SOURCE: CGI Communications Services, Inc.

July 18, 2005 13:09 ET

CGI Communications Services Common Stock Is Now Trading Under the Symbol "CGIC"

"Inks a Memorandum of Understanding With ITeMAX"

LOS ANGELES, CA -- (MARKET WIRE) -- July 18, 2005 -- Meridian Holdings, Inc. (OTC BB: MRDH), announced today that its subsidiary CGI Communications Services, Inc., (CGI) Common Stock is now trading Over the Counter (OTC) under the symbol "CGIC" (OTC: CGIC).

Also, CGI Communications Services, Inc., an applications services provider specializing in Telemedicine and Telehealth services to the healthcare community, has entered into a memorandum of understanding (MOU)with ITeMAX, a technology Company based in Riverside, California , that specializes in providing ITenabled services to the global marketplace

Under the terms of the MOU, the two companies have mutually decided to explore and develop the following business opportunities:

1    Preferred IT  Services Partnership: Under this term, ITeMAX will
identify IT service and implementation opportunities within its target
marketplace and will team up with CGI to develop the necessary solution and
provide the associated service

2    IT Services Business Venture: Under this concept the two companies
will jointly develop an IT services business infrastructure  to serve
target customers world-wide. They will set up a joint venture company with
mutually acceptable operating terms and conditions to execute this business

3    Co-operative Marketing: The two companies will develop a co-operative
marketing program. Under this arrangement, each party agrees to list the
other as a strategic partner in their advertising, promotional, product
description and corporate and sales literature
"We are very delighted to have the opportunity to work with ITeMAX, and looking forward to a win-win business relationship," said Dike.

"After many years of research and development in the telehealthcare sector, ITeMAX is teaming up with leading and potential technology corporations for a low-cost turn-key e-Healthcare solution for developing countries. We are very proud to be working with CGI Communications Services, Inc., whose Telemedicine and Telehealth solutions have greater economy through the use of low cost technology, robust and innovative software, and portability of equipment with an average turn-key end-user e-healthcare system at a cost of less than $10,000, which is a prime objective of ITeMAX. We project that the combined e-healthcare system of CGI Communications Services, Inc. and ITeMAX will be more cost-effective than many of the existing systems that are currently available, and will fit the budget of developing countries, whose need for such a solution is significant, yet limited in respective market for prohibitive cost," said Jyoti Chatterjee, President and CEO of ITeMAX.

About ITMAX

ITeMAX was founded by The KPC Group as the company's flagship technology services company with the objective of providing specialized ITenabled services to the global marketplace. Based in Riverside, California, ITeMax also has its development team at KPC Knowledge City -- a unique knowledge-services infrastructure developed by the KPC Group in Kolkata, India.

About Meridian Holdings, Inc.

Meridian Holdings, Inc. is an acquisition-oriented business enterprise focused on building, operating and managing a portfolio of business-to-business companies. Meridian seeks to acquire majority or controlling interests in companies engaged in e-commerce, e-communication, and e-business services, which will allow the holding company to actively participate in management, operations and finances. Meridian's network of affiliated companies is designed to encourage maximum leverage of information technology, operational excellence, industry expertise and synergistic business opportunity. Meridian is committed to building shareholder value by positioning affiliated companies as independent business entities in which Meridian shareholders enjoy equity participation. Learn more about the company and its subsidiaries, including CGI Communications Services, Inc. by visiting Meridian's web site at www.meho.com.

About CGI Communications Services, Inc.CGI Communications provides comprehensive telemedicine and telecare solutions. Supplying Medical Products, Telecommunications services and InterCare DX. Inc.'s (OTC BB: ICCO) ICE™ software. (http://www.intercare.com/). For more information, about our products and services, please visit our website at www.cgics.com.

NOTE: Statements in this news release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and any amendments thereto. Material that is forward-looking may contain statements about expected future events and/or financial results that are forward-looking in nature. Editors and investors are cautioned that such forward-looking statements invoke risk and uncertainties that may cause the company's results to differ from such forward-looking statements. These include, but are not limited to, economic, competitive, governmental, technological and other factors discussed in the statements and/or in the company's filings with the Securities and Exchange Commission.

Contact Information

  • CONTACT:
    Anthony C. Dike
    Chairman/CEO
    213-627-8878
    www.meho.com