VANCOUVER, British Columbia -- Jan. 12/95 -- EyeTel Technologies Inc.
announces that it has today executed the Term Sheet with U.S. based
Peripheral Land Inc. (PLI), which defines the acquisition of PLI, and its
assets, by EyeTel, subject to the ratification of an Acquisition Agreement
by the Board of Directors and Shareholders of both companies. The
preliminary integration of the companies has commenced with the
appointment of a Senior EyeTel Executive to the position of PLI's acting
COO. The companies have started to develop a Business Plan to re-structure
PLI and commence with the full production of the new 15X CD-ROM Drive.

The proposed Acquisition Agreement will be drafted immediately.  It is
anticipated that PLI, or a yet to be formed successor to PLI, will be a
wholly owned subsidiary of EyeTel.

PLI is a privately held Technology company with its Head Office in Fremont,
California. The company was founded in 1985 and offers an extensive
variety of storage technologies which include CD-ROM drives, Floptical
drives and Disk Arrays. The company has shown strong sales growth since
inception in 1985 with $48.9 Million in sales in 1993, and has been the
recipient of numerous product and technical awards. In consecutive years
the company has been listed by Inc. Magazine as one of the fastest growing
private companies in the United States.

Late last year, PLI announced its revolutionary new 15X CD-ROM Technology
whereas most other companies involved in the production of CD-ROM drives
launched significantly slower systems. In a recent article in CD-ROM Today
the author suggests that "Even 3X and 4X drives are candidates for the
storage device Snail Award" when compared to PLI's system which is "Faster
Than a Speeding Bullet".

The PLI acquisition by EyeTel Technologies Inc. would greatly enhance its
portfolio of Leading Technology companies. Other wholly owned subsidiaries
include: EyeTel Communications Inc., and TelAmerica Videoconferencing Corp
(TVC). EyeTel Communications Inc. is a leading developer and supplier of
PC based Videoconferencing systems and is recognized worldwide for its
award winning, interactive visual communications systems.

In August/94 EyeTel Communications entered into an Agreement with Unisys
Corporation, wherein EyeTel is providing Unisys with Videoconferencing
software, for resale, under private label by Unisys. In October, EyeTel
entered into a Memorandum of Understanding with Hyundai Electronics
America, Inc. wherein the companies agreed that it was their mutual
intention to enter into an Agreement wherein EyeTel and Hyundai would
jointly develop a PC based Videoconferencing product to be marketed and
sold under the Hyundai private label.

EyeTel Technologies is a publicly traded company listed on the Vancouver
Stock Exchange (VSE symbol: ETL.V) and the NASDAQ Bulletin Board
(symbol:EYLT).

EyeTel Technologies Inc
Suite 206 - 267 West Esplanade
North Vancouver, BC V7M 1A5 CANADA
604-984-2522,  fax 604-984-3566

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