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OCOM RECEIVES PRELIMINARY FAVORABLE ADVICE FROM BRITISH REGULATORY AGENCY

    NEW YORK, Aug. 5 /PRNewswire/ --  OCOM Corporation (NASDAQ: OHCO) announced, in connection with its previously announced transaction to form International CableTel, Inc. and to acquire Insight Communications U.K.'s interests in cable/telephony franchises in the United Kingdom, that following discussions with the British Office of Telecommunications ("Oftel"), OCOM and Insight have now received preliminary favorable advice that Oftel is prepared to begin the process necessary to revoke existing orders that could have led to a revocation of certain Insight licenses.  OCOM indicated that Oftel's advice would be issued upon the condition that the previously announced public offerings of common stock and senior deferred notes of International CableTel were successfully completed.
    Further, Oftel advised OCOM and Insight that upon the successful completion of the public offering, Oftel would be prepared, subject to compliance with the appropriate statutory notice requirements, to adjust the construction timetables for all of the Insight licenses, except for the Guildford and Cardiff licenses, as to which a request is pending before the Department of Trade and Industry.
    The completion of the transaction with Insight and the public offering, are subject to the finalization of these regulatory processes, as well as other closing conditions.
    -0-             08/05/93
    CONTACT:  Richard J. Lubasch or Stanton N. Williams of OCOM Corporation, 212-906-8440
    (OHCO) CO:  OCOM CORPORATION IN:  TLS SU:  TNM ST:  NY


-- NY079 -- X309 08/05/93
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Publication:PR Newswire
Date:Aug 5, 1993
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