FUENGIROLA, Spain, Jan. 30, 2004 (PRIMEZONE) -- Spantel Communications, Inc. (OTCBB:SPAL), announced today that they have entered into a multi faceted agreement with one of Spain's leading alternative telecommunications operators. The agreement reached with GLOBATEL, whose primary market is in the Balearic and Canary Islands, with a combined population in excess of 2.5 million, is a vital key in Spantel's expansion program throughout Spain.
As part of the agreement, GLOBATEL will market Spantel's new prepaid calling card to its customers and through their own network of authorized agents. The Balearic and Canary Islands are some of the most popular tourist destinations in Spain, with an estimated 30 million visitors arriving yearly. GLOBATEL will also market the card to established landline customers and target other telephone operators on the islands wishing to offer prepaid services under their own "private label."
The agreement also enables Spantel route GLOBATEL's voice business through its own network, which is expected to increase voice traffic by approximately 20%. "This strategic agreement that will give Spantel vital market share in these regions, and most importantly, continue our aggressive plan to become one of Spain's premiere carriers," says Spantel's President Jose Ramon Basterra. "After just concluding our first year of profitability, the company is now in its best financial position to focus our growth through acquisitions. We are very excited by the opportunities that will present themselves in 2005."
Spantel Communications is a provider of telecommunications services through out Spain.
Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from forecasted results. Those risks include, among other things, the competitive environment in the telecommunications industry in general and in the Company's specific market areas, inflation, changes in costs of goods and services and economic conditions in general. Those and other risks are more fully described in the Company's filings with the Securities and Exchange Commission.