CCC GlobalCom Corporation Announces the Signing and Execution of a Letter of Intent to Acquire Selected Omniplex Communications Group, LLC Assets.

Business Editors & High Tech Writers

HOUSTON--(BUSINESS WIRE)--June 5, 2001

CCC GlobalCom Corporation (OTCBB:CCGC) announced today that it has executed a Letter of Intent to acquire selected assets of Omniplex Communications Group, LLC (Omniplex). Omniplex is in a Chapter 11 Bankruptcy proceeding and the completion of CCC GlobalCom's purchase of the Omniplex assets is subject to approval of the bankruptcy court, and the finalization of a Definitive Asset Purchase Agreement. The assets to be acquired and the terms of the transaction will not be disclosed until the aforementioned items have been completed.

According to Mr. Z.A. Hakim, chairman and CEO of CCC GlobalCom Corporation, "This asset purchase Letter of Intent continues the corporations merger and acquisition strategic plan. The plan focuses on building an expedient revenue model through the acquisition of domestic and international customers including the deployment of state-of-the-art telecommunication equipment. The plan objective is to implement CCC GlobalCom's own Virtual Private Telecommunications Network first in the Western Hemisphere and globally thereafter. This acquisition, combined with the three previous acquisitions since going public last June, provides a fully integrated facilities-based, competitive local exchange service provider. The acquisition will add long distance and local telephony customers, primarily corporate clients. CCC GlobalCom will immediately market to the Omniplex customers a bundle of communication services and provide them with one point of contact for all their communication needs. This bundle of services will be integrated into CCC GlobalCom's existing facilities-based telephone switching equipment and operations. In achieving this objective, operating margins are expected to be increased."

CCC GlobalCom Corporation is a telecommunications company headquartered in Houston. The corporation is an integrated communications provider offering a full range of communications services to commercial and residential customers, while providing for a single point of contact through bundled billing services. The corporation provides its services as a Competitive Local Exchange Carrier (CLEC). The corporation provides local, long distance, high speed data, Internet, paging, cellular and other enhanced communications services in the Southwest Region of the United States and plans to offer similar services to more than thirty (30) US markets over the next 12 months. In addition, the corporation is finalizing certain agreements for telecommunications services in Latin America and Indonesia. The corporation is actively engaged in discussions, negotiations, and has executed Letters of Intent to acquire existing telecommunication service providers, customer bases, and major telecommunication switching equipment to be deployed worldwide.

Statements in this release, which express a belief, expectation, or intention, as well as those, which are not historical fact, are forward-looking. They involve a number of risks and uncertainties, which may cause actual results to differ materially from such forward-looking statements. These risks and uncertainties include factors detailed from time to time in the company's filings with the Securities and Exchange Commission.