Global Telemedia International to Acquire International Telecommunications & Information Processing Company.

ATLANTA--(BUSINESS WIRE)--Sept. 23, 1998--

Transaction Includes Rights to Provide Customs Services;

1997 Revenues Valued at $2.5 Billion

Global Telemedia International, Inc. (OTC Bulletin Board: GTMI) has executed a Letter of Intent to acquire CIS Systems, Inc. ("CIS"), an international holding company with a specific focus in emerging Eastern European opportunities.

CIS owns majority rights to provide the full range of customs services, including the collection of duties, taxes and other service fees, for the West-East Terminal Complex, a major transport corridor running through the Moscow Territory. The West-East Terminal Complex handles and processes the cargo from respective ports, railway systems and highways, from Estonia through the Moscow Territory. Nineteen ninety-seven revenues from these services were approximately $2.5 billion and are projected to increase dramatically following completion of improvements and expansions.

The Letter of Intent states that GTMI will acquire all of the outstanding securities of CIS Systems, a Delaware corporation, in consideration of the issuance of shares of a series of Convertible Preferred Stock of GTMI.

Additionally, CIS Systems has established relationships with the authorized government-owned communications services in various countries of the former Soviet Union. These relationships will provide CIS the licenses in these countries, either non-exclusively or on an exclusive basis where available, for the following services: Internet, cellular, PCS, fixed wireless, paging, Internet telephony and wireless local loops.

"This acquisition represents an exciting opportunity for GTMI to use the new ultra-fast, high-data rate technology that we will own once we have finalized the pending acquisition of UltraPulse Communications Inc.," said Roderick A. McClain, chairman and CEO. "The replacement and upgrade of existing infrastructure and the absence of an extensive network in a large portion of the populated areas of this region of the world demand a significant capital requirement. However, the cost-effectiveness of the UltraPulse technology will allow GTMI to greatly increase market share while bringing the quality of service up to speed with the rest of the world. We believe this acquisition will be the first of many that will allow us to strategically deploy the UltraPulse technology."

At the close of the acquisition, GTMI will have acquired a controlling interest in one or more PTTs (the government-owned communications services), with a minimum customer base of no less than 2 million subscribers. To expedite the due diligence process, CIS will receive audited financial statements for the PTTs with which it has established relationships. Accordingly, two of the big five auditing firms have been engaged to prepare audited financial statements.

GTMI is a full-service communications and information processing company focusing on international communications networking in emerging countries. Additionally, GTMI is developing its own proprietary technology to complement these efforts.

This release may contain forward-looking statements relating to such matters as anticipated financial performance, business prospects, technological developments, new products, research and development activities and similar matters. The Private Securities Reform Act of 1995 provides a safe harbor for forward-looking statements. In order to comply with the terms of the safe harbor, the Company notes that a variety of factors could cause the Company's actual results to differ materially from the anticipated results or other expenditures expressed in the Company's forward-looking statements. These risks and uncertainties are detailed int he Company's Form 10KSB for the period ended December 31, 1997, and the Company's Form 10QSB for the periods ended March 31, 1998 and June 30, 1998, and are incorporated herewith by reference.