Teletouch Subsidiary Progressive Concepts, Inc. (dba Hawk Electronics) Provides Limited Details on Settlement Framework with AT&T as Negotiations Near Conclusion

FORT WORTH, Texas--(BUSINESS WIRE)--Teletouch Communications, Inc. (OTCBB: TLLE), a leading U.S. wireless services, cellular, consumer electronics and public safety equipment provider today provided a status update with certain limited settlement details regarding the ongoing litigation between its wholly-owned subsidiary, Progressive Concepts, Inc. dba Hawk Electronics (“PCI”) and AT&T (NYSE: T). Teletouch reported today that the parties have made substantive progress towards completing the terms of their final settlement agreement, whereby the parties have agreed and documented many of the major outstanding items of the mediated settlement framework, as well as additional agreements made as a part of the final settlement terms and conditions.