InterCel, Inc. To Change Corporate Name To Powertel, Inc. on July 1 New Nasdaq Symbol - PTEL.WEST POINT, Ga.--(BUSINESS WIRE)--June 25, 1997--InterCel, Inc. (NASDAQ NASDAQ
in full National Association of Securities Dealers Automated Quotations
U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ICEL ICEL International Committee on English in the Liturgy
ICEL International Consortium for Experiential Learning
ICEL International Committee for English in the Liturgy ) today announced that the Company will change its corporate name to Powertel, Inc. effective July 1, 1997, and the stock will begin trading under its new stock symbol "PTEL PTEL Prequalified Training Equipment List " effective that date. The name change was approved by shareholders at the Company's annual meeting held last month.
"The Powertel name captures the spirit of our new corporate focus in launching and developing one of the largest PCS (1) (Personal Communications Services) Refers to wireless services that emerged after the U.S. government auctioned commercial licenses in 1994 and 1995. This radio spectrum in the 1. networks in the Southeast, and we believe the corporate name change is another positive step in building awareness for the Company's `Powertel' brand name," said Allen E. Smith, InterCel president and chief executive officer. "We have invested significant capital in establishing the Powertel brand through advertising and marketing programs and anticipate our corporate name change will further increase our visibility among both consumers and investors."
Powertel, Inc. is licensed to provide wireless personal communications services See PCS. in 12 southeastern states to a population of approximately 24 million people. Powertel's major markets include Atlanta, Augusta, Birmingham, Chattanooga, Jackson, Jacksonville, Knoxville, Louisville, Memphis and Nashville. The Company utilizes the Global System for Mobile Communications (communications) Global System for Mobile Communications - (GSM, originally "Groupe de travail Sp?ciale pour les services Mobiles") One of the major standards for digital cellular communications, in use in over 60 countries and serving over one billion subscribers. (GSM), the leading technology worldwide for digital wireless communications wireless communications
System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. . Powertel offers compact handsets featuring portable phone, voice mail and paging services throughout its coverage area.
Certain of the matters discussed in this news release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Those statements include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward looking statements are not guarantees of future performance and involve a number of risks and uncertainties, and that actual results could differ materially from those indicated by such forward looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward looking statements are: (I) that the information is of a preliminary nature and may be subject to further adjustment, (ii) variations in quarterly results, (iii) impact of competitive products and technologies, (iv) the management of the Company's growth and expansion, (v) dependence on key personnel, and (vi) and the other risks and uncertainties detailed from time to time in the Company's periodic reports (including the Annual Report on Form 10-K Form 10-K
A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information.
See 10-K. for the year ended December 31, 1996) filed with the Securities and Exchange Commission.
CONTACTS: InterCel, Inc., West Point
Kevin Inda, 706/634-1218