminating point is end point. as well as voice and data via wired or wireless connections. Selection of these towns was based on high demand, higher than average disposable income disposable income Portion of an individual's income over which the recipient has complete discretion. To assess disposable income, it is necessary to determine total income, including not only wages and salaries, interest and dividend payments, and business profits, but also and lower than average penetration of telephone service. The Telemais licenses are in the four most southern and wealthiest states of Brazil Brazil is divided into twenty-six estados ("states"; singular estado) and one district, the Distrito Federal ("Federal District") which contains the capital city, BrasÃlia. . About Alpes Corretora Alpes Corretora, member of the Bovespa and BM&F, is a full-service, Brazilian-based, research-oriented investment bank focusing on high-growth companies based in Brazil. Alpes provides a full range of investment banking services, including public and private equity financings Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. , private placements, mergers and acquisitions, and financial advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal . This communication is neither an offer to sell nor a solicitation of an offer to buy any securities mentioned herein. The information contained herein has been obtained from sources that we believe to be reliable, but we do not guarantee its accuracy or completeness. Any opinions expressed herein are statements of our judgment on this date and are subject to change without notice. Alpes Corretora and/or its affiliates may have a position in the securities described herein. Available information supporting this recommendation will be furnished upon request. This report is not directed to, nor intended for distribution to or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would subject Alpes or its affiliates to any registration or licensing requirement within such jurisdiction. Statements in this press release that are not historical facts constitute "forward-looking statements." Any statements contained herein which are not historical facts or which contain the words "anticipate," "believe," "continue," "estimate," "expect," "intend," "may," "should," and similar expressions are intended to identify forward-looking statements. Such statements reflect the current view of the company with respect to future events and are subject to certain risks, uncertainties and assumptions, including, but not limited to, the risk that the company may not be able to implement its growth strategy in the intended manner, including the ability to identify, finance, complete and integrate acquisitions and joint venture opportunities, the ability to successfully restructure under-performing facilities, the ability to meet its capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. , the ability to adjust the conversion rate of certain series of its preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. , risks regarding currently unforeseen competitive pressures and risks affecting the company's industry, such as increased regulatory compliance and changes in regulatory requirements, changes in payor reimbursement levels and the development of additional alternative treatment modalities and technological changes. In addition, the company's business, operations and financial condition are subject to the risks, uncertainties and assumptions, which are described in the company's reports and statements filed from time to time with the Securities and Exchange Commission. Should one or more of those risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein. |
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