Wednesday February 24, 10:20 am Eastern Time
Company Press Release
Financial Intranet, Inc. completes Letter of
Intent
ARDSLEY, NY--(BUSINESS WIRE)--Feb. 24, 1999--Financial Intranet, Inc. (OTCBB:FNTN - news) today
announced the signing of a letter of intent to provide communications services to one of the largest single
franchise owners of a major fast food company. FNTN will be delivering content and learning materials to
facilitate employee training between over 100 franchise locations throughout the country
Michael Sheppard, President and Chief Operating Officer of FNTN said ''the completion of this agreement will
represent our first step in expansion to other vertical markets. While our primary focus remains the financial
services sector, we are pleased to be able to service this particular group's distance learning and
communications needs. This project represents $250,000 in additional revenues to the Company.''
Sheppard added ''FNTN is on target with sales projections released at our Annual Meeting of Shareholders on
December 21, 1999. We currently have contracts representing $1.5 million in annual revenues in house, and feel
confident that we will be operationally profitable towards the year end of 1999.''
Financial Intranet, Inc. has established the nation's first proprietary, secured, on-demand data and video
financial information network that links the brokerage and mutual fund industries together and connects both to
the individual investor.
This release contains forward-looking statements within the meaning of Section 27a of the Securities Act of
1993, as amended, and section 21e of the Securities Exchange Act of 1934, as amended. Those statements
include the intent, belief or current expectations of the company and its management team. Prospective
investors are cautioned that any such such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, and that actual results may differ materially from those
projected in the forward-looking statements as a result of various factors.
Contact:
Michael Sheppard
President & Chief Operating Officer
Financial Intranet, Inc.
Voice: 914.693.5060
E-Mail: msheppard@fntn.com |
