Inter-Continental Services Corporation Enters Into Letter of Intent For Acquisition of Wireless ASP

Apr 02, 2001, 01:00 ET from Inter-Continental Services Corporation

    SAN DIEGO, April 2 /PRNewswire/ -- Inter-Continental Services Corporation,
 (OTC: ICSV) (the "Company") has announced today that it has entered into a
 Letter of Intent for the acquisition of Global Access Telephone & Technology,
 Inc. ("GATT") a wireless ASP (Application Service Provider) that supports the
 PDA (Personnel Digital Assistance) market.  The acquisition requires approval
 by the shareholders of the Company who will vote on this matter at the Annual
 Shareholders Meeting scheduled for May 11, 2001 in San Diego, California.
     The Company has also authorized a 1 for 3 reverse stock split of its
 common stock as part of the restructuring of the Company which is also subject
 to shareholder approval.  The Company is currently preparing its audited
 financial statements for the years 1999, 2000 and for the period ending April
 30, 2001 which will allow the Company to become listed on the NASD OTC
 Bulletin Board.  A new Board of Directors will assume their positions on April
 13, 2001 with a new management team to be announced at that time.
     The Company's new focus will be in application services for the emerging
 "Wireless Revolution," providing content, corporate archiving and retrieval as
 well as a host of other services being available in the next six months.
 Robert N. Meyer, President of ICSC states "this acquisition brings together
 the communications expertise of ICSC and the wireless technological ability of
 GATT and greatly enhances the value for our shareholders."
 
     This press release contains forward-looking statements regarding
 Inter-Continental Services Corporation and its future related activities.
 Actual results could differ materially from those described or implied in the
 press release as a result of a number of factors.  These include, but are not
 limited to the future growth of these markets, any adverse actions by the
 Company's partners, competitive products, other economic factors affecting the
 Company's markets, the degree of acceptance that new products achieve, and
 seasonal changes.
 
 

SOURCE Inter-Continental Services Corporation
    SAN DIEGO, April 2 /PRNewswire/ -- Inter-Continental Services Corporation,
 (OTC: ICSV) (the "Company") has announced today that it has entered into a
 Letter of Intent for the acquisition of Global Access Telephone & Technology,
 Inc. ("GATT") a wireless ASP (Application Service Provider) that supports the
 PDA (Personnel Digital Assistance) market.  The acquisition requires approval
 by the shareholders of the Company who will vote on this matter at the Annual
 Shareholders Meeting scheduled for May 11, 2001 in San Diego, California.
     The Company has also authorized a 1 for 3 reverse stock split of its
 common stock as part of the restructuring of the Company which is also subject
 to shareholder approval.  The Company is currently preparing its audited
 financial statements for the years 1999, 2000 and for the period ending April
 30, 2001 which will allow the Company to become listed on the NASD OTC
 Bulletin Board.  A new Board of Directors will assume their positions on April
 13, 2001 with a new management team to be announced at that time.
     The Company's new focus will be in application services for the emerging
 "Wireless Revolution," providing content, corporate archiving and retrieval as
 well as a host of other services being available in the next six months.
 Robert N. Meyer, President of ICSC states "this acquisition brings together
 the communications expertise of ICSC and the wireless technological ability of
 GATT and greatly enhances the value for our shareholders."
 
     This press release contains forward-looking statements regarding
 Inter-Continental Services Corporation and its future related activities.
 Actual results could differ materially from those described or implied in the
 press release as a result of a number of factors.  These include, but are not
 limited to the future growth of these markets, any adverse actions by the
 Company's partners, competitive products, other economic factors affecting the
 Company's markets, the degree of acceptance that new products achieve, and
 seasonal changes.
 
 SOURCE  Inter-Continental Services Corporation