American Communications to Acquire Swift Telecommunications, Inc.Business Editors SARASOTA, Fla.--(BUSINESS WIRE)--Dec. 14, 2000 American Communications Enterprises, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ACEN ACEN Anglican Communion Environmental Network ACEN Assembly of Captive European Nations ) today announced that it has finalized See finalization. a Note Purchase Agreement with Swift Telecommunications, Inc. ("Swift"), which provides for the eventual acquisition of Swift by ACEN. The Note Purchase Agreement will be included in ACEN's 8-K to be filed with the Securities and Exchange Commission (SEC). Swift Telecommunications, Inc. is a Data, Outsource and Facility Management Company headquartered in Long Island, 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 with sales offices and switching facilities in New York and in 46 countries overseas. With the steady decline in the telex and fax business, most Administrations and Carriers continue to pay large overhead costs overhead costs see fixed costs. in running their fax and telex switch and telex network. Swift Telecommunications was formed to acquire, outsource and/or perform facilities management The management of a user's computer installation by an outside organization. All operations including systems, programming and the datacenter can be performed by the facilities management organization on the user's premises. for the telex, fax and data business of PTTs and other carriers around the world. Swift Telecommunications has already completed acquisitions of:
-- Telemedia Networks, Inc. ("TMI"), a former division of Telecom Italia
-- GN Comtext Network in the United Kingdom now Swift Comtext Ltd.
George Abi Zeid, Chairman and Chief Executive Officer of Swift Telecommunications, stated that, "With the signing of this Agreement, Swift Telecommunications can now begin the process of integrating these acquisitions and utilizing the strengths and assets of each entity to expand and improve an already large worldwide network. Abi Zeid will become American Communications Enterprises, Inc.'s Chairman of the Board and Chief Executive Officer. ACEN officials indicated that "they were extremely pleased with the execution of the business model to date, and that they continue to work diligently to complete significant transactions to the benefit of the Company, shareholders and investors." Please contact Steve Wagoner at 941/923-1949 for a free investor package. Certain statements included in this press release 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 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. Actual results could differ materially from such statements expressed or implied herein. Factors that might cause such a difference include, among others, competitive pressures, the company's ability to successfully implement traffic, constantly changing technology, associated with recently formed entities. As a result, this press release should be read in conjunction with the Company's periodic filings with the SEC. |
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