TUCSON, Ariz., June  23 /PRNewswire/ -- Wavetech International, Inc.
(previously Nasdaq: ITEL) announced today that it has been approved for
trading on the OTC Bulletin Board and has been notified that its Common Stock
will begin trading as OTC BB: ITEL at any time.
    On May 5, 1999 Wavetech received  formal notification from the Nasdaq
Stock Market that the conditional listing under which the Company had been
operating had terminated and the Company was delisted from the Nasdaq SmallCap
Market effective as of the close of the market May 4, 1999.  At that time, the
Company announced that it intended to apply for inclusion of its Common Stock
on the OTC Bulletin Board as soon as possible.
    As reported in the Company's 10Q, for the quarter ended February 28, 1999,
the Company's stock had been trading under a conditional listing by Nasdaq.
The Company was previously notified by Nasdaq that its Common Stock would be
delisted from the Nasdaq SmallCap Market because it was not in compliance with
the $1.00 minimum bid price requirement.  The Company appealed Nasdaq's
decision to delist its Common Stock for failure to meet this requirement at a
hearing on November 19, 1998.
    On December 9, 1998, the Company was notified by Nasdaq that its Common
Stock would continue to be listed on the Nasdaq SmallCap market via an
exception from the minimum bid price requirement, provided the Company met
certain conditions, including consummation of the pending merger with DCI.
One of the conditions was that the Company's common stock meet the $1.00
minimum bid price.  To comply with this last requirement, on December 18,
1998, the Company effected a one-for-six reverse split, which had been
previously approved by its shareholders on May 26, 1998.  The Company
satisfied each of the other conditions required by Nasdaq, with the exception
of the requirement that it consummate the pending merger with DCI on or before
March 31, 1999.
    The Company asked Nasdaq to remove any further conditions to the continued
listing of its Common Stock or, in the alternative, permit an extension
through June 30, 1999 to either consummate the merger with DCI or demonstrate
its ability to satisfy all continued listing requirements.  The last request
was denied by the listing qualifications panel, which cited the Company's
failure to satisfy the merger requirement and other factors.  The Company then
announced that it had terminated the merger agreement with DCI pursuant to its
terms because Wavetech had determined that it was not reasonably likely that
the conditions to the merger would be satisfied prior to the expiration of the
merger agreement.  It was also previously announced that the SEC suspended
trading in DCI's stock through May 14, 1999.
    Wavetech  remains committed to building a viable business under the
recently announced licensing agreement with Softalk Inc.  Softalk's technology
is based on Microsoft's NT operating system, which Softalk believes will play
an important role in redefining the next generation of communications systems.
    Gerald Quinn, President and CEO of Wavetech, said, "Softalk's technology
is the future -- it's where telecom is heading.  Softalk is already providing
services in the marketplace and we intend to quickly establish market share
and grow revenues using that technology."
    Wavetech International, founded in 1993, is a facilities-based
communications company.  In May 1999, Wavetech changed its business focus from
traditional calling card services to next generation long distance services
using Internet Protocol (IP).  Wavetech delivers integrated voice, fax and
data over a variety of digital networks, including the Internet, frame relay,
dedicated data or traditional circuit-switched networks to corporate,
wholesale and retail clients.  The Company's services utilize proprietary
software developed by Softalk, Inc.  Through a worldwide licensing agreement
with Softalk, Wavetech also provides marketing, sales, customer service and
online billing for both Wavetech and Softalk clients.
    This press release contains certain forward-looking statements made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995.  This information may involve risks and uncertainties that
could cause actual results to differ materially from such forward-looking
statements.  Factors that would cause or contribute to such differences
include, but are not limited to, those factors detailed by Wavetech in its
filings with the Securities and Exchange Commission.

    CONTACT:  Bill Roberts, 937-434-2700, or Ken Paneral, 847-729-8521,
              both of CTC, Inc.

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