Carnegie's MAVIS 'A Hit' in U.S. TradeShow Debut.

NEW YORK--(BUSINESS WIRE)--Sept. 24, 1998--

New Voice Recognition-Drive Auto Attendant/Voice Mail System

MAVIS(TM), the new speech recognition-driven automated attendant/voice mail system from Carnegie International Corporation (OTC BB: CAGI) was "a hit" in its trade show debut yesterday at the Computer Telephony Demo & Expo '98. The show continues at the Javits Convention Center through tomorrow.

Lowell Farkas, Carnegie's president and CEO, said he was "very encouraged with the reception to MAVIS from telephony industry leaders who visited our booth (No. 743). The innovation and versatility of MAVIS was a hit, much as it was with the European telephony industry when MAVIS was previewed at Networks Telecom and Computer Telephony Expo in England in June."

Farkas said MAVIS's exciting week will continue over the weekend when it is featured on national TV on The New Competitors, a corporate-sponsored series independently produced and paid for by Telecast Production Group. The program airs on CNBC on Sunday, September 27, at 12:30 p.m. EDT.

Carnegie International Corporation (OTC BB: CAGI), based in the Baltimore suburb of Hunt Valley, is a holding company specializing in telephony and telecommunications products, services and distribution. Its MAVIS (for Multi-Language Automated Voice Independent System) is a breakthrough in speech recognition-driven automated attendant/voice mail system that uses proprietary IVR (interactive voice response) software to recognize/respond to callers. The entirely voice-driven MAVIS interface is available in English and 14 foreign languages supported through licensed Lernout & Hauspie (NASDAQ: LHSPF) software, and supports Dialogic (NASDAQ: DLGC) CPU telephony cards. Carnegie's primary wholly-owned subsidiaries are: 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, and ACC Telecom of Columbia, Maryland, a leading reseller of equipment and business telephone systems from Comdial(R) (NASDAQ: CMDL), SONY(R) (NYSE: SNE), Bell South(R) (NYSE: BLS) and Sprint(R) (NYSE: FON). For the first half of fiscal 1998 ending 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 earnings per share of $0.07.

Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this Press Release (as well as information in oral statements or other written statements made or to be made by Carnegie International Corporation) contain statements that are forward-looking, such as statements relating to the future anticipated direction of the telecommunications industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, and accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of Carnegie International Corporation. These risks and uncertainties included, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, change in Federal or state laws, and market competition factors.

MAVIS is a trademark of Carnegie International MED TELECOMMUNICATIONS INTERACTIVE/MULTIMEDIA/INTERNET PRODUCT TRADESHOW

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