Crys-Tel Enters Into Master Lease Agreement For 300 VoIP Gateways and Management Agreement.Business Editors and High-Tech Writers LA JOLLA, Calif.--(BUSINESS WIRE)--May 15, 2000 Crys-Tel Telecommunications.com, Inc. (Crys-Tel) Monday announced that it has signed a lease agreement with RCG RCG Responsible Conduct of Gambling RCG Revolutionary Communist Group (Northern Ireland) RCG Raiffeisen Central Genossenschaft (German: Raiffeisen Cooperative) RCG Race, Class and Gender Holdings, Inc. for the utilization and deployment of 300 Franklin Telecommunications, Inc. (AMEX AMEX See: American Stock Exchange :FCM FCM See: Futures commission merchant FCM See futures commission merchant (FCM). ) gateways and supporting equipment. Crys-Tel in prior news releases announced that it was in discussions and negotiations with USATalks.com, Inc. (USATalks)(Pink Sheets, National Quotation Bureau National Quotation Bureau A service that publishes bid and offer quotes from market makers in OTC transactions. National Quotation Bureau :USAT USAT USA Today (newspaper) USAT USA Triathlon USAT Ultra Small Aperture Terminal USAT United States Army Transport USAT United States Archery Team USAT Universal SIM Application Toolkit USAT United Savings Association of Texas ) for the purchase of its Voice over Internet Protocol (VoIP) equipment formerly utilized in their U.S. nationwide network. The negotiations with USATalks were successfully completed, whereby RCG Holdings, a shareholder in Crys-Tel entered into a purchase agreement with USATalks to acquire the Franklin VoIP equipment. The equipment is believed to have a retail value in excess of $6 million USD USD In currencies, this is the abbreviation for the U.S. Dollar. 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. and will be immediately deployed to Crys-Tel's joint ventures in Central and Eastern Europe The term "Central and Eastern Europe" came into wide spread use, replacing "Eastern bloc", to describe former Communist countries in Europe, after the collapse of the Iron Curtain in 1989/90. . Crys-Tel also entered into a management agreement with RCG Holdings to provide management services related to the equipment and pre-deployment administration for 120 days. RCG Holdings, an international holding company, has certain interests in global telecommunications and will employ Crys-Tel and its management team for additional projects that it may enter into or acquire. RCG Holdings has also agreed to provide short term financing to Crys-Tel upon the deployment of the equipment. Dr. Lorenzo Musa, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Crys-Tel now currently in Southern California, said: "Our shareholders have endured a lot over the past few months, however that has not deterred most of our shareholders from being avid supporters of the company. This is evident by RCG acquiring the equipment for Crys-Tel and assisting in the acceleration of our business model. "We are very pleased that one of our shareholders has an interest that complements our desire for global growth and a comprehension of the technological movement underway in the telecommunications field. We look forward to working with RCG and the expansion of our management team." Crys-Tel is an international facilities-based carrier, which utilizes the Internet to provide economical international telecommunications services. Through its Voice over Internet Protocol technologies: voice, data and value-added services are routed over the Internet. It is Crys-Tel's intention to utilize the Franklin Telecommunications equipment in their expansion within North America and as a key part of the deployment and construction of the planned worldwide network. For more information, call the company directly at 858/713-1491 Except for historical matter contained herein, the matters discussed in this news release are forward-looking statements and are made pursuant to the safe harbor provision of the 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. These forward-looking statements reflect assumptions and involve risks and uncertainties, which may affect the company's business and prospects and cause actual results to differ materially from these forward-looking statements. |
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