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INTERTEL COMMUNICATIONS ANNOUNCES RECORD THIRD QUARTER REVENUES

 INTERTEL COMMUNICATIONS ANNOUNCES RECORD THIRD QUARTER REVENUES
 DENVER, Aug. 18 /PRNewswire/ -- Intertel Communications Inc. (AMEX: ITR.EC) today announced record revenues for its third quarter ended June 30, 1992. Revenues were ($U.S.) $2,294,200 compared with $46,583 for the third quarter of 1991.
 Gross profit, or revenues less cost of sales, for the third quarter was $826,970, compared with $13,316 for the third quarter of 1991.
 There was a net loss for the quarter of $1,295,918, or 3 cents per share, compared with a loss of $1,072,177, or 3 cents per share, for the like period in 1991. The company said the third quarter operating loss reflects a one-time write down of several items, including $331,000 in depreciation of its fiber-optic asset and $628,000 in legal and startup expenses for both its alternate access and satellite businesses.
 For nine months ended June 30, 1992, revenues increased more than 2,000 percent to $3,229,766, compared to $152,736 for the nine months ended June 30, 1991.
 W.W. Bill Becker, president and chairman of Intertel, said, "During the third quarter we experienced increases in business in all three operating units, including alternate access, satellite services and fiber-optic network builds.
 "We're pleased with our third quarter financial performance as we continue to build momentum on the fundamentals of our business."
 Intertel, through its operating subsidiary, Teleport Denver Ltd., is the first publicly traded alternate local access company and full service teleport in the United States.
 The company recently completed a 115-mile fiber-optic network in the Denver metropolitan area.
 The all-digital network is operational and is in front of an estimated $250 million market in Colorado. The network offers a competitive choice to the local telephone company in connecting businesses to businesses, businesses to their long-distance company, or long-distance companies to their other local locations.
 The teleport facility provides domestic satellite uplink services and end-to-end global connectivity with the company's fiber-optic network.
 During the third quarter, the company also completed a majority acquisition of Fiber Optic Technologies Inc., which designs, builds and maintains sophisticated fiber-optic networks throughout the United States.
 -0- 8/18/92
 /CONTACT: Gordon Blankstein of Intertel, 800-667-4366/
 (ITR) CO: Intertel Communications Inc. ST: Colorado IN: TLS SU: ERN


BB -- DV008 -- 1054 08/18/92 15:29 EDT
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Date:Aug 18, 1992
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