Exhibit 99
CONTACT: Joseph A. Mansi Paul Albritton
KCSA Worldwide C-Phone Corporation
(212) 896-1205 (910) 395-6100
jmansi@kcsa.com paula@c-phone.com
IMMEDIATE RELEASE
C-PHONE APPOINTS PAUL ALBRITTON NEW
CHIEF EXECUTIVE OFFICER
- - - - -
Former CFO Also Elected To Board
WILMINGTON, N.C., March 6, 2000 - C-Phone Corporation (NASDAQ:CFON) today
announced that Paul Albritton (56) has been appointed President and Chief
Executive Officer of the Company.
Mr. Albritton, who has been Chief Financial Officer of the Company for
more than five years, also has been elected to the Company's Board of Directors.
Mr. Albritton replaces Daniel Flohr, who had been President and Chief
Executive Officer of the Company since its inception. Mr. Flohr will continue as
Chairman of the Board and will act as a strategic advisor to the Company. Mr.
Flohr commented that, "having initially hired Paul Albritton and having worked
closely with Paul during the past few years, I am completely confident that Paul
has the knowledge, understanding, experience and skills needed to lead and
manage C-Phone in its continuing evolution. I look forward to aiding Paul in his
new role and assisting in the development of C-Phone's technologies and
progress. Mr. Flohr intends to focus his day-to-day efforts as chief executive
of a New York based, fiber optic telecommunication services company.
Mr. Albritton announced that Kurt Svendsen, who has been serving as
controller of the Company since December 1998, is being promoted to Vice
President and Chief Financial Officer. Mr. Svendsen is a licensed CPA.
In addition to the foregoing management changes, Tina Jacobs, who had
been Executive Vice President and Chief Operating Officer of the Company, has
resigned such positions, but will continue as Secretary and Treasurer of the
Company, as well as a member of its Board of Directors.
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C-Phone Corporation provides state-of-the-art video communications
products for general business and niche markets, including security, education
and healthcare. Affordable and easy to use, C-Phone products deliver high
quality, real time video, voice and data for conferencing and remote monitoring
applications. C-Phone technology is compatible with all industry standards and
connects through a wide variety of telephone company and private communications
networks, including the Internet. C-Phone products are marketed throughout the
world and are in use by a diverse group of corporate, institutional and
governmental customers. Information on the Company and its products can be found
at www.cphone.com.
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STATEMENTS MADE IN THIS PRESS RELEASE, OTHER THAN THOSE CONCERNING HISTORICAL
INFORMATION, SHOULD BE CONSIDERED FORWARD-LOOKING AND SUBJECT TO VARIOUS RISKS
AND UNCERTAINTIES. SUCH FORWARD-LOOKING STATEMENTS ARE MADE BASED ON
MANAGEMENT'S BELIEF AS WELL AS ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY
AVAILABLE TO, MANAGEMENT PURSUANT TO THE SAFE HARBOR" PROVISIONS OF THE PRIVATE
SECURITIES LITIGATION REFORM ACT OF 1995. THE COMPANY'S ACTUAL RESULTS MAY
DIFFER MATERIALLY FROM THE RESULTS ANTICIPATED IN THESE FORWARD-LOOKING
STATEMENTS AS A RESULT OF A VARIETY OF FACTORS, INCLUDING AMONG OTHERS, THOSE
IDENTIFIED IN THE COMPANY'S ANNUAL REPORT ON FORM 10-KSB FOR THE FISCAL YEAR
ENDED FEBRUARY 28, 1999, AND THE COMPANY'S QUARTERLY REPORT ON FORM 10-QSB FOR
THE FISCAL QUARTER ENDED AUGUST 31, 1999, AS WELL AS FACTORS SUCH AS FUTURE
ECONOMIC CONDITIONS, ACCEPTANCE BY CUSTOMERS OF THE COMPANY'S PRODUCTS, CHANGES
IN CUSTOMER DEMAND, LEGISLATIVE, REGULATORY AND COMPETITIVE DEVELOPMENTS IN
MARKETS IN WHICH THE COMPANY OPERATES AND OTHER CIRCUMSTANCES AFFECTING REVENUES
AND COSTS. THE COMPANY UNDERTAKES NO OBLIGATION TO RELEASE PUBLICLY THE RESULT
OF ANY REVISIONS TO THESE FORWARD-LOOKING STATEMENTS THAT MAY BE MADE TO REFLECT
EVENTS OR CIRCUMSTANCES AFTER THE DATE OF THIS PRESS RELEASE OR TO REFLECT THE
OCCURRENCE OF OTHER UNANTICIPATED EVENTS.
THIS RELEASE AND PRIOR RELEASES ARE AVAILABLE ON THE KCSA PUBLIC RELATIONS
WORLDWIDE WEBSITE AT www.kcsa.com.
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