FUENGIROLA, Spain, Feb. 3, 2004 (PRIMEZONE) -- Spantel Communications, Inc. (OTCBB:SPAL) entered into an agreement with ITC COMUNICACIONES, a telecommunications company whose primary focus is in retail telephone calling centers. The company has a network of 100 shops primarily in northwest Spain, who use their products and services, which will give Spantel an immediate presence in the region.
As a part of this agreement, Spantel will route all of ITC's customer traffic which is expected to increase revenues by as much as 15%. Spantel will also offer the newly introduced pre-paid calling card at the network of shops providing immediate exposure in this very important marketplace. Additionally, Spantel will begin marketing all of its services directly to medium sized companies and various state agencies in this important part of Spain.
Management Perspective
"We are very excited about our expansion plan for Spain through an aggressive acquisition plan. Many of the alternative carriers who have had difficulty attaining profitability over the last few years are eager to discuss merger possibilities with Spantel as we have now just concluded our first profitable year," says Spantel's president Jose Ramon Basterra. He concluded with, "This is all part of the Company's focus on becoming the leading alternative operator through an aggressive acquisition program, along with the establishment of strategic alliances in the coming years."
Spantel Communications is a provider of telecommunications services throughout 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.