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PHOENIX NETWORK RESUMES TRADING UNDER 'PHXN' NASDAQ SYMBOL

 PHOENIX NETWORK RESUMES TRADING UNDER 'PHXN' NASDAQ SYMBOL
 SAN FRANCISCO, Jan. 9 /PRNewswire/ -- Phoenix Network (NASDAQ) today announced it has received $975,000 from investors purchasing its Series B convertible preferred stock. With the addition of funds raised from the placement, Phoenix has reestablished its NASDAQ capital requirements and has resumed trading on the NASDAQ System under the ticker symbol "PHXN."
 The company also announced that in order to align its fiscal year with other national telecommunication companies, it has changed from a fiscal year end of April 30 to a calendar year end of Dec. 31, 1991.
 Phoenix Network is a recognized leader in the non-facilities based resale of long distance telephone service to residential and small to medium sized businesses and then rebills these services to smaller users at rates typically below those they could attain on their own. It also provides custom billing and management reports tailored to specific customer needs.
 -0- 1/9/92
 /CONTACT: Tom Bell, chairman of Phoenix Network, 415-981-3000; or Craig A. Parsons or Elizabeth Gard of Rifkind Pondel & Parsons, 310-207-9300, for Phoenix Network/
 (PHXN) CO: Phoenix Network ST: California IN: TLS SU:


CH-EH -- LA026 -- 8305 01/09/92 14:40 EST
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Publication:PR Newswire
Date:Jan 9, 1992
Words:199
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