BBAN Executes Agreements To Acquire 100% Of Tryco International.Business Editors CISCO, Texas--(BUSINESSWIRE)--March 31, 2000 BroadBand Wireless International Corporation (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. : BBAN BBAN Basic Bank Account Number BBAN Bulgarian Business Angels Network ), has successfully completed all negotiations and executed the necessary contracts to acquire 100 % of Tryco International, Inc. for common stock. BBAN had announced on January 21, 2000 that it had entered into an agreement with Global Access New Millenium, Inc. for the acquisition of a 1/3 interest in Tryco. Tommy Hill, President of BBAN's International Division, said: "We are pleased to announce that contracts have been renegotiated and were executed on 27 March, 2000 for the acquisition of 100 % of Tryco International, Inc. by BroadBand Wireless International Corporation." Hill further commented "this significant development is a major step in the implementation of BBAN's Global Virtual Private Network. Tryco's 22 year operating history, their widespread credibility in the Middle East and Europe and their financial strength are going to immediately impact BBAN's ability to provide a wide range of telecommunications services in several countries." The senior offices and chief engineers of Tryco International have been conducting meetings recently with and receiving Network design input from Cisco Systems, Inc. (Nasdaq:CSCO) in Cisco's offices in San Jose, California San Jose (IPA: /ˌsænhoʊˈzeɪ/) is the third-largest city in California, and the tenth-largest in the United States. It is the county seat of Santa Clara County. , and are currently receiving additional guidance and professional assistance there as well. Tryco's Chief Engineer, from the Riyadh Saudi Arabia Office, the project leader for the new Systems to be installed and operated by Tryco in Afghanistan, anticipates design completion while at the offices and laboratories of Cisco Systems. With designs being completed, Hill stated that "we can move quickly into the final stages of our preparation to delivery BroadBand's "Phone Company In A Box" to Afghanistan." Tryco International, Inc. is a U.S. based corporation, with offices in the United States, Afghanistan, Croatia and Saudi Arabia. As previously reported, the firm is currently under contract with the United States Government's Defense Logistics Agency Noun 1. Defense Logistics Agency - a logistics combat support agency in the Department of Defense; provides worldwide support for military missions Defense Department, Department of Defense, DoD, United States Department of Defense, Defense - the federal department , to supply emergency equipment to all branches of the United States Armed Forces Used to denote collectively only the regular components of the Army, Navy, Air Force, Marine Corps, and Coast Guard. See also Armed Forces of the United States. worldwide. Tryco's Riyadh Office services both U.S. and Saudi clients by supplying and installing radio systems including the Royal Palaces in Jeddah and Ri yadh, the Central Bank, the five major hospitals in Saudi Arabia This is a list of hospitals in Saudi Arabia. Central region:
SCECO Streatham Common Environmental Co-Operative (UK) ), and other Government ministries. Tryco has supplied and installed communications towers, VHF repeaters, and a complete 6 channel TV station with 1000 MMDS receivers for the United States Air Force United States Air Force (USAF) Major component of the U.S. military organization, with primary responsibility for air warfare, air defense, and military space research. It also provides air services in coordination with the other military branches. U.S. . Tryco also provides INMARSAT and cellular telephone services to the United States, French and British forces in the Kingdom of Saudi Arabia. Tryco and the Afghan Ministry of Communication have formed a 51% / 49% Joint Venture thus creating the Afghan Telephone Company. Under the terms of this agreement, Tryco, as Managing Partner of the JV, represents Afghanistan with signature authority for INTELSAT, EUTELSAT EUTELSAT European Telecommunications Satellite , and the International Telecommunications Union See ITU. (body, standard) International Telecommunications Union - (ITU) ITU-T, the telecommunication standardisation sector of ITU, is responsible for making technical recommendations about telephone and data (including fax) communications systems for PTTs and suppliers. . Tryco is also engaged in the installation and operation of Earth Stations in the Middle East and Central Asia, with contracts for forty new earth stations currently being negotiated. Further plans call for the installation of antennas, transmitters and related equipment for the establishment of wireless internet and cellular systems in more than 2,800 existing buildings and facilities throughout cities in Europe. This document includes forward-looking statements, made under the Safe Harbors Provision 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. Such forward-looking statements are generally identifiable by the use of words such as "believe," "expect," "intend," and other words of similar nature. These statements are based on management's current expectations, estimates and projections that are subject to risk and uncertainties, including, but not limited to success of negotiations, availability of financing, political currency, regulatory, competitive and technological developments. Consequently, actual results could differ materially from those forward-looking statements. BroadBand Wireless International Corporation does not undertake, and specifically disclaims any obligations to update forward-looking statements which speak only as of the date made. |
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