Carnegie International Chairman Purchases CompanyStock.

BALTIMORE--(BUSINESS WIRE)--Jan. 21, 1999--Carnegie International Corporation (OTC: BB CAGI), a holding company specializing in Internet, telephony and telecommunications products, services and distribution, said today that its chairman has purchased Carnegie stock on the open market.

Carnegie (www.carnegieint.com) also announced that Stuart L. Agranoff, a member of its Board of Directors, has exercised his option to purchase 50,000 shares of Carnegie stock pursuant to his agreement.

Carnegie International Corporation (OTC: BB CAGI) is a holding company specializing in Internet, telephony and telecommunications products, services and distribution. Its MAVIS(tm) (Multi-Language Automated Voice Independent System) is a breakthrough in speech recognition-driven automated attendant/ voice mail systems, using proprietary IVR (interactive voice response) software to recognize/respond to callers. The entirely voice-driven MAVIS interface is available in English and all foreign languages supported through licensed Lernout & Hauspie (NASDAQ: LHSPF) software, and supports Dialogic (NASDAQ: DLGC) CPU telephony cards. Carnegie's primary wholly-owned subsidiaries include: RomNet Support Services, Inc., an Internet, e-business and technical support services company Profit Through Telecommunications (Europe) Ltd. (PTT), a telecommunications software company providing business solutions utilizing proprietary speech recognition, touch tone and bar code responses to send and/or receive information; Talidan, a reseller marketing telephone time and information at discounted rates in Europe, South America, and other emerging markets, ACC Telecom of Columbia, Maryland, a leading reseller of equipment and business telephone systems from Comdial (NASDAQ: CMDL), SONY(R) (NYSE: SNE), and Sprint(R) (NYSE: FON), and Voice Quest, Inc., of Sarasota, Florida, a developer and provider of speech recognition and voice mail technologies and products. For the first half of fiscal 1998 ended June 30, Carnegie reported total income of $8.9 million and after-tax basic earnings per share of $0.075. For fiscal 1997, Carnegie reported total income of $6.9 million and after-tax basic earnings per share of $0.07.