Printer Friendly

MCI SIGNS $16.5 MILLION AGREEMENT WITH INTER-REGIONAL FINANCIAL GROUP

 RYE BROOK, N.Y., March 4 /PRNewswire/ -- MCI (NASDAQ: MCIC) and Inter-Regional Financial Group, Inc. (NYSE: IFG), the securities holding company for Minneapolis-based Dain Bosworth Inc. and Dallas-based Rauscher Pierce Refsnes, Inc. today announced a five-year agreement worth $16.5 million.
 According to the terms of the new agreement, which expands and extends a previous agreement, MCI will provide a variety of services to the IFG companies, including MCI Vnet, a virtual private network service, to connect its headquarters in Minneapolis and more than 75 locations nationally. As part of its Vnet service, MCI is providing virtual "automatic ringdown," or "hotline" service between IFG's Dallas and San Francisco offices, and between its Dallas and Houston offices. The IFG companies also use MCI's Vnet Custom Card, which makes remote calling more manageable and cost-effective. In addition, MCI is providing a "Broker-800" service which assigns individual 800 numbers to IFG's brokers, adding a personal touch to the broker-client relationship and individualizing customer service. The program also improves managers' ability to analyze and control office expenses.
 "With this contract, IFG shows confidence in our ability to give them the best combination of service and innovation," said Jonathan Crane, president of MCI National Accounts. "Our years of experience in serving the needs of leading brokerages and banks has enabled MCI to pioneer custom industry features such as Vnet Hotline service, which can offer considerable savings over traditional private line connections common in the brokerage industry," added Crane.
 Dave Henry, vice president of Rauscher Pierce Refsnes, said, "We chose MCI because of its flexibility and innovativeness in meeting our industry-specific needs. In working with MCI over the years, we have been impressed by its planning and networking capability, which has given our company cutting-edge technology."
 Said John Schwartz, Dain Bosworth first vice president, "We have been pleased with MCI's understanding of our business and flexibility in reacting to our business needs. We look forward to future applications of MCI's state-of-the-art technology, including frame relay and SMDS (switched multi-megabit service), which we plan to use as a platform for future applications linking LANS in major regional hubs for market data information and order processing, as well as host applications at headquarters, such as videoconferencing," he added.
 MCI recently announced that its new and improved version of its frame relay data service called HyperStream Frame Relay will be available in early March. SMDS is one of the newest public network technologies that offers users high-speed packet-switched data service on demand. Both technologies are expected to grow rapidly as companies migrate data traffic from expensive private line networks onto public data networks.
 Inter-Regional Financial Group provides full-service securities and investment banking services in 22 states through its subsidiaries, Dain Bosworth Incorporated, Minneapolis and Rauscher Pierce Refsnes, Dallas. The parent company's common stock is traded on the New York Stock Exchange under the symbol IFG.
 MCI, headquartered in Washington, D.C., offers a full range of domestic and global telecommunications services through one of the world's largest state-of-the-art networks. With 1992 revenue of over $10 billion, the company is the second largest long distance provider in the U.S. and has more than 60 offices in 55 countries and places.
 -0- 3/4/93
 /CONTACT: Yvonne Gagnon of MCI National Accounts, 914-933-6035/
 (MCIC IFG)


CO: MCI Telecommunications Corporation; Inter-Regional Financial Group,
 Inc. ST: New York IN: TLS SU:


LD-TM -- NY005 -- 2896 03/04/93 10:30 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 4, 1993
Words:568
Previous Article:FILENE'S BASEMENT REPORTS SALES FOR FEBRUARY
Next Article:MAYOR DINKINS ANNOUNCES INTERACTIVE TV LEARNING NETWORK THAT LINKS THREE PUBLIC HIGH SCHOOLS AND A CUNY COMMUNITY COLLEGE
Topics:


Related Articles
MCI SIGNS $19.2 MILLION CONTRACT WITH NISSAN MOTOR CORP. IN U.S.A.
PITNEY BOWES SIGNS $15 MILLION AGREEMENT WITH MCI FOR TELECOMMUNICATIONS SERVICES
CITICORP AWARDS MCI $250 MILLION AGREEMENT TO PROVIDE TELECOMMUNICATIONS SERVICES; MCI'S LARGEST COMMERCIAL AGREEMENT
CORNING SIGNS $26 MILLION AGREEMENT WITH MCI FOR TELECOMMUNICATIONS SERVICES
MCI WINS $30 MILLION AGREEMENT WITH MELVILLE CORPORATION FOR TELECOMMUNICATIONS SERVICES
MCI SIGNS AGREEMENT WITH FFMC AND GUARDIAN LIFE INSURANCE CO. FOR TELECOM SERVICES VALUED AT $19.6 MILLION
CoREN SELECTS MCI TO JOIN FORCES ON NATIONAL INFORMATION INFRASTRUCTURE INITIATIVES
MCI DOMINATES TELECOMMUNICATIONS AT
MCI, IVANS COMPLETE $1.4 BILLION TELECOMMUNICATIONS PACT
EMB Corporation's JV Partner VPN Communications Signs Agreement With MCI-WorldCom for On-Net Services.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters