Carnegie International to Sell a Non-Core Business, Not Recommend Reverse Split.Business Editors/High-Tech Writers BALTIMORE--(BUSINESS WIRE)--Nov. 1, 2000 Internet support and computer telephony holding company Carnegie International Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CGYC CGYC Canossian Global Youth Conference CGYC Common Ground Youth Church ) said today that it will shortly announce the divestiture of a non-core subsidiary, and that management will not recommend a reverse split in its upcoming proxy. Lowell Farkas, president of Carnegie, said today's announcement follows a press release (see "Carnegie International Corporation Sets Annual Meeting," Business Wire, October 16) which first revealed the company's plans for non-core divestiture and proxy statement options. He also said that Carnegie management has "completed its review of recommending a reverse split, and does not plan to include this option on the proxy notice to shareholders prior to our annual meeting in December." 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., an Internet, e-business and technical support services company, 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 ), a telecommunications software company providing business solutions utilizing proprietary speech recognition, touch tone and bar code responses to send and/or receive information; ACC See adaptive cruise control. Telecom of Columbia, Maryland, a leading reseller of equipment and business telephone systems from Cisco (Nasdaq:CSCO CSCO Cisco Systems Incorporated (stock symbol) CSCO Chief Supply Chain Officer ), Comdial(TM) (Nasdaq:CMDL CMDL Climate Monitoring and Diagnostics Laboratory CMDL Common Mission Data Loader ), Lucent (NYSE NYSE See: New York Stock Exchange :LU), SONY(R) (NYSE:SNE) and Sprint(R) (NYSE: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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