note the bold!
(BSNS WIRE) Sitestar Announces Broadband Initiative
Sitestar Announces Broadband Initiative
Business Editors
ENCINO, Calif.--(BUSINESS WIRE)--Nov. 2, 2000--Sitestar
Corporation (OTC BB:SYTE), an Internet holding company, today announced that its wholly-owned subsidiary, Sitestar.net, Inc., has introduced broadband services.
Sitestar.net, Inc. (formerly NEOCOM Microspecialists) is a leading Internet service provider based in Southern Virginia. The company has recently unveiled a broadband initiative aimed at business and residential customers located throughout the company's geographic footprint in the mid-Atlantic region of the US. The service has been
well-received as new business customers have recently been activated.
Broadband revenue for the fourth quarter is projected to triple that of the prior quarter.
"Broadband revenue is up and is adding to our monthly sales," said Joseph Albanese, executive vice president of Sitestar.net, Inc. "We are positioning Sitestar to take advantage of this new growth segment and to add broadband to the variety of services and products we offer.
A key component of our broadband strategy has been to enhance our network with leading-edge technologies designed to enhance the user experience. Our unique combination of satellite, caching and terrestrial connectivity ensures Sitestar's customers will experience the true promise of the Internet. The broadband market is a fast-growing area that we are just starting to exploit. The growth potential within our market is tremendous."
About Sitestar Corporation
Sitestar Corporation is a diversified Internet holding company
that participates, through its wholly-owned Web-based subsidiaries, in
emerging segments of the Internet, such as Internet access and
e-commerce. To sustain its growth, the company acquires and invests in
emerging Internet-related enterprises to create a broad and diverse
set of core Internet businesses that deliver a variety of online
solutions.
Sitestar's wholly-owned subsidiaries include NEOCOM
Microspecialists, Sitestar.net, Soccersite.com, Greattools.com and
Holland-American.com, and has a minority equity investment in Qliq-On
Corporation. Sitestar corporate headquarters are located at 16133
Ventura Blvd., Suite 635, Encino, CA 91436; telephone 818/981-4519;
and facsimile 818/981-2658. Additional information is available on the
company's Web site at sitestar.com.
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.
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CONTACT: Sitestar Corporation, Encino
Clinton J. Sallee, 818/981-4519
csallee@sitestar.com |
