Seven New CLEC License Approvals Announced by Fidelity Holdings' Computer Business Sciences Subsidiary -- Now Licensed in Forty-Two Markets
16 September 1999
Seven New CLEC License Approvals Announced by Fidelity Holdings' Computer Business Sciences Subsidiary -- Now Licensed in Forty-Two Markets
KEW GARDENS, N.Y.--Sept. 16, 1999--Fidelity Holdings, Inc. through its technology subsidiary, Computer Business Sciences, Inc. ("CBS"), today announced approval of CLEC (Competitive Local Exchange Carrier) status in the states of Alabama, Michigan, Minnesota, Oregon, Rhode Island, Tennessee and Wisconsin, bringing the number of its approved CLEC licenses to seventeen states, over forty-two markets nationwide.CBS has previously been approved as a CLEC in California, Colorado, District of Columbia, Florida, Illinois, New York, Ohio, Pennsylvania, Texas, and Washington. With the addition of these seven states, CBS will be able to operate as a Facilities-Based Carrier of Telecommunications Services and Intrastate Interexchange Services in seventeen states, encompassing 42 of the planned rollout to 62 of the most populous cities in the U.S. CBS is preparing to deploy in these seventeen states, and its technology subsidiary, IG2, Inc., has entered a collocation arrangement with Bell Atlantic to deploy IG2's XDSL-based services in the New York Metropolitan Area.
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.
Doron Cohen, President of Fidelity, stated: "We are extremely proud of IG2's continuing accomplishments. As we study the avenues open to us regarding our technology division, we cannot help but take these strides into account. We believe IG2's vision of deploying in the 62 largest markets can quickly become a reality."
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, its 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-KSB 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.