Carnegie International Purchases Option to Acquire 3rd Comdial Dealer.

HUNT VALLEY, Md.--(BUSINESS WIRE)--August 11, 1998--

TeleResources, Inc., of Chicago is No. 1 Comdial Dealer in U.S.

Carnegie International Corporation, (OTC: BB CAGI), a leading telephony development and marketing company, has purchased the option to acquire TeleResources, Inc., of Oak Park, Illinois, and one of the nation's foremost telecom resellers and the No.1 Comdial(R) dealer in the U.S..

Carnegie President and CEO Lowell Farkas said an agreement had been reached with TeleResources's President Hans Herrmann and Vice President Ted Mlsna, co-founders of the Chicago area firm, to become part of Carnegie's rapidly-growing distribution organization. The option may be exercised within 60 days.

TeleResources is the third major Comdial reseller and member of its prestigious Platinum dealer program to join forces with Carnegie, which is based in suburban Baltimore. ACC Telecom of Columbia, Maryland, the No. 2 Comdial dealer, was acquired by Carnegie in the Spring, bringing morethan 2,700 customers and revenues of $3.4 million to the fold. In late July, Carnegie signed an option to purchase Advanced Networking, Inc. (ANI) of Wilmington, Delaware, a $1.4 million firm with some 600 customers, which is Comdial's No. 15 dealer and a Platinum program member.

"One of the major attractions Carnegie offers to dealers is MAVIS(tm), our proprietary Multi-Language Automated Voice Independent System," said Farkas. "MAVIS is a unique and ideal solution for today's telephony marketplace which needs tools and applications that boost productivity and trim costs. MAVIS answers that call, setting new standards for automated attendant systems by communicating intelligently with callers through its advanced voice recognition software that understands and responds to even the strongest accents and dialects. MAVIS has a wide array of features and capabilities, is very easy to use, and extremely cost-effective. MAVIS drew raves from telephony industry onlookers when it made its European debut at the recent Networks Telecom and Computer Telephony Expo in the U.K.," said Farkas."

A Chicagoland Telecom Leader

TeleResources is one of the leaders in telecom products and services the Midwest, but, according to Herrmann. "we wanted to extend our product line by being able to offer MAVIS to existing customers and prospects. In addition, we wanted and needed to gain the economies of scale that come with being part of a large, aggressive firm like Carnegie." Herrmann said TeleResources was formed in 1988 by bringing together Corporate Communications Systems of America, which he had founded with Mlsna, and acquiring CCI and Pritec, the latter having been in business for nearly 50 years. TeleResources, he said, is also a 5-star Ameritech Dealer, and offers an array of products and services including voice processing and mail, visual call management, IVR and fax management, computer telephone integration including screen pops from the user's database, call accounting systems, voice and data cabling, power supplies, battery back up and UPS systems, cellular phones and pagers (serviced by Ameritech), paging and intercom systems, ACD call distribution systems, disaster recovery systems, and multi-cell wireless systems.

"Today, TeleResources has grown to more than 50 professionals supporting our customer base, which totals in excess of 5,000 businesses and government agencies -- including the City of Chicago and the Great Lakes Naval Base -- located mainly in the Midwest," Herrmann said. "TeleResources had record revenues of more than $4 million in 1997, a dramatic 60% increase as both our company and the telephony market enjoyed banner years," he added.

Carnegie to 'Keep Growing'

Carnegie President and CEO Farkas said the agreement with TeleResources was in keeping with the company's plan to "keep growing. We will investigate all opportunities where we can increase distribution for MAVIS and where we believe we have a business and philosophical fit. In acquiring the right to purchase TeleResources, we believe we have an ideal situation which should result in substantial growth and success for both organizations."

Carnegie International Corporation (OTC: BB CAGI), based in the Baltimore suburb of Hunt Valley, Maryland, is a leader in telephony technology and IVR interactive voice response) systems. Its MAVIS(tm) (Multi-Language Automated Voice Independent System) sets a new standard for automated attendant systems, communicating intelligently with callers and using advanced voice recognition software to recognize and respond to even strong accents and dialects. Entirely voice- driven, MAVIS can be used in any language supported by Lernout and Hauspie speech products. Carnegie International Corporation is a holding company with three primary wholly-owned subsidiaries in the telecommunications industry: Profit Through Telecommunications (Europe) Ltd. (PTT), a telecommunications software company providing business solutions utilizing proprietary speech recognition, touch tone and bar code responses to send and/or receive information; Talidan, a reseller marketing telephone time and information at discounted rates in South America, Europe, and other emerging markets including Russia, and ACC Telecom of Columbia, Maryland, a leading reseller of equipment and business telephone systems from Comdial(R), SONY(R), Bell South(R), and Sprint(R). For fiscal 1997, it reported revenues of $7,048,570 and earnings per share of $0.041. In the first quarter of 1998, Carnegie had revenues of $4,182,544, a 255% increase over the same period last year.

Private Securities Litigation Reform Act 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.

   CONTACT:  Lowell Farkas
              Carnegie International Corporation
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              David A. Kaminer
              The Kaminer Group
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