PARSIPPANY, N.J., Sept. 29 /PRNewswire-FirstCall/ -- Aquis Communications Group, Inc. ("Aquis" or the "Company") (OTC:AQIS) (BULLETIN BOARD: AQIS) , a full service telecommunications company, today announced that it had received a notice from ComSoft Corporation ("ComSoft") regarding ComSoft's intention to proceed with a UCC Article 9 foreclosure. ComSoft is the Company's senior secured debt holder and majority shareholder. The notice covers substantially all of the Company's assets. After extended deliberation and consultation with its legal and financial advisers, the Board of Directors of Aquis has concluded that an attempt to prevent or delay ComSoft from the Article 9 proceeding would not benefit the Aquis stockholders or its other creditors. Aquis anticipates that the value of its assets will be insufficient to satisfy creditor debt in full, and that no equity will remain for Aquis stockholders at the conclusion of the foreclosure. Aquis does not anticipate any interruption of service to its customers. Aquis has been notified that ComSoft intends to promptly integrate the Aquis operation and employees with those of ComSoft. ComSoft has also informed Aquis that, once it integrates the Aquis operations with its existing infrastructure, it believes that Aquis customers will have expanded coverage areas, increased customer support and access to additional products and services. About Aquis Communications Aquis Communications, Inc., headquartered in Parsippany, NJ, is a leading full-service telecommunications company that provides affordable business and critical communication solutions and wireless product integration. Services and products include voice and data services, wireless messaging, cellular/PCS, telemetry, mobile radios, telecom consulting services and a wide array of customized solutions. Aquis' client list consists of Fortune 500 companies, small to mid-sized companies and government agencies throughout the Northeast and Mid-Atlantic regions. Additional Aquis Communications offices are located in Freehold, NJ and Tyson's Corner, VA. For more information on Aquis Communications visit http://www.aquiscommunications.com/. Certain statements made in the press release may constitute forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on management's current expectations and include known and unknown risks, uncertainties and other factors, many of which the Company is unable to predict or control. That may cause the Company's actual results or performance to materially differ from any future results or performance expressed or implied by such forward- looking statements. These statements involve risks and uncertainties, including without limitation, risks and uncertainties regarding the Company's substantial leverage, capital constraints, significant shareholder, liquidity and competition. These risks and uncertainties are in addition to other factors detailed from time to time in the Company's filings with the Securities and Exchange Commission. DATASOURCE: Aquis Communications Group, Inc. CONTACT: Investor Relations, +1-973-560-8106, Web site: http://www.aquiscommunications.com/

Copyright