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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
June 4, 1998
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Date of Report (Date of earliest event reported)
STARTEC GLOBAL COMMUNICATIONS CORPORATION
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(Exact name of registrant as specified in its charter)
Maryland 0-23087 52-1660985
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(State or other (Commission (IRS Employer
jurisdiction of File No.) Identification
Incorporation No.)
10411 Motor City Drive Bethesda, Maryland 20817
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
301-365-8959
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Not applicable
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Former name or former address, if changed since last report)
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Item 5. Other Events.
The Company issued the accompanying press release dated June
4, 1998, announcing that it had signed 12 additional
international operating and interconnection agreements since the
Company's intial public offering in October 1997.
Item 7. Financial Statements and Exhibits.
1. Press Release dated June 4, 1998.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, as amended, the Registrant has duly caused this Report
to be signed on its behalf by the undersigned thereunto duly
authorized.
STARTEC GLOBAL COMMUNICATIONS CORPORATION
By: /s/ PRABHAV V. MANIYAR
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Prabhav V. Maniyar
Senior Vice President and Chief
Financial Officer
Dated: June 15, 1998
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EXHIBIT INDEX
Exhibit No. Description Page
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1. Press Release dated June 4, 1998.
EXHIBIT 99.1
Company Press Release
STARTEC GLOBAL COMMUNICATIONS CORPORATION ANNOUNCES
12 ADDITIONAL INTERNATIONAL AGREEMENTS
Contact: Prabhav V. Maniyar
Chief Financial Officer
(301) 365 - 8959
Bethesda, MD (June 4, 1998) --- Startec Global Communications
Corporation (NASDAQ: STGC) announced that it has signed 12
additional international agreements since its initial public
offering in October 1997, bringing the total number of
international operating and interconnection agreements to 19.
These agreements will help maximize and diversify the Company's
termination options, and provide direct connections with
developing regions of the world. In conjunction with the
Company's planned deployment of facilities in the U.S., Canada,
and Europe, Startec Global's addressable market will increase
from $1 billion to $20 billion in international long distance
revenues. This market, consisting of traffic originating in the
U.S., Canada, and Western Europe and terminating in newly
emerging economies, is predicted to increase to approximately $41
billion in 2001.
"These agreements are part of Startec Global's aggressive plan to
develop termination options in countries that are home to the
ethnic niche markets that the Company serves in the United
States," said Ram Mukunda, Chief Executive Officer of Startec
Global. "Once we have completed our international expansion, our
revenue base will consist of markets throughout the U.S., Canada,
and Western Europe. These markets will consist of callers who
primarily call to the developing world."
The operating and interconnection agreements provide Startec
Global with strong regional coverage in key parts of the
developing world: Southeast Asia, the Middle East, Sub-Saharan
Africa, as well as Russia.
"Traffic volumes in the developing world are expected to increase
due to a variety of factors," said Anthony Das, Vice President
for Corporate and International Affairs. "The increase in
teledensity, or the number of telephone lines in place, is
expected to lead to a dramatic rise in the volume of telephone
traffic. As the telephone monopolies in these countries
deregulate, there are numerous opportunities for emerging
carriers. These agreements provide Startec with significant
first-mover advantages."
Startec Global Communications Corporation is a facilities-based
international long distance carrier, which markets its services
to select ethnic U.S. residential communities. The Company
provides its services through a flexible network of owned and
leased transmission facilities, resale arrangements and a variety
of operating agreements and termination agreements, allowing the
Company to terminate traffic worldwide.
Except for the historical information contained herein, this
release contains forward-looking statements which are based on
current expectations and which may differ materially from actual
results. These forward-looking statements fall within the scope
of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended,
and are subject to the safe harbors created thereby.
Forward-looking statements include, but are not limited to, those
statements regarding management's plans, marketing strategy,
targets and strategy for future expansion, and future fiscal
performance. The Company's actual results could differ
materially from those anticipated by the forward-looking
statements as a result of certain factors such as, change in
market conditions, government regulation, technology, the
international telecommunications industry, and the global
economy; availability of transmission facilities; management of
rapid growth; entry into new and developing markkets;
competition; customer concentration and attrition; and the
expansion of the global network. These risk factors are
discussed in further detail in the Company's SEC's filings,
including the prospectus relating to Company's initial public
offering (SEC File. No. 333-32753), Annual Report on Form 10-K
for the year ended December 31, 1997, and Quarterly Report on
Form 10-Q for the three months ended March 31, 1998.
