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Re: LaShark post# 69

Tuesday, 09/26/2000 9:04:29 AM

Tuesday, September 26, 2000 9:04:29 AM

Post# of 122
SYMY...GREAT NEWS JUST OUT!!!

Symphony Telecom Signs Agreement to Acquire Telemax Communications, Inc. of Canada

Recent Partnership Adds US and European Markets


TORONTO--(BUSINESS WIRE)--Sept. 26, 2000--Telemax Communications Inc., one of Canada’s largest and fastest-growing marketing and distribution companies of prepaid telephone calling cards, and Symphony Telecom International, Inc. (OTC.BB: SYMY), have reached an agreement in which Symphony acquires a 61.5% equity interest in privately held Telemax. The prepaid phone card business has grown into a billion dollar a year industry in less than four years. This makes prepaid phone cards the fastest growing segment of the multi-billion dollar telecommunications industry, that appeals to consumers, businessmen and travelers who seek a convenient, inexpensive and confidential way to place long-distance and international calls.

About Telemax

Since its founding in 1997, Toronto-based Telemax ( www.telemaxcanada.com ), has targeted its product mix toward Canada’s many ethnic and business communities, providing them with an economical and convenient means of communicating with their friends and relatives at home and abroad. In fiscal 1998-99, Telemax generated total revenues of C$2,965,797, soaring to C$9,393,244 in fiscal 1999-2000, a year-to-year increase of more than 310%. The company has recently signed agreements that added both the US and European markets. Telemax has projected revenues for this fiscal year of approximately $30 Million CDN ($20 Million US).

Terms of the transaction include $2,000,000 US worth of preferred shares convertible in SYMY common shares in one year at the then current market price, as well as one million warrants to purchase SYMY common shares at a 30% discount to the closing price, no earlier than 6 months and expiring in one year. Performance incentives are also in place for the Telemax principals when reaching certain sales and earnings targets.

Asked about his reasons for favoring his company’s majority acquisition by Symphony, Mr. Ali Vakili, president of Telemax, replied: “We believe that Telemax’s strategy of tailoring communications services for specific markets will continue to deliver phenomenal growth, especially when we expand by developing products targeted toward the vast ethnic and varied business communities in the United States. By partnering with Symphony, especially as it expands its domestic and international transmission capabilities. Telemax looks forward to significantly lowering the cost of the telecommunications services that we sell. We expect the combination of lowering costs and increasing sales, will dramatically impact Symphony’s bottom line.”

Gilles A. Trahan, Symphony’s CEO, added “A significant part of Symphony’s strategy is to market its telecommunications capacity through every cost-effective channel, since once fixed costs are covered, most of every additional revenue-minute falls directly to the bottom line. Acquiring a majority-interest in Telemax marks Symphony’s initial entry onto the prepaid calling card channel, which we expect to become a significant component of our marketing mix in years to come. This is one of several acquisitions and major developments to be announced in the near future.”

Recent Developments

Symphony recently announced that they have completed the purchase of the controlling interest in Directory Management America.com. The company is a marketing communications company which provides advertising services, specifically to yellow pages and e-commerce advertising agencies throughout the USA and Canada, which gives national support for businesses. DMA.com's management includes Herman Tambeau and Alphonse Verrault, both previous holding management positions with Bell Canada.

Although it is in the start-up phase, the Company has already secured contracts valued in excess of $6 Million (US). Symphony and DMA.com foresee excellent synergies and cross-marketing opportunities in the complimentary nature of their product lines. Projected revenues for DMA.com next fiscal year exceed $15 Million (US).

About Symphony Telecom International Inc.

Symphony Telecom International, Inc. is a business-to-business telecom solutions provider dedicated to delivering all the benefits of the Next-Generation Global Telecommunications Network to its valued customers worldwide. Symphony Telecom International is positioning itself to become North America's foremost Next-Generation Telco, leveraging emerging technologies into a global, sophisticated, and user-friendly array of quality services centered on high speed Internet, Wireless and VoIP.

Website: http://www.symphony.net

Information in this press release contains "forward-looking statements." These statements involve risks and uncertainties that could cause actual results to differ materially. There is no assurance the above-described events will be completed. There can be no assurance of the ability of the company to achieve sales goals, obtain contracts or financing, consummate acquisitions or achieve profitability in the future. The above and additional factors are discussed in detail in the company's filings with the SEC.



For additional information, please contact:

Gilles A. Trahan Phone: 888-479-6746 /416-366-5221.
Chairman and CEO Fax 416 366-2245
Symphony Telecom International, Inc. Email: ceo@symphony.net

“The Sound Choice in Communications”
Website: http://www.symphony.net





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