Advent International, the global private equity investor, has invested USD25 million (twenty five million US dollars) of expansion capital into the multinational telecommunications company Long Distance International Inc.

Headquartered in Fort Lauderdale, Florida, LDI was formed in 1993 by David Glassman and Clifford Friedland. Its focus is to deliver quality telecom services that lead the industry in line clarity, customer support and price - its target audience being small-to-medium-sized businesses and residential customers.

First launched in the USA in 1995, LDI rolled out its UK operation - LDI Ltd - in 1996 to take advantage of the rapidly changing UK telecom market and to act as the first step into the wider European market prior to deregulation in 1998. In December 1996, LDI was awarded an International Facilities Licence in the UK.

Chairman of LDI - Clifford Friedland - commented:

"Advent International's investment means our transatlantic expansion plans will be accelerated. Within three years LDI's superior quality service will be available in up to fifteen predominantly European countries. We will be rapidly building out our telecom network from the powerful platforms we already have. "

LDI will extend its existing network by installing a further six digital DEX 600 switches in the US and London as well as establishing DEX Worldlink international gateways in London and New York. New intelligent network systems will also be installed in London and Fort Lauderdale which will allow new customised telecom services to be developed for LDI subscribers. In addition, LDI has acquired its own transatlantic, North Sea and inter European circuits which will be enhanced by Newbridge Bandwidth Managers and echo cancellers. LDI plans to make further infrastructure investments before the end of 1998.

Tim Parsonson, head of European strategy at LDI, added:
"Our marketing activity will follow the successful marketing tactics we have implemented in the US and UK. Direct sales offices in each country will be supported by agency and joint marketing agreements with locally based sales driven organisations. Where appropriate, strategic investments or acquisitions will also be made."

Olaf Krohg, Advent International's partner who joins the LDI board, commented:

"LDI is led by two proven entrepreneurs who know the telecoms market inside out. The company is a smart operator in an industry going through enormous technological, deregulatory and competitive change. We view this as an opportunity to share in the world-wide deregulation of a market forecast to be worth one trillion US dollars by 2001. We anticipate LDI meeting its business plan of generating sales of one billion US dollars a year within four years."

Advent International is one of the world's largest and most experienced global private equity investment firms. The firm has USD3 billion (three billion US dollars) under management and invests throughout the world from its thirteen offices in Europe, North America, Asia and Latin America.

LDI currently provides telecom services to over 250,000 small-to-medium-sized businesses and residential customers in the US and Europe. It is entering the Swedish market in September 1997.

Further information:

Clifford Friedland / David Glassman (LDI Inc)   + 1 954 522 3300 
Olaf Krohg (Advent International)               + 1 617 951 9400
Toby Hall (GTH Media Relations)                 + 1 954 525 0802

Tim Parsonson (LDI Ltd)                         + 44 181 987 8800
Scott Lanphere (Advent International)           + 44 171 333 0800
Toby Hall (GTH Media Relations)                 + 44 171 824 8245