EXHIBIT 99
PRESS RELEASE, DATED NOVEMBER 17, 2000.
EUROTELECOM COMMUNICATIONS SIGNS LETTER OF INTENT TO ACQUIRE
INTELECT NETWORK TECHNOLOGIES
EuroTelecom Communications, Inc. (Trading Symbol-EUTC; Class A Stock quoted on
the Alternative Investment Market of the London Stock Exchange as ETMA) has
signed a letter of intent with Intelect Communications of Richardson, Texas
(NASDAQ:ICOM) to acquire Intelect's private optical networking subsidiary,
Intelect Network Technologies. It is expected that the consideration for this
acquisition will be a combination of cash and stock.
This press release contains forward-looking statements. Such
statements are based on the current expectations and beliefs of the management
of EuroTelecom Communications, Inc. and are subject to a number of factors and
uncertainties that could cause actual results to differ materially from those
described in the forward-looking statements.
5
