Georgian Bancorp Inc.
1/23/00 -
Releases 38th Annual Report and Announces Progress on Internet
GEORGIAN BANCORP INC ("GRB,GRB.B-V;GEBNF-L") - Releases 38th Annual Report and Announces Progress on Internet
Georgian Bancorp Inc. announced that the Company's 38th Annual Report, 1999 is now available via a link from the company's website
at www.georgianbancorp.com. (Users are reminded that they will need the Adobe Acrobat Reader(r) which can be downloaded from
Adobe's website at www.adobe.com.) Shareholders and investors who do not have access to the Internet can call the Company toll-free
at 1-888-666-3821 to request a copy of the Annual Report.
As is evident in the financial statements, Georgian Bancorp has invested a significant amount of energy into the development of its
Internet-based subsidiaries, Planet Today Inc. and Planet America (PNTC). The e-world is growing and evolving at a dizzying pace.
The Company knows that a strong strategic position in the online arena is essential to secure future shareholder value. The Company
points to countless other Internet ventures from Amazon.com (AMZN) to Freemarkets Inc. (FMKT) as clear evidence that long-term
profitability built on a foundation of market share, far outweighs the investment needed to secure such market share today.
Georgian's primary vehicle into the new economy is ePlanet Local Area Webs(tm), operating under its wholly owned subsidiary Planet
Today Inc., and 80% owned Planet America Inc. (PNTC). The Company reports that ePlanet is making fast progress considering it has
yet to raise the level of capital investment enjoyed by other Internet start-ups.
Sinclair M. Stevens, Chairman of Georgian Bancorp, describes the Company's progress on the Internet as follows:
"The essence of the ePlanet concept is that most activities are done locally, and if you create a utility that enables people to be
interactive within their own community, you have a system that reflects the true needs (commerce or social) of real people.
"The concept is revolutionary in that if we are right, it will change the buying habits of the world, not just with respect to one product or
one service, but the public will be truly interactive with respect to all of their activities, be it social, recreational, commercial, or
religious.
"We may be a year 2000 counterpart to Microsoft (MSFT), who understood years ago that if you give away software to get people using
your system, you can benefit from the multiple revenue streams that ensue."
Indeed, Mr. Stevens and the team at ePlanet are bringing a new breed of "killer app" to the Internet-one that practically eliminates the
time, frustration, and guesswork involved in surfing the over 7 million active websites today. Users will never be further than one or
two clicks from finding exactly what they need in their local community-wherever that local community may be.
Georgian sees its investment in ePlanet Local Area Webs(tm) as the establishment of a new online infrastructure for local markets where
90% of commerce takes place. This core business is one that will serve as a springboard for the development of any number of future
e-business ventures under the Georgian Bancorp umbrella.
This release contains forward-looking statements which may involve known and unknown risks, uncertainties and other factors that may
cause Georgian Bancorp's and/or Planet America's actual results and performance in future periods to be materially different from any
future results or performance suggested by these statements. TEL: 1-888-666-3821
Georgian Bancorp
Sinclair M. Stevens, Chairman INET : www.georgianbancorp.com EMAIL: smstevens@georgianbancorp.com
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