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[Frohlich]

SYMY - huge pr, 138 million, after the bell

http://biz.yahoo.com/bw/000927/symphony_t.html

SYMPHONY TELECOM INTERNATIONAL
TO ACQUIRE NORTH AMERICAN GATEWAY

Revenues: $50 Million USD Last Year, $138 Million USD Projected for This Year.

TORONTO, CANADA, Sept. 28, 2000 - Symphony Telecom International, Inc. (OTC - BB: SYMY), announced the signing of an agreement to acquire North American Gateway, Inc. of Toronto, Canada and London, U.K.

North American Gateway reported total audited Revenues of $275,960,000 (CDN), $184,900,000 (USD) for the past 3 years on mainly voice services with a growing base of revenues on a multi-services international backbone network.

North American Gateway is an international telecommunications service provider based in Toronto, operating worldwide as a global "Carrier's Carrier" delivering long distance and data services to other telecommunications companies. The company has primary switching facilities in Toronto, NYC, and London, UK.

Working with Nortel Networks (NYSE: NT), the company has been investing extensively in their network infrastructure. Remote facilities are being installed, or planned, in 30 countries to deliver voice and data services. As each remote facility is turned on, the company gains significant additional revenue and increased profitability. North American Gateway, Inc. has projected revenues of $138,000,000 (USD) for this fiscal year.

Terms of the agreement were disclosed as $33 million USD for Symphony to acquire 57.24% of the outstanding shares of North American Gateway with cash and Preferred shares or notes of Symphony redeemable at various dates in the future with conversion rights into SYMY common shares at the equivalent of $10 per share. (Fully converted this would be a maximum of 2.2 million shares). All proceeds are to be utilized to finance North American Gateway's growth and business plan. The final closing terms are subject to audit.

"This acquisition puts us substantially ahead of our initial projections" said Gilles A. Trahan, Chairman & CEO of Symphony Telecom International, Inc. "North American Gateway has relationships with telco's around the world, which will enable Symphony to enter into new markets internationally deploying its global data and voice services. We are very excited about our recent acquisitions, and anticipate announcing several other acquisitions and major developments just ahead."


About Symphony Telecom International Inc.

Symphony Telecom International, Inc. is a business to business telecom solutions provider dedicated to delivering the full power of the next generation global network to the desktop. Symphony Telecom International has positioned itself to become North America's first international Next-Generation Telco, leveraging emerging technology over the increasingly global and sophisticated high speed Internet that continues to evolve in quality and expand in size.

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 More Information Contact:

Alexander Grant & Associates Inc.
PHONE: [phone] / FAX: [phone]
160 International Parkway, Suite 250, Heathrow FL 32746



Gilles A. Trahan
Chairman, C.E.O.
Email: [e-mail]

Symphony Telecom International Inc.
"The Sound Choice in Communications"

Phone: [phone].
Fax [phone]
Visit our website at: www.symphony.net