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SPRINT, CALL-NET CLOSE ALLIANCE

 WASHINGTON, Oct. 4 /PRNewswire/ -- Sprint (NYSE: FON) and Call-Net Enterprises Inc. of Toronto today announced the closing of the transaction formalizing Sprint's alliance with Call-Net. Under the alliance, Sprint will provide use of its intellectual property and access to its complete intelligent network capabilities in exchange for a 25 percent equity stake in Call-Net.
 The alliance was originally announced on Aug. 4, 1993, pending approval by the boards of directors of both Sprint and Call-Net. Call- Net's shareholders approved the alliance at a special shareholders' meeting Sept. 21, 1993.
 At closing of the transaction Oct. 1, 1993, Call-Net issued Sprint 6,197,664 Class C non-voting shares, representing all Call-Net's outstanding Class C non-voting shares, thereby providing Sprint with a 25 percent equity interest in the company.
 The Class C non-voting shares are convertible at any time into Call- Net's listed Class B non-noting shares, and in limited circumstances, into Class B non-voting shares and common shares on a 50/50 basis. The Class C non-voting shares entitle Sprint to minority representation on Call-Net's board.
 At closing, Robert Bailey resigned as director of Call-Net and Sprint appointed three representatives to Call-Net's expanded board of nine directors. Sprint's nominees to Call-Net's board are: George Fuciu, senior vice president of Sprint Network/Information Services; Paolo Guidi, president of Sprint International; and Thomas Weigman, president of Sprint Multimedia and Strategic Services.
 Call-Net is Canada's largest alternative provider of switched voice long-distance services and currently serves more than 17,000 business customers in Ontario, Quebec and British Columbia. Call-Net's Common Shares and Class B non-voting shares are traded on both the Toronto Stock Exchange and the Montreal Exchange.
 Sprint is a diversified international telecommunications company with more than $10 billion in annual revenues and the United States' only nationwide all-digital, fiber-optic network. Its divisions provide global long distance voice, data and video products and services, local telephone services to nearly 6 million subscriber lines in 19 states, and cellular operations that serve 42 metropolitan markets and more than 50 rural service areas.
 -0- 10/4/93
 /CONTACT: Janis Langley, 202-828-7427 or, home, 703-533-3322, or Gerry Simone, 202-828-7423 or, home, 703-471-9213, both of Sprint/
 (FON)


CO: Sprint; Call-Net Enterprises Inc. ST: District of Columbia IN: TLS SU:

DC-MH -- DC037 -- 8563 10/04/93 17:22 EDT
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Publication:PR Newswire
Date:Oct 4, 1993
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