Company Press Release
NetNation Expands Into Europe
VANCOUVER, British Columbia--(BUSINESS WIRE)--July 15, 1999-- NetNation Communications Inc. (OTC BB: NNCI), a leading provider of Web hosting and E-Commerce solutions, announced today the opening of a new corporate office in London, England. Located in central London, it is anticipated the new office will officially commence operations in early August. The Company has formed a wholly owned UK subsidiary, NetNation Communications UK Ltd. (www.netnation.co.uk).
''NetNation is positioning itself to become the premiere Web site hosting and E-Commerce solutions provider in Europe,'' said David Talmor, CEO of NetNation. ''As the European online community grows, we'll have a great opportunity to market our fully-featured, turn-key Web hosting and E-Commerce services. The UK office will allow us to better serve the growing European market, adding value for our new and existing European clients.''
NetNation's expansion corresponds with the explosion of Internet connectivity in Europe where, according to Forrester Research, the online market is expected to grow from $105 million in 1998 to $2.8 billion in 2003. With the rate of Internet connectivity in Europe currently exceeding that of the United States, the proliferation of Web-based businesses generated in Europe presents a significant opportunity for NetNation. Forrester Research projects that E-Commerce worldwide will reach $3.2 trillion by 2003.
''We thought very carefully about this expansion for some time,'' said Talmor. ''We wanted to make absolutely sure we could manage our growth and maintain our same high standards for quality and service that are so important to our success.''
In line with NetNation's growth, Jag S. Gill has joined NetNation as General Counsel. Gill, B.A.(Econ.), LL.B., has experience in business operations management and has practiced law in the following areas: corporate, commercial, real estate and intellectual property.
NetNation Communications Inc. (www.netnation.com) is an international provider of Web hosting and E-Commerce solutions. With over 25,000 domain names registered for clients in 91 countries, the Company has established a leading position in the global Web hosting marketplace. NetNation has been consistently ranked among the top 10 Web hosts in the world by leading industry evaluators, HostIndex (www.hostindex.com) and TopHosts (www.tophosts.com), and has been selected by ICANN as an official registrar of Internet domain names. With this designation, NetNation joins an elite group of companies that includes Network Solutions (NASDAQ: NSOL - news), America Online (NYSE: AOL - news), AT&T (NYSE: T - news) and France Telecom (NYSE: FTE - news).
Any forward-looking statement made by NetNation is made pursuant to the ''safe harbor'' provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that actual results may differ substantially from such forward-looking statements. Forward-looking statements involve risks and uncertainties including, but not limited to, economic and political factors, market factors, as well as the inherent risks of Internet related business.
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Contact:
NetNation Communications Inc.
North American Contact:
John Gomez, 604/688-8946 ext. 133
gomez@netnation.com
or
European Contact:
Joseph Kibur, +44 207 749 7308
kibur@netnation.com
or
Investor Relations, 800/773-7317 or 604/331-9583
ir@netnation.com
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