ARES - VEGAS, May 13, 2003 /PRNewswire-FirstCall via COMTEX/ --
AmeriResource Technologies Inc. (OTC Bulletin Board: ARES) and Montel Technologies Corporation announced their signing of a Letter of Intent to create two new corporations that will provide high-speed internet solutions to major hotel chains. The agreement is subject to the final approval of each company's Board of Directors.
Mr. Janovec, President of AmeriResource Technologies stated, 'Business travelers, as well as non-business travelers, increasingly think of high-speed Internet connectivity in their hotel rooms as a necessity rather than a convenience. There are thousands of hotels that need to add this service in order to accommodate the expectations of their guests.'
According to a consumer survey by Forrester Research (October 2002), more than four in ten business travelers want broadband Internet access in their rooms.
'Montel Technologies Corporation, under the direction of founder and President, Ray Montelongo, has developed a package of high-speed services that goes far beyond standard DSL or ISDN or cable modem technologies, at a cost which is very attractive to hotels. In addition, without the need to rewire the hundreds of rooms per hotel, the implementation timelines for adding these high-speed capabilities are very short,'continued Mr. Janovec.
Mr. Montelongo stated, 'We are pleased to be joining with AmeriResource Technologies in the new venture. As a result of launching the new business units, we'll be able to provide high-speed Internet access to more hotels through a managed business expansion. We feel that this is a good relationship for everyone, and positions us to better serve an expanding customer base within the Hospitality Industry across the nation.'
About AmeriResource Technologies Inc. ('AmeriResource'): AmeriResource is a publicly trading company (OTC Bulletin Board: ARES) that operates two wholly owned subsidiaries: Jim Butler Performance (JBP) and West Texas Real Estate and Resources, Inc. (WTRER). JBP is in the business of manufacturing and selling high-performance specialty engines and parts for the automobile racing industry. For more information, see www.jbp-pontiac.com . WTRER holds oil, gas, and mineral leases on land in Pecos County, Texas. AmeriResource is currently in discussions with qualified merger-acquisition candidates in the areas of Homeland Security, Energy, and Travel &Entertainment, as well as special projects in other areas of interest. For more information, see www.ameriresourcetechnologies.com
About Montel Technologies Corporation ('Montel Technologies'): Montel Technologies is a provider of Information Technologies (IT) primarily for the hospitality industry. Montel Technologies uses proven technologies that combine voice, video, data, and security on high-speed networks. Clients include Hilton, Marriott, and Intercontinental Hotels. Montel Technologies employs the best-available technologies to provide low-cost solutions that include in-room high-speed Internet connections with configuration-free plug-and-play access, secure centralized printing, and 24/7 professional technical support. Montel Technologies has a core staff of highly skilled certified engineers and professional project planners. Their services include network design and implementation, detailed IT documentation, remote network administration, network usage statistical reporting, and 24/7 technical support. In addition to serving the hotel/hospitality industry, Montel Technologies also delivers cost-effective high-speed wired and wireless networks to airports, shopping malls, convention centers, apartments, timeshares, and restaurants. Montel Technologies is certified as a Small Disadvantaged Business (SDB) under U.S. Small Business Administration (SBA) guidelines. For more information, see www.montel-technologies.com
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