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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
Date of Report (Date of earliest event reported): AUGUST 31, 1998
HIGHWAYMASTER COMMUNICATIONS, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 0-26140 51-0352879
(State of other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
16479 DALLAS PARKWAY, SUITE 710, DALLAS, TEXAS 75248
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (972) 732-2500
NOT APPLICABLE
(Former name or former address if changed from last report)
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ITEM 5. OTHER EVENTS.
HighwayMaster Corporation ("HighwayMaster"), the sole operating
subsidiary of HighwayMaster Communications Inc., announced today that it is
halting the development of AutoLink service and will not launch AutoLink in late
1998 as previously anticipated. There can be no assurance that the halt of the
AutoLink development and cancellation of the service launch for AutoLink will
not have a material adverse effect on the business, prospects or results of
operations of HighwayMaster.
For additional information regarding the foregoing matters, reference
is made to the press release issued by HighwayMaster on August 31, 1998, a copy
of which is attached as an exhibit hereto.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
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Exhibit
Number Description
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99 Press Release dated August 31, 1998
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.
HIGHWAYMASTER COMMUNICATIONS, INC.
(Registrant)
By: /s/William C. Saunders
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William C. Saunders
President
Date: September 1, 1998
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INDEX TO EXHIBITS
EXHIBIT SEQUENTIAL
NUMBER DESCRIPTION PAGE NUMBER
99 Press Release dated August 31, 1998
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Exhibit 99
FOR IMMEDIATE RELEASE:
CONTACT: Jana Bell
(972) 732-2500
www.highwaymaster.com
HIGHWAYMASTER HALTS AUTOLINK DEVELOPMENT
DALLAS, AUG. 31, 1998 -- HighwayMaster Corp., a wholly owned subsidiary
of HighwayMaster Communications Inc. (NASDAQ: HWYM), announced today that
it is halting the development of AutoLink service and will not launch
AutoLink in late 1998 as previously anticipated. Factors cited by the
company which contributed to the decision include the fact that no orders
have been obtained for sales of the AutoLink product to the OEM market,
resulting in an inability to achieve economies of scale in the product and
infrastructure for the aftermarket. In addition, HighwayMaster's strategic
partner in the venture has indicated that it will not be proceeding with
HighwayMaster. The choice to halt the AutoLink launch is consistent with
HighwayMaster's previously announced decision to reevaluate every aspect of
its business and product line and invest in those with the most immediate
possibility for revenue and profits. The company's directors are continuing
to evaluate changes which may be needed and the likely impact on the
company's future operations.
HighwayMaster has indicated that the concept of automotive emergency
and roadside assistance systems remains a viable opportunity in the longer
term, assuming it is able to obtain support from a strategic partner and is
able to secure an OEM contract.
ABOUT HIGHWAYMASTER
HighwayMaster is the only nationwide mobile communication system that
offers the trucking industry both voice and data communications, combined
with Global
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HWYM HALTS AUTOLINK-PAGE 2
Positioning System (satellite) vehicle location technology. HighwayMaster's
award-winning Series 5000 mobile communications system is one of the most
advanced products available to the transportation industry. Recent product
enhancements such as Rolling ETA, in-cab Fax capabilities, and the
industry's only end-to-end, automated fuel tax reporting system continue to
distinguish the patented HighwayMaster technology. Since entering the
market, HighwayMaster has been widely recognized as a top technological
innovator by both the North American transportation and telecommunication
industries.
Through strategic alliances with wireless industry leaders such as GTE,
Southwestern Bell Mobile Systems and more than 70 cellular providers,
HighwayMaster has created the world's largest private instant-call-delivery
enhanced-cellular network in existence today, providing seamless wireless
services in more than 99 percent of the available cellular coverage areas
in the United States and 100 percent of the A-side cellular coverage areas
in Canada.
HighwayMaster Corp. sells and markets its patented system throughout
the United States and Canada.
# # #
(HWYM217)
HighwayMaster is a federally registered trademark and service mark of
HighwayMaster Corporation. This product is covered by U.S. Patent Numbers
5,155,689; 5,299,132; 5,398,190; 5,454,027; 5,513,111; 5,519,621;
5,539,810; 5,544,225; 5,579,376; 5,694,322; 5,699,275;5,724,243;5,734,981
and 5,652,707 as well as other U.S. and international patents pending and
issued.
