Sitestar Achieves CLEC Status
6/19/2002 8:31:00 AM
SHERMAN OAKS, Calif., Jun 19, 2002 (BUSINESS WIRE) -- Sitestar Corporation (OTCBB:SYTE), a technology investment company, today announced that its wholly-owned ISP division has completed the application to become a competitive local exchange carrier, or CLEC.
"Becoming a CLEC affords us new growth opportunities, which we can leverage through our Virginia and North Carolina markets," commented Clinton J. Sallee, president and CEO of Sitestar Corporation. "More importantly, our CLEC status will provide us a competitive edge in an evolving competitive landscape."
Added Joseph Albanese, a member of the Sitestar management team and the leader of our CLEC efforts, "The telecommunications boom of the late '90s encouraged many companies to become CLECs. Our strategy has been quite different from the masses. Rather than spending heavily on facilities, and pursuing fast wealth, our goal is primarily to gain access to unbundled network elements, such as copper telephone lines and dark fiber, allowing us to provide a broader range of advanced services to our customers, while reaping significant savings."
About Sitestar
Sitestar is a publicly held investment company that acquires and invests in emerging technology-based enterprises. Its primary focus is the acquisition of small independent Internet Service Providers in the rural and secondary markets of the mid-Atlantic region of the United States. Sitestar's wholly owned subsidiaries provide narrow and broadband Internet access, electronic infrastructure development, Web-hosting and design services and other technology-related solutions to residential and business users.
Sitestar's wholly owned subsidiaries include Sitestar.net, Sitestar Applied Technologies, Lynchburg.net, Computers By Design and Advanced Internet Services.
Statements regarding financial matters in this news release other than historical facts are "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the company's future expectations, including future revenues and earnings, the anticipated stock dividends and all other forward-looking statements, be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results.
CONTACT: Sitestar Corporation Clinton J. Sallee, 818/380-8180 csallee@sitestar.com |
