Fidelity Holdings Computer Business Sciences Subsidiary Announces Approval
18 June 1999
Fidelity Holdings, Inc.'s Computer Business Sciences Subsidiary Announces CLEC Approval in the State of Illinois
KEW GARDENS, NY--June 17, 1999--eligibility in 50 Largest U.S. Markets
Fidelity Holdings, Inc. through its technology subsidiary, Computer Business Sciences, Inc. ("CBS"), today announced approval of CLEC (Competitive Local Exchange Carrier) status in the state of Illinois. In addition, CBS has fifteen applications filed and pending approval by the Commissions of the states of Massachusetts, New Jersey, Pennsylvania, Connecticut, District of Columbia, Texas, Georgia, Ohio, Arizona, Colorado, Minnesota, Tennessee, Kentucky North Carolina, and Virginia.
CBS has previously been approved as a CLEC in the states of New York, California and Florida and is preparing for collocation with the Regional Bell Operating Companies (RBOCs) in those states, beginning by deploying its technology subsidiary, IG2, Inc.'s XDSL-based services in the New York Metropolitan Area in a collocation arrangement with Bell Atlantic .
Should these applications be approved, CBS would be able to operate as a Facilities-Based Carrier of Telecommunications Services and Intrastate Interexchange Services in 19 states, which would enable its IG2, Inc. subsidiary to provide its XDSL services in those states. CLEC approval in all 19 states will enable CBS to establish itself as a competitive carrier of telecommunications services in 50 of the most populous cities in the United States, including New York, Rochester, Albany, Syracuse, Buffalo, Miami, Ft. Lauderdale, Tampa, Jacksonville, San Francisco, Los Angeles, Anaheim, Oakland, San Bernadino, San Diego, San Jose, Sacramento, Chicago, Boston, Springfield, Cincinnati, Cleveland, Columbus, Dayton, Toledo, Phoenix, Newark, Paterson, Hartford, Washington, D.C., Atlanta, Denver, Boulder, Philadelphia, Pittsburgh, Allentown, Minneapolis, Houston, Dallas, Ft. Worth, San Antonio, Memphis, Nashville, Louisville, Greensboro, Chapel Hill, Richmond, Norfolk, Detroit and Grand Rapids.
IG2, Inc.'s services are based on a multimedia network platform, IG2(TM), which is designed to provide to residential and small business customers high speed Internet access, eCommerce capabilities, local and long distance telephone service, television quality video conferencing and television programming, all through existing telephone wires already installed in the customer's home.
Kimberly Peacock, President of CBS's IG2, Inc. subsidiary, stated: "Achieving CLEC status in the State of Illinois and filings which cover 50 cities moves CBS ever closer to achieving its ultimate goal of deploying its IG2(TM) services in the 62 most populous cities in the United States."
"This accomplishment demonstrates that we are quite focused on achieving our goals in line with our strategic plan for our technology division," concluded Doron Cohen, President of Fidelity.
Contributing to the IG2(TM) platform are a series of collaborative strategic partnerships and alliances with consumer electronic manufacturers, software developers and companies seeking additional exposure utilizing e-Commerce.
Fidelity Holdings has been a diversified holding company that utilizes information and technology to target industries experiencing consolidation and/or deregulation. The Company operates two divisions - Automotive and Technology. The Automotive Division operates through Major Automotive Group, a leading consolidator of automotive dealerships in the New York Metropolitan Area. The Technology Division operates under Computer Business Sciences and its newly formed IG2, Inc. subsidiary, and its plastics subsidiary.
Fidelity Holdings, Inc. is presently exploring the divestiture of its non-automotive activities by way of sale, merger, consolidation or other opportunities. Accordingly, all such non-automotive activities have been classified as discontinued operations in its financial statements.
For additional information, visit our website at www.fdhg.com, www.majorautomotive.com and www.majorworld.com.
The information contained in this press release, including any "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 contained herein, should be reviewed in conjunction with the Company's Annual Report on Form 10-K and other publicly available information regarding the Company, copies of which are available from the Company upon request. Such publicly available information sets forth many risks and uncertainties related to the Company's business and such statements, including risks and uncertainties related to that are unpredictable and outside of the influence and/or control of the Company.