AccessTel Inc.'s Board To Select the Best Institutional Financial Offer
Thursday March 8, 10:10 pm Eastern Time
Press Release
AccessTel Inc.'s Board To Select the Best Institutional Financial Offer
LOS ANGELES--(BUSINESS WIRE)--March 8, 2001--AccessTel Inc. (OTCBB:ATEL - news), today announced that it has received multiple offers, each over $10,000,000.00 from Institutional Financial Groups ready to fund its future expansion of Broadband Wireless Infrastructure in China. The Board of Directors of AccessTel Inc. will vote on the approved terms and conditions of each offer. The Board expects to announce their final decision early next week.
Testing is continuing in China with AccessTel Inc.'s customers. AccessTel China Inc.'s marketing program is underway and further buildings are anticipated to be connected in the near future.
``We are extremely pleased by the offers of funding received from Major Institutional Financial Groups,'' stated Lawrence Liang, CEO and President of AccessTel Inc. ``This first intuitional funding commitment will allow AccessTel Inc. to accelerate the installation of our Broadband Infrastructure.''
Forward-looking statements in this release are made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the company's products and technological changes, the company's dependence upon third-party suppliers, intellectual property rights and other risks detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission.
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Contact:
AccessTel Inc.
Lawrence Liang, 408/216-4754
