MILL VALLEY, Calif., March 13, 2000 (PRIMEZONE) -- USV Telemanagmenet Inc. (OTCBB:YDSLF), announced today that it has applied to the NASDAQ Stock Market with respect to a listing.
"This listing application represents a major step in support of our acquisition strategy and evidences our desire to unlock shareholder value," said Mark Smith, President of USV Telemanagement Inc. "We believe that a NASDAQ listing should open up the Company to an even wider investor base and command more esteem from financing sources and acquisition candidates. Since listing on the OTCBB in September 1999, the company has increased substantially the audience for its securities as corroborated by its monthly trading volume. We are pleased that in a six-month time frame we have progressed from an initial listing on the OTCBB to being in a position to apply for NASDAQ.
"The price of our stock has risen as much as 1,400% since our listing on the OTCBB," stated Smith. "When we look at comparable valuations for NASDAQ listed companies in the broadband, DSL, e-document, e-marketing and e-solutions businesses, any of which we might be compared to, our current market cap revenue multiple of a just under 8 times leads us to believe that there is unrealized value in our stock. We believe that a NASDAQ listing should help us to realize our potential with respect to comparable valuations.
"Our pending acquisition of Exstream Data and other recent steps are designed to widen the audience for our securities and our underlying services," concluded Smith. "A NASDAQ listing can similarly expand awareness of our public company and its subsidiary's services."
ABOUT USV TELEMANGEMENT INC. USVT, through its wholly owned Integrated Communications Provider (ICP) subsidiary, USV Telemanagment, Inc., sells telecommunication, data, integrated T-1, Internet, Synchronuous Digital Subscriber Line and other integrated access and broadband services to commercial customers. USV Telemanagement, Inc. is a certified Competitive Local Exchange Carrier in the state of California. The ICP subsidiary sells services through telephone equipment sales or "Interconnect" companies and other niche market distributors.
USVT's subsidiary sells services under agreements with MCI WorldCom Inc. (Nasdaq:WCOM), UUNET (an MCI WorldCom company), TelePacific Communications, Inc. and DSLSolutions, Inc. Underlying services are provided by MCI WorldCom, UUNET, Covad Communications Group, Inc. (Nasdaq:COVD), SBC Communications Inc. (NYSE:SBC), Rhythms NetConnections, Inc. (Nasdaq:RTHM), NorthPoint Communications Group, Inc. (Nasdaq:NPNT).
USVT has entered into an agreement to acquire Exstream Data, Inc., a leading provider of e-document, e-business and other electronic document delivery services. Exstream Data's website can be found at www.exdata.com.
The company is audited by KPMG LLP and is registered with the U.S. Securities and Exchange Commission under the 1934 Act. The company's SEC filings can be found on SEDAR at www.SEDAR.com. USVT trades on the U.S. N.A.S.D. Over the Counter Bulletin Board under the symbol "YDSLF."
For more information, visit our web site at www.usvt.com.
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Sections 21E of the Securities Exchange Act of 1934, and are subject to the safe harbor created by these sections. Such forward looking statements, particularly as related to the business plans of the Company, expectations of strategic relationships, business opportunities, acquisitions of capital equipment, availability of investment capital and further financing, and the Company's ability to gain market share, are based on current expectations that involve a number of risks and uncertainties. Actual results may differ materially from the Company's expectations and estimates.