company's name to Intelect Communications Systems Ltd.

Company shareholders approved the move at special general meeting. The company's trading symbol was changed to "ICOMF'' on October 12, 1995, concurrent with listing of common shares on the NASDAQ NMS.

"Our new corporate name now references our core business activity and the forward direction of the company,'' Intelect chairman Mr. Herman Frietsch said.

"This affirmative action by our shareholders both formally and symbolically completes a series of material changes undertaken during 1995 to redeploy our resources into the telecommunications industry,'' he said.

Mr. Frietsch also said that in 1995 the company has generated over $35 million from operations and dispositions, and acquired new technologies and products.

"Our net financial result is $22 million in cash for working capital and expansion, less than $2 million of term debt and increased shareholders' equity to approximately $30 million,'' he said.