ecrg at nettaxi.com
ecrg at nettaxi.com
Wed Feb 2 00:13:55 EST 2000
To: amustad at usvt.com (Arnstein)
News Media: (877) 687.4500
Investors: Contact Investor Relations at (877) 687.4500
USV TELEMANAGEMENT INC. RETAINS WILLIAM H. SMITH
Former Jefferies & Company, Inc. Equity Analyst To Assist Company in
Mergers and Acquisitions and Capital Markets Activities
MILL VALLEY, Calif., Feb. 1, 2000 -- USV Telemanagement, Inc.
(OTCBB:YDSLF), announces it has retained former Jefferies & Company,
Inc. (NYSE:JEF) research analyst William "Bill" Smith to act as the
company's advisor with respect to mergers and acquisitions and to assist
in the company's other capital markets activities.
Explains USV Telemanagement Inc. Chief Executive Officer J. Erik Mustad,
"We are at a critical juncture with respect to the company's expansion
plans and we need an on call, experienced and street savvy, financial
advisor who can interface with Wall Street, prospective merger and
acquisition candidates and the institutional investor community. Bill
Smith fits this need perfectly having come from Jefferies & Company,
Inc., an institutional brokerage and investment bank for middle market
William H. Smith was a equity research analyst with Jefferies & Company,
Inc. in their San Francisco office until November 1999 when he left to
start his own consultancy to support the needs of small cap public
companies who cannot generally obtain the insight of Wall Street
research analysts. "My goal is to bring to small cap public companies
the view point of research analysts and institutional investors. This is
particularly important with respect to laying the proper foundation for
M&A and financing activities.", says Smith, "I look forward to working
with the management of USV Telemanagement Inc. to assist them in
obtaining their vision of increasing shareholder value through asset
accumulation or merger with a synergistic partner".
ABOUT USV TELEMANAGEMENT INC.
USVT, through its wholly-owned subsidiaries, USV Telemanagement, Inc.
and USVT.Com Inc., sells telecommunications, data, integrated T-1,
Internet, 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. USVT's subsidiaries are Integrated Communications Providers
(ICP) with more than 1,500 customers and 80 interconnect sales agents
whom sell the company's services through telephone equipment sales or
"Interconnect" companies. Interconnect companies are unique among
telephony distributors as they maintain long term ties to their
telephone equipment customers.
USVT's subsidiaries sell 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.'s (NYSE:SBC) Pacific Bell
subsidiary, Covad Communications Group, Inc. (NASDAQ:COVD), Rhythms
NetConnections, Inc. (NASDAQ:RTHM), NorthPoint Communications Group,
Inc. (NASDAQ:NPNT) and TelePacific Communications, Inc.
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.
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 future 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
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