First Florida Communications Inc. Announces the Successful Completion of $1.5 Million Private Placement

Business Wire, July 16, 1999

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--July 15, 1999--

First Florida Communications Inc. (OTC BB:FFCI), announced that Venture Capital USA has fully funded its initial private placement of $1.5 million.

FFCI is an integrated broadcast and communications company comprised of the following subsidiaries: M.B. Broadcasting; Paradise Cellular and Paging; The Catalog Channel; American Wireless Inc. of Utah; and LanSource Inc.

There can be no assurance of the ability of the company to achieve sales goals, obtain contracts or financing, consummate acquisitions, or achieve profitability in the future.