Carnegie International Provides Updates on Acquisitions, Financing.Business Editors BALTIMORE--(BUSINESS WIRE)--Nov. 1, 2000 Carnegie International Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CGYC CGYC Canossian Global Youth Conference CGYC Common Ground Youth Church ) today provided updates on pending acquisitions and financing. Carnegie President Lowell Farkas said the Internet support and computer telephony holding company has, "like all small IT-related companies, felt the impact of current market conditions, which have delayed, not put off, our plans." Mr. Farkas said the pending acquisitions of ARC Communications of Piscataway, New Jersey (see "Carnegie International to Acquire ARC Communications, Leading Telecom Reseller and Telephone Remanufacturer," Business Wire, July 10) and Teleservices, Inc., of Nashville, Tennessee (see "Carnegie International to Acquire Hotel Services Provider," Business Wire, July 26), are now expected to close in January. ARC (www.arccom.com) is an authorized Lucent(R) (NYSE NYSE See: New York Stock Exchange :LU) Business Partner, a Cisco(R) (Nasdaq:CSCO CSCO Cisco Systems Incorporated (stock symbol) CSCO Chief Supply Chain Officer ) Premier Partner, and a dealer/distributor for Samsung(R), VoySys(R), Key Voice(R) and Nokia(R) (NYSE:NOK NOK In currencies, this is the abbreviation for the Norwegian Krone. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. )/Telekol(R) Intelligent Applications Inc., U.S. Robotics(R)/3Com(R) (Nasdaq:COMS COMS 3Com Corporation (stock symbol) COMS Certified Orientation and Mobility Specialist COMS Continuous Opacity Monitoring Systems COMS City of Manchester Stadium (UK) ) Telephone Products, Polycom(R) Audit Conferencing products, and ECI/Tadiran(R) Digital PBX's and CoralAir(R) wireless solutions. Teleservices is an authorized Mitel(R) dealer and currently provides more than 400 hotels, including Holiday Inn(R), Hampton Inn(R), Ramada(R) Inn, and Choice Hotel(R) properties, with Mitel systems and telecom services. Mr. Farkas also cited current market conditions in announcing that no substantial financing is expected to be completed until after the first of the year as well. He said the transaction with Williams, Rosen and Wall, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , previously agreed upon by both parties, will not be completed. Carnegie Subsidiaries Teaming Up Carnegie also reported that two of its subsidiaries, RomNet Support Services, Inc., of Boston, an Internet, e-business and technical support services company, and Profit Through Telecommunications (Europe) Ltd. (PTT (1) (Postal, Telegraph & Telephone) The governmental agency responsible for combined postal, telegraph and telephone services in many European countries. (2) See push-to-talk. PTT - Post, Telephone and Telegraph administration ) of Sheffield, U.K., a telecommunications software company providing business solutions utilizing proprietary speech recognition, touch tone and bar code responses to send and/or receive information are teaming up. Mr. Farkas said that PTT will host some of RomNet's international business starting in December, helping increase RomNet's reach into Europe. He said this activity is in addition to PTT's plans to launch ROSIE, its small office solution, in the first quarter of 2001. About Carnegie International Corporation Carnegie International Corporation (OTCBB:CGYC) (www.carnegieint.com) is an Internet support and computer telephony holding company with specialization in telecommunications products, services and distribution, and in E-Commerce and EDI (Electronic Data Interchange) The electronic communication of business transactions, such as orders, confirmations and invoices, between organizations. Third parties provide EDI services that enable organizations with different equipment to connect. . Its primary wholly-owned subsidiaries include: RomNet Support Services, Inc.; Profit Through Telecommunications (Europe) Ltd. (PTT); ACC See adaptive cruise control. Telecom of Columbia, Maryland, a leading reseller of equipment and business telephone systems from Cisco (CSCO), Comdial (CMDL CMDL Climate Monitoring and Diagnostics Laboratory CMDL Common Mission Data Loader ), Lucent (LU), SONY(R) (SNE) and Sprint(R) (FON); American Telephone & Computer, an Ameritech and Comdial dealer based in the Chicago suburbs; Voice Quest, Inc., of Sarasota, Florida, a developer and provider of speech recognition and voice mail technologies and products, Paramount International Telecommunications, Inc., of Vista, California, which serves hotels and other businesses, primarily in 0+/- call auditing and international one-plus sectors, and Federation of Associated Health Systems, Inc., of San Antonio, Texas “San Antonio” redirects here. For other uses, see San Antonio (disambiguation). San Antonio is the second most populous city in Texas, the third most populous metropolitan area in Texas, and is the seventh most populous city in the United States. As of the 2006 U.S. , which serves more than 700 hospitals with telecommunications services, primarily in 0+/- call auditing and international one-plus sectors. 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 provides a "safe harbor" for forward-looking statements. Certain information included in this Press Release (as well as information in oral statements or other written statements made or to be made by Carnegie International Corporation) contain statements that are forward-looking, such as statements relating to the future anticipated direction of the telecommunications industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, and accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of Carnegie International Corporation. These risks and uncertainties included, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, change in Federal or state laws, and market competition factors. MAVIS is a trademark of Carnegie International Corporation. Other trademarks are properties of their respective owners. |
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