TUCSON, Ariz., Dec. 7 /PRNewswire/ -- Wavetech International, Inc.
(Nasdaq: ITEL) today announced that DCI Telecommunications, Inc.
(OTC Bulletin Board: DCTC) has formed an alliance with IXC Communications,
Inc. (Nasdaq: IIXC) that will elevate DCI to the status of a global carrier
and support the dramatic growth in DCI's traffic worldwide.
On November 6, 1998 Wavetech announced that it had signed a definitive
agreement to merge with DCI Telecommunications, in a move to become a larger
and profitable company. DCI is an international provider of
telecommunications services, including long distance, prepaid telephone cards
and Internet services. It has an extensive distribution network throughout
North America, Europe and the Far East, owns telephone switching facilities in
Canada, the United Kingdom, Spain and Denmark, and has 12 operating facilities
serving customers in eight countries. DCI recently reported revenues of
$17 million for the first six months of its current fiscal year, versus
$5.8 million in the comparable prior-year period.
Gerald I. Quinn, President and CEO of Wavetech International stated, "The
DCI and IXC agreement is a big step forward for DCI to become a major presence
in the dynamic international telecommunications community. The DCI / IXC
agreement will have a positive impact on the roll-out of Interpretel products
and services post merger." Quinn added, "This alliance is a perfect example
of how the planned merger with DCI will benefit Wavetech shareholders."
Wavetech International, Inc. is a facilities based telecommunication
company. It is the developer and the distributor of Interpretel calling card
products and is engaged in the resale of international long distance minutes.
The Company's advanced computer/telephony network provides subscribers a
single point of access to a broad range of communications and information
services. Wavetech markets its services in the United States and Canada under
the Interpretel(TM) name and through other customized or co-branded
initiatives with other organizations.
Forward-looking statements in this news release are made pursuant to the
"safe harbor" provisions of federal securities laws. Readers are cautioned
that actual results may differ substantially from forward looking statements.
Forward-looking statements involve risks and uncertainties including, but not
limited to fluctuation of sales, level of customer demand, competitive
pressures and other risks detailed in the Company's periodic report filings
with the Securities and Exchange Commission. Many of these risks are beyond
the control of the Company. The Company has no obligation to update or revise
the information set forth in this news release.
SOURCE Wavetech International, Inc.
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Company News On-Call:
http://www.prnewswire.com/comp/111429.html or fax,
800-758-5804, ext. 111429
CONTACT:
Richard Freeman, 520-750-9093 ext. 203,
rfreeman@interpretel.com, Investor Relations for Wavetech
International, Inc.
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