Information-Highway.com Inc. Aquires GlobalTEL
For Immediate Release: VANCOUVER, BC --April 7, 1999-- Information-Highway.com Inc. (OTCBB: IHWY), today announced the acquisition of GlobalTEL's (Global Network Telephony Corp.) assets and intellectual property in order to jumpstart Information-Highway's new Voice-Over-IP solution for Internet Portals.
In addition, Information-Highway.com will retain Erik Lagerway, president of GlobalTEL, to spearhead the company's Voice over IP business.
GlobalTEL (http://www.globaltel.net) has developed an IP Telephony solution offering complete turnkey gateways including internet-to-phone, internet-to-fax, phone-to-internet-to-phone, email-to-phone, and voice recognition services. The company's software allows Internet users to make long distance telephone calls over the Internet at a substantially reduced cost than normal phone service as provided by AT&T, MCI, or Sprint.
John Robertson, president and chief executive officer of Information-Highway.com stated, "We have been actively searching for an opportunity to integrate VoIP (Voice over Internet Protocol) into our core Internet Portal applications. The acquisition of GlobalTEL’s hardware & software, in conjunction with Mr. Lagerway's expertise in the field, will allow us to do this in an efficient and effective manner. With our existing infrastructure of POPs and V-POPs a global rollout of our new Internet Portals with VoIP is expected late summer to fall 1999."
According to SRI Consulting, one of the most widely recognized authorities on the subject, Internet Telephony services will capture a conservative 5% of all the long distance calls world-wide by year 2002. The overall market for IP Telephony including services hardware and software is projected to amount to $9 Billion (US) by the year 2003. Frost & Sullivan see the industry growing from $19 Million in 1996 to over $1.5 Billion by 2001. Extrapolating from the limited subset of data, the Global Internet Gilder Technology Group suggests close to a ten-fold annual growth rate in the industry and Information-Highway.com intends to capitalize on the growth potential seen all over the world.
Information-Highway.com has a distinct advantage over leaders in the Voice Over IP industry because the company is able to provide its Internet-based telephone calls to users for free and generate advertising and commerce revenues on its Executive Club portal pages instead of charging users directly for long-distance phone calls. Information-Highway.com competes directly with IP Telephony leaders including Dialogic (NASDAQ: DLGC), IDT Corp. (NASDAQ: IDTC), NetSpeak Corp. (NASDAQ: NSPK), Qwest Communications (NASDAQ: QWST), Vocaltec (NASDAQ: VOCLF), and Intel (NASDAQ: INTC).
About Information-Highway.com, Inc.
Information-Highway.com, Inc. is a leading ISP engaged in Web content development and Internet access. The company provides dial-up and dedicated Internet access as well as Web site hosting to over 20,000 U.S. and Canadian users.
Information-Highway.com's premiere online service, The Executive Club, is a localized regional Internet portal that can save users vast amounts of time by allowing them to access stock quotes, weather forecasts, community events, online trading, Web searches, multicasting, and shopping -- all from one place.
Information-Highway.com's Executive Club Portal competes directly with localized portals developed by Citysearch (Nasdaq:TMCS), Snap.com (Nasdaq:CNET), and Planet Direct, a wholly-owned subsidiary of CMGI (Nasdaq:CMGI - news), as well as multi-national portals including Yahoo! (Nasdaq:YHOO) and Excite (Nasdaq:XCIT
Interested parties may join The Executive Club for free at http://www.theexecutive.com and can find more information about Information-Highway.com Inc. on the company's Web site at http://www.information-highway.com. Information-Highway.com Inc. has been featured in Internet Stock News (http://www.internetstocknews.com) one of the Web's leading free publications for Internet Stock investors.
CONTACT:
John Robertson
Information-Highway, Inc.
1-800-665-4616
Dan
Mutters
IP Equity Investor Relations
http://www.ipequity.com
ir@information-highway.com
1-800-997-3323
Except for the historical information contained herein the matters discussed are forward looking statements made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risk and uncertainty, such as quarterly or other periodic fluctuations in operating results, market acceptance or the company's products and services, and the impact of competitive product and pricing and other uncertainties set forth in the company's filings with the Securities and Exchange Commission. These risks and uncertainties could cause actual results to differ materially from any forward-looking statements herein.





