AvTel to Change Name to NetLojix Communications, Inc.; Change to be Effective September 15; New Name Reflects Enterprise Network Solutions Business.SANTA BARBARA Santa Barbara (săn'tə bär`brə, –bərə), city (1990 pop. 85,571), seat of Santa Barbara co., S Calif., on the Pacific Ocean; inc. 1850. , Calif.--(BUSINESS WIRE)--Aug. 25, 1999-- AvTel Communications, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : AVCO), a single-source provider of integrated voice, data and Internet services, today announced its name will change to NetLojix Communications, Inc. effective Wednesday, September 15, 1999. The new NASDAQ trading symbol Trading symbol See: Ticker symbol for the Company will be NETX. NetLojix was chosen to reflect the Company's focus on providing enterprise-wide network solutions including communications services and IT support. "We made a significant decision in July to exit the residential long distance business and focus exclusively on corporate data and voice networks," stated Anthony E. Papa, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of AvTel Communications. "NetLojix better reflects our business and our mission of designing, building and managing a business's total data and voice network. The NetLojix business has been growing substantially. In the quarter ended March 31, 1999, this segment of the Company reported a 100% increase in revenues over the prior year." "Our plans for NetLojix include expanding our core competencies in carrier transport and IT Support into additional markets. We are a network services partner providing turnkey enterprise-wide solutions for the business community. We believe our communications services combined with our LAN/WAN LAN/WAN Local Area Network/Wide Area Network engineering capabilities creates a strong value proposition to our customers and significantly differentiates us from the traditional players," added Mr. Papa. AvTel Communications, soon to be NetLojix Communications, Inc. is a single source provider of Enterprise Network Solutions integrating data, voice and Internet communications services and IT support. The Company markets and sells a broad range of advanced network services including network design, installation, management and service; eBusiness solutions; and remote network monitoring. The Company provides a host of bandwidth services including dedicated voice and data connectivity, frame relay, ADSL See DSL. ADSL - Asymmetric Digital Subscriber Line , ISDN ISDN in full Integrated Services Digital Network Digital telecommunications network that operates over standard copper telephone wires or other media. , as well as dedicated and dial-up Internet access See dial-up. through more than 700 points-of-presence (POPs). For further information, please visit the Company's Web site at www.avtel.com. All statements in this news release other than statements of historical fact are forward-looking statements that involve substantial risks and uncertainties. Reference is made to the Company's Annual Report on Form 10-K/A for the year ended Dec. 31, 1998, and to the Company's other reports filed with the Securities and Exchange Commission for a discussion of such risks and uncertainties and other factors that may have material effect on the Company's business. |
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