EXHIBIT 99.1


[FASTCOMM LOGO]

             FASTCOMM COMMUNICATIONS COMPLETES ITS VOLUNTARY FILING
                            PETITION UNDER CHAPTER 11

DULLES, VA - May 3, 2002 -- FastComm Communications (OTC BB: FSCX) today
announced that it has filed a voluntary petition under Chapter 11of the U.S.
Bankruptcy Act. The filing was made in the United States Bankruptcy Court for
the Eastern District of Virginia and was assigned case #02-82177. In connection
with this matter, the Company retained the bankruptcy firm of Tyler, Bartl,
Gorman and Ramsdell who filed the petition on FastComm's behalf.

Among the reasons cited by the Company for the filing was the eroding demand for
telecom equipment coupled with the weak economy, and cancellation or
postponement of projects by major telecommunications equipment vendors.

FastComm will continue operations during this process including delivering and
supporting existing and new products, resale partners, and customers. No changes
in management or operations is expected or contemplated. The filing acts as an
automatic stay of all lawsuits previously filed against the Company.

ABOUT FASTCOMM

FastComm Communications www.fastcomm.com is a complete signaling, voice
and data system solution provider, offering innovative signaling
interoperability solutions that include support for SS7, C7, C5, R1, R2, and
DTMF. FastComm also provides advanced IP and data solutions over Frame Relay
such as voice/data Integrated Access Devices (IADs), IBM data center products
and protocol converters specifically designed for Unisys environments.

Forward-looking statements are made in this release pursuant to the safe harbor
provisions of the Private Securities Litigation reform Act of 1995. Investors
are cautioned that all forward looking statements are subject to risk and
uncertainties, including, without limitation, the timing of new announcements or
introductions by the company and its competitors, the hiring and retention of
key employees, competitive pricing pressure, dependence on third parties for
components and products, and general economic conditions in the United States
and international markets, and the risk factors detailed from time to time in
the Company's periodic reports and registration statements filed with the
Securities and Exchange Commission. To request a data sheet of any FastComm
product, please contact the Company via phone (703) 318-7750; Fax (703)
787-4625; e-mail info@fastcomm.com; or visit FastComm on the World Wide Web at
www.fastcomm.com. The Company's Form 8K relating to this transaction will be
filed within 15 days and will be available at www.sec.gov/edgar.htm.

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FastComm Contact:
Mark Rafferty
Chief Financial Officer
703-318-4303
mrafferty@fastcomm.com


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