AmTec and UIH Complete Definitive Agreement to Form Strategic Partnership.

NEW YORK--(BUSINESS WIRE)--Jan. 6, 1999--

Far-Reaching Partnership to Develop AmTec's China Telecom Business

AmTec (ASE: ATC) and United International Holdings, Inc. (UIH) (Nasdaq: UIHIA) announced today the completion of a definitive agreement to form a strategic partnership to develop telecommunications business in China.

This follows a similar agreement with Global TeleSystems Group (GTS) (Nasdaq and Easdaq: GTSG) that was completed several months ago. Under the UIH agreement, AmTec will expand its business in China into the cable television market, and UIH will become AmTec's largest shareholder. The Company will also add Gene Schneider, Chairman, CEO and Founder of UIH, and Michael Fries, President of UIH and UIH Asia/Pacific, to its Board of Directors.

The far-reaching agreement with UIH calls for AmTec to acquire a 49% interest in Hunan International TV Communications Company (HITC) in exchange for $12 million of AmTec convertible preferred stock. UIH will hold co-investment rights relating to AmTec's Chinese telecommunications business and will hold a three year option, exercisable at $3.00 per share, to increase its fully diluted ownership of AmTec to 25%. UIH has also committed to providing AmTec with assistance in raising financing and in technical and managerial support through a technical assistance agreement.

HITC is a Chinese joint venture with the Broadcasting Bureau of Hunan and participates in a digital broadcasting network that transmits television programming to cable television operators in Hunan Province (population: 64 million), reaching a current subscriber base of 255,000. It also shares in the network's advertising revenue.

Joseph R. Wright, Chairman and CEO of AmTec, commented, "This partnership with UIH will represent the achievement of several important strategic objectives for AmTec. First, by partnering with UIH, one of the largest international telecommunication operators in the world, AmTec will participate in the world's largest cable TV and telecom market through revenue-sharing agreements with the dominant operator of cable TV services in Hunan Province. Second, UIH has agreed to support our future financing efforts, provide valuable technical and managerial support in China, and bring additional telecom experience to our Board of Directors."

Wright continued, "This agreement, along with the earlier announced agreement with GTS, solidly establishes AmTec as a company operating in China's three most attractive telecommunications services markets: cellular, cable TV and data networking services. Now that we have reached this important milestone and are expanding rapidly in our operations in China, we plan to form partnerships with additional multinational telecommunications companies to become an even larger participant in the fastest growing large telecom market in the world."

UIH is a leading provider of voice, video, data and programming services outside of the United States. UIH has ownership interests in and operates in 20 countries throughout the world, covering approximately 12.0 million homes in franchise areas, 9.8 million homes passed and 4.4 million video subscribers (including announced transactions) 100,000 telephony access lines and 12,700 broadband data subscribers. Additionally, UIH programming services reach approximately 5.2 million subscribers worldwide.

AmTec, Inc. is a telecommunications company with operations in the People's Republic of China. AmTec is developing 10 cellular networks in Hebei Province (population: 64 million) in partnership with China Unicom (one of China's two licensed cellular telephone operators), NTT International, Itochu, and the Hebei Provincial Government. Six networks are operational with over 31,000 subscribers, and a seventh network is expected to be launched in early 1999. With the closing of this UIH agreement, AmTec will also provide cable television programming in Hunan Province (population: 64 million) and data networking services throughout China as a result of combining with the Chinese telecom operations of GTS, announced late last year.

Note: Forward-looking statements in this press release are necessarily subject to risks and uncertainties that may affect the accuracy of such statements. Such risks may include any political instability in China, any delays in construction of networks, and market acceptance of and demand for the Company's products. For a discussion of such risks, please refer to the Company's Form 10(k) filed with the Securities Exchange Commission for the fiscal year ending March 31, 1998. The Company undertakes no obligation to update such factors or to publicly announce the result of any revisions to the forward-looking statements contained herein.