CLEC License Approvals in Forty-Seven Markets for Fidelity Holdings' Subsidiary Computer Business Sciences.KEW GARDENS Kew Gardens (ky  ), Kew, Surrey, S England, on the Thames just W of London; Royal Botanic Gardens is the official name. , N.Y.--(BUSINESS WIRE)--Oct. 21, 1999--
New Jersey, Massachusetts Confirmed; 75% of Target Locations Approved Fidelity Holdings, 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 : FDHG) through its technology subsidiaries, Computer Business Sciences, Inc. ("CBS (Cell Broadcast Service) See cell broadcast. ") today announced reaching a milestone of 75% of its targeted CLEC (Competitive Local Exchange Carrier) An organization offering local telephone service that is not one of the traditional telephone companies. The Telecommunications Act of 1996 allowed competition to the incumbent telcos (ILECs), enabling new companies (CLECs) (Competitive Local Exchange Carrier) status, on schedule, with CLEC approval in Massachusetts and New Jersey, bringing the number of its approved CLEC licenses to nineteen states, encompassing forty-seven markets nationwide. CBS is preparing to deploy its services in these markets, and expects to shortly begin rolling out its XDSL-based services via a collocation arrangement with Bell Atlantic (NYSE NYSE See: New York Stock Exchange : BEL) in the New York metropolitan area New York–Northern New Jersey–Long Island is the most populous metropolitan area in the United States and the third most populous in the world, after Tokyo and Mexico City. . Doron Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. , President of Fidelity, stated: "I am pleased with the advances we have made toward accomplishing the challenging legal approvals necessary for business. The 1996 Telecommunications Act was imposed to allow for increased competition in the telecommunications market, to benefit the consumer and foster technological creativity. In taking advantage of these regulatory realities, CBS, via IG2, is making great strides in reaching its goals; to date, three-quarters of the way toward approval in the planned 62 largest markets in thirty-one states. I am proud of our team's achievement in meeting target dates in the business plan, and am confident of our continuing progress. As we study the avenues open to us regarding the future of our technology division, we must assess its valuable potential." CBS presently has CLEC approvals in Alabama, California, Colorado, District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). , Florida, Illinois, Michigan, Minnesota, 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 , Ohio, Oregon, Pennsylvania, Rhode Island Rhode Island, island, United States Rhode Island, island, 15 mi (24 km) long and 5 mi (8 km) wide, S R.I., at the entrance to Narragansett Bay. It is the largest island in the state, with steep cliffs and excellent beaches. , Tennessee, Texas, Washington and Wisconsin. With the addition of Massachusetts and New Jersey, CBS will be able to operate as a Facilities-Based Carrier of Local Telecommunications Services and Intrastate Interexchange Services in nineteen states, encompassing 47 of the planned rollout to 62 of the most populous cities in the U.S., moving it ever-closer to achieving another significant milestone in its business plan. Once operational, CBS's services are planned to be offered, via its IG2, Inc. subsidiary, on a multimedia network platform, IG2(TM), designed to provide a bundled package to residential and small business customers of high-speed Internet access, local and long distance telephone service, television programming, television quality video conferencing and e-Commerce capabilities, all through existing telephone wires already installed in the customer's home. Contributing to the IG2(TM) platform are a series of consumer electronic manufacturers, software developers and companies seeking additional exposure utilizing e-Commerce. Fidelity Holdings has been a diversified holding company that utilizes information and technology to target industries experiencing consolidation and/or deregulation Deregulation The reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry. Notes: Traditional areas that have been deregulated are the telephone and airline industries. . The Company operates two divisions -- Automotive and Technology. The Automotive Division operates through Major Automotive Group, a leading consolidator of automotive dealerships in the New York Metropolitan Area. The Technology Division operates under Computer Business Sciences, its IG2, Inc. subsidiary, and its plastics subsidiary. Fidelity Holdings, Inc. is presently exploring the divestiture of its non-automotive activities by way of sale, merger, consolidation or other opportunities. Accordingly, all such non-automotive activities have been classified as discontinued operations Discontinued operations Divisions of a business that have been sold or written off and that no longer are maintained by the business. in its financial statements. For additional information, visit our website at www.fdhg.com, www.majorautomotive.com and www.majorworld.com. The information contained in this press release, including any "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 contained herein, should be reviewed in conjunction with the Company's Annual Report on Form 10-KSB and other publicly available information regarding the Company, copies of which are available from the Company upon request. Such publicly available information sets forth many risks and uncertainties related to the Company's business and such statements, including risks and uncertainties related to that are unpredictable and outside of the influence and/or control of the Company. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion