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PHOENIX NETWORK, INC. JOINS THE AMERICAN STOCK EXCHANGE; COMPANY PREVIOUSLY TRADED ON THE NASDAQ SYSTEM

 NEW YORK, Oct. 5 /PRNewswire/ -- Phoenix Network, Inc. today began trading its common shares on the American Stock Exchange. The company previously traded over-the-counter on the Nasdaq Small Cap Market.
 Trading under the ticker symbol PHX, the company's common stock opened at 6-3/4 on 200 shares.
 J. Streicher & Co. has been selected as the company's specialist firm.
 Phoenix Network, Inc., based in San Francisco, is a reseller of long distance telecommunication services designed primarily for small to medium sized commercial accounts. Phoenix customers are placed on the networks of facilities-based carriers such as American Telephone & Telegraph Company, Sprint Communications, L.P., ALC Communications Corporation, Wiltel, Inc. and others.
 Thomas H. Bell, chairman of Phoenix Network said, "Although Phoenix Network had also considered trading on Nasdaq's National Market, we chose to move our stock to the American Stock Exchange because we believe strongly in the specialist system over the dealer system and feel that by listing on the AMEX, our shareholders will benefit over the long term. We are pleased that in 1992 and 1993, our company was selected by Inc. Magazine as one of 'America's 100 Fastest Growing Small Public Companies'. This recognition, combined with our recent move to the AMEX auction market system, is a milestone in our corporate history."
 The American Stock Exchange is unique among U.S. financial markets. It is the only exchange to successfully provide both a primary equities market for growth companies and a principal market for derivatives. The American Stock Exchange is dedicated to providing both public and professional investors with superior trading products and services at competitive prices.
 -0- 10/5/93
 /CONTACT: Melissa Grand, manager, Communications of American Stock Exchange, 212-306-1635/
 (PHX)


CO: Phoenix Network, Inc. ST: California IN: TLS SU:

WB -- NY043 -- 8851 10/05/93 12:09 EDT
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Publication:PR Newswire
Date:Oct 5, 1993
Words:300
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