FAIRFIELD, N.J., Jan. 5, 2005 (PRIMEZONE) -- Accesstel, Inc. (OTCBB:ASTI) today announced that it has agreed to present a closed bid for the purchase of the equipment of a Belgium-based Knitting and dyeing plant. With a daily production capacity of around 20 tons, this new purchase would enable Accesstel to eliminate all the finished fabric subcontracting process done today and save on its current cost structure. The estimated bid price will be valued at 10 to 15% of the market price for similar type of machines ($5 to $6 Million). The closing date for the bid is January 21, 2005. Accesstel, Inc already announced on December 6, 2004 that it has plans to acquire or purchase a textile circular knitting and dyeing plant. Such addition of this new machinery would increase Accesstel's production capacity by five fold. However, there is no assurance that our bid for this equipment will be successful.
Accesstel announced on October 28, 2004 that it had completed the acquisition of Global Invest Holdings, Inc., a U.S.-based company engaged in the production and marketing of textile products. Pursuant to this acquisition, a name change to Global Invest, Inc. and symbol change is pending.
Accesstel has developed this unique and global "virtual manufacturing" concept, integrating social and economic development. For more details, visit our website www.globalinvestholdings.com
On behalf of the Board Ralph Sayad, Chief Executive Officer Accesstel, Inc.
This news release includes "forward-looking statements" as that term is defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical fact are statements that could be deemed forward-looking statements and are often characterized by the use of words such as "believes," "expects," "estimates," "projects," "may," "will," "intends," "plans," or "anticipates," or by discussions of strategy, plans or intentions. In this news release, forward-looking information includes statements relating to the conversion of securities, future sales of securities, future registration of securities and similar matters. All forward-looking statements in this news release are made based on management's current expectations and estimates, which involve risks, uncertainties and other factors that could cause results to differ materially from those expressed in forward-looking statements.