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THRIFTY TEL INC. SIGNS LETTER OF INTENT TO ACQUIRE SOUTHERN CALIFORNIA LONG DISTANCE TELEPHONE SERVICE COMPANY

 LOS ANGELES, Nov. 18 ~PRNewswire~ -- Thrifty Tel Inc. (OTC: THRF), a long distance telephone service company, today announced the company signed a Letter of Intent to acquire the long distance telephone business of Call USA Inc.
 Call USA Inc. ("CUSA") is a certified long distance telephone service company headquartered in Victorville, Calif. CUSA's annual revenues have been represented to average $3.8 million generated from its monthly customer base of 5,500. The customer base is primarily concentrated throughout the High Desert area of Southern California.
 THRF has negotiated to purchase, following a 30-day investigation period starting on the date of the Letter of Intent, certain assets and liabilities of CUSA which include the entire long distance telephone customer base of CUSA. THRF may terminate the acquisition during the investigation period. The exact terms and structure of the acquisition may be subject to negotiation and change prior to the definitive agreement, which will be signed following the conclusion of the investigation period. Completion of the transaction is subject to various conditions, including structuring of suitable financing by THRF.
 The company recently entered into an investment banking agreement with Cruttenden & Co. Cruttenden & Co. is headquartered in Irvine, Calif., and registered in 46 states nationwide.
 Management stated that the completion of this acquisition and assistance marks a major step in the initial phase of THRF's aggressive acquisition and expansion program.
 Thrifty Tel Inc. is a long distance telephone service company headquartered in Garden Grove, Calif., with additional sales and marketing facilities located in Los Angeles, Orange, San Bernardino and San Diego counties, Calif. The company offers digital fiber optic quality service at extremely competitive rates and is certified by the California Public Utilities Commission.
 -0- 11~18~92
 ~CONTACT: Rebecca J. Bigley of Thrifty Tel, 714-740-2880~
 (THRF)


CO: Thrifty Tel; Call USA Inc. ST: California IN: TLS SU: TNM

LS-JB -- LA006 -- 2186 11~18~92 09:02 EST
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Publication:PR Newswire
Date:Nov 18, 1992
Words:316
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