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FOR IMMEDIATE RELEASE: February 11, 2003
(BW)(AZ-GLOBAL-COMMUNICATIONS) Global Communication Services Inc. -GCS- Continues Forward with the 'Slingshot' Brand of Prepaid Internet
Business Editors/High-Tech Writers
PHOENIX – (BUSINESS WIRE) – Feb. 11, 2003 — Global Communication Services Inc. (GCS), an industry leader in networking and communication services announced today that it has successfully completed the acquisition of assets from Slingshot Communications Inc., a Seattle-based company that established itself as a leader in prepaid Internet technology.
Global Communication Services (GCS) has decided to continue promote the "Slingshot" product name in its mission to further the marketing objectives of the original "Slingshot" prepaid Internet product. Namely, GCS intends to fill the demand from consumers who want a low-cost Internet solution without the hassles of the traditional dialup ISPs here in the United States.
The market that the prepaid Internet suite of products is focused on includes:
- Cash-based consumers
- No contractual obligation
- Occasional users of the Internet
- Business travelers
- Businesses looking for high-tech ways to promote their business
- Cable, DSL, and ADSL users who require a backup method of access for when their connections are down or they are away from their home service provider.
The current president and CEO of GCS, David Vindici, commented, "We have great expectations for the Slingshot product. Since the acquisition, we immediately initiated the cost based and network capacity changes needed in order to handle in excess of 3 million users. Additionally, we have executed agreements for distribution that will place the Slingshot brand name in over 40,000 retail locations nationwide by the end of the second quarter of 2003. Furthermore, we have enhanced the features of the product to include local access from over 100 countries, giving Slingshot a true global presence."
Editor's Note:
In August 2001, Juniper Media Matrix reported that there are currently 51 million households in the United States using dial-up access. IDC Research reported in May 2001 that there will be almost 1 billion people using the Internet around the world by 2005. In the United States alone more than 5 million dial-up modem customers change their existing provider each year through attrition. Additionally, the prepaid Internet market has been estimated to surpass the prepaid calling card industry in volume, reaching more than $500 million in the United States within the next two years.
About Global Communication Services Inc. (GCS):
Global Communication Services Inc. works closely with specialized business partners and represents skills and competencies in a wide range of products and services, which are building blocks for the integrated total customer solutions. With excellent innovative skills in using the latest state-of-the-art technology, and acting as a broker and integration manager, GCS creates heterogeneous and multidiscipline solutions out of products and services that vendors, resellers and third parties offer.
Additionally, GCS builds and manages standard and custom-made electronic communication services for clients with specific needs for being "in touch" with their customers and business partners. The solutions that GCS builds are flexible, scalable and reliable, and offer clients all kinds of managed communication services through the operational services organization. The services offered to enterprises and service providers are:
- Application services and products
- Co-location services
- Access and ISP services
- Backbone and network services
- Businesses looking for high-tech ways to promote their business
- Cable, DSL, and ADSL users who require a backup method of access for when their connections are down or they are away from their home service provider.
GCS clients include Application Service Providers, Internet Service Providers, corporations, organizations, and governmental bodies.
For more information, visit www.gcs-us.com.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Except for any historical information, the matters discussed in this press release contain forward-looking statements that reflect the company's current views regarding future events. These forward-looking statements involve risks and uncertainties that could affect, among other things, the company's growth, operations, markets, products and services. The company cannot be sure that any of its expectations will be realized. Factors that may cause actual results, performance or achievement to differ materially from those contemplated by its forward-looking statements include, without limitation: 1) the success of the company in negotiating with lenders and other creditors; 2) obtaining legal approvals, including those of the FCC and state regulatory agencies; 3) the volatility of the market, including changes in the valuations of other telecommunications companies; 4) the company's ability to successfully implement its new business plan; 5) the ability of the company to hire or retain qualified personnel to operate its business; 6) the impact of changes in telecommunication laws and regulations; 7) the success the company has in gaining regulatory approval for its regulated products and services, when required; 8) the ability of the company to adjust to rapid changes in technology and to prevent misappropriation of its technology; 9) the intensity of competition in the markets in which the company provides services and its ability to attract and retain a sufficient number of revenue-generating customers in such markets; 10) the company's ability to obtain new retail locations; 11) general economic conditions and the condition of the financial market particularly within the communications and technology sectors which have historically been extremely volatile.
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CONTACT: Global Communication Services Inc., Phoenix
Scott Smith, 480.367.9000
E-mail: ssmith@gcs-us.com
KEYWORD: ARIZONA
INDUSTRY KEYWORD: E-COMMERCE INTERNET COMPUTERS/ELECTRONICS PRODUCT
SOURCE: Global Communication Services Inc.
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