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BELL TECHNOLOGY GROUP LTD.
March 27, 1998 Bell Technology Group Ltd. (Nasdaq SmallCap: BELT, BELTW)
announced today that it intends, subject to market and other conditions,
to raise up to $140 million in a private placement pursuant to Rule 144A
of high yield securities.
ANNOUNCES PROPPOSED PRIVATE PLACEMENT
OF SENIOR NOTES AND WARRANTS NEW YORK, N.Y.,
The securities to be offered will not be registered under the Securities
Act of 1933 or applicable state securities laws and will not be offered
or sold absent registration under the Securities Act of 1933 and applicable
state securities laws or available exemptions from registration requirements.
Bell Technology Group Ltd. is an Internet service provider engaged in the
design, construction and provision of sophisticated Internet-based solutions
to large and medium size business enterprises. The Companyís services
include: (i) high bandwidth dedicated Internet access, web hosting and co-location
facilities, (ii) value-added systems and network integration, (iii) interactive
development — digital web design, web implementation and 3-dimensional
computer animation and (iv) instructor-led corporate training. The Company
currently provides Internet services to over 450 clients in New York City.
This press release shall not constitute
an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of these securities in any state in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state.
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