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CONTACT:
TELECOMM INDUSTRIES CORP.
NICHOLAS BACON
PHONE: (317) 202-3000
TELECOMM INDUSTRIES CORP. PRESIDENT AND CEO RESIGNS TO
FOCUS ON PENTASTAR TRANSACTION;
INTERIM CEO APPOINTED
Indianapolis, Indiana -September 22, 2000 - Telecomm Industries Corp. (TCMM:OTC
BB) announced that Paul J. Satterthwaite resigned as President and CEO of
Telecomm in order to focus his energies on the earn-out associated with the
previously announced transaction with PentaStar Communications, Inc. (NASDAQ:
PNTA). Mr. Raymond W. Sheets, Chairman of the Board has been appointed as CEO
until such time as the Company names a permanent replacement.
Paul Satterthwaite stated, "In as much as I have enjoyed my role as President
and CEO, the earn-out associated with the PentaStar transaction is much too
important to both Telecomm and PentaStar to give it anything less than 100% of
my time and attention. I will remain actively involved with Telecomm in my role
as a director, and have complete confidence that with Mr. Sheets' involvement,
the Company will not miss a beat."
Telecomm Industries is an interconnect company, a Value Added Reseller and an
Internet Enterprise Solution Provider. The company markets, installs and
maintains telecommunications and data communications equipment for its business
customers. The company represents several globally recognized equipment
manufacturers including Cisco, Nortel, Lucent, Toshiba, NEC, Comdial, Adtran,
and Ascend. Also, through its subsidiary NetVision.Com Inc., dba Digicove,
Telecomm operates a full service Internet Enterprise Service Provider (IESP).
IESPs combine the Internet access products of an Internet Service Provider and
the applications products of an Applications Service Provider. As an IESP,
NetVision not only delivers high speed Internet access to its business
customers, but also focuses on business-to-business electronic commerce, web
design and development and the web based delivery of software applications.
Visit the company's website at www.tcmm.com.
PentaStar designs, procures and facilitates the installation and use of
communications services solutions that best meet customers' specific
requirements and budgets. PentaStar was formed in March 1999 to become a
national communications services agent and specializes in being the single
source provider of total communication solutions for its business customers.
PentaStar's common stock is traded on the Nasdaq National Market under the
ticker symbol PNTA. For more complete information about PentaStar, contact
PentaStar Communications, Inc., 1660 Wynkoop St., Denver, Colorado 80202, (303)
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825-4400, visit the company's website at www.pentastarcom.com or send an e-mail
to [email protected].
Certain statements contained in this report that are not historical facts are
forward-looking statements that are subject to certain risks and uncertainties
that could cause actual results to differ materially from those set forth in the
forward-looking statements. Reference is made to the Company's filings with the
Securities and Exchange Commission, including the Company's annual report for
fiscal 1999 on Form 10-KSB and the Company's quarterly report for the second
quarter of 2000 on Form 10-QSB. Investors should read this release in
conjunction with these filings for a description of these and other factors that
could cause actual results to differ materially from those in the
forward-looking statements.
