News Release on T.ABL!!! 26 CC 31-Jan-00 at 09:11:00 09:15
ABL Canada Inc.: Announcement
Symbol: ABL
Industry: CMT
Subject: NWS
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: ABL CANADA INC.
TSE SYMBOL: ABL
JANUARY 31, 2000
ABL Canada Inc.: Announcement
MONTREAL, QUEBEC--Over the last several months, ABL Canada Inc. has been in
discussions with a number of companies in the United States and Canada, for
the purpose of striking a strategic alliance, creating OEM arrangements or
obtaining an infusion of capital in ABL. Recently, one of these companies
expressed a strong interest in purchasing certain of ABL's assets. As a
result, ABL and the prospective purchaser have entered into preliminary
discussions with respect to a possible sale of such assets. At this time,
no commitment has been made by either party. Any sale of the assets by ABL
would be subject to a number of conditions, including approval by ABL's
Board of Directors and the Board of Directors of the prospective purchaser,
satisfactory due diligence by the prospective purchaser, and the signing of
a purchase and sale agreement. ABL will issue a press release at such
time, if any, that an agreement is reached with the prospective purchaser.
ABL will have two objectives at all times in these discussions: increasing
shareholder value and maintaining the well-being of its employees.
Montreal-based ABL Canada Inc. develops and markets leading technology for
next-generation Internet, voice and video networks. ABL broadband
products, such as video codecs, optical fiber multiplexers, inverse
multiplexers and switches provide connectivity to SONET/SDH, ATM, ISDN,
Frame Relay, microwave and satellite networks. Deployed in more than 50
countries worldwide, ABL products are used for many diverse applications
including high-speed Internet access, distance learning, video
conferencing, remote surveillance and broadcast and cable television. ABL
products have been selected by many industry leaders including British
Telecom, AT&T, Worldcom/MCI, Cox Communications, Korea Telecom, Hong Kong
Telecom, Nortel Networks, Telefonica Spain, and Telecom Argentina.
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FOR FURTHER INFORMATION PLEASE CONTACT:
ABL CANADA INC.
Morrie Glick
Vice-President, Finance and Administration
(514) 344-5432
(514) 344-5441 (FAX)
INDUSTRY: CMT
SUBJECT: NWS
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