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News out @ KAHI should do well, fully reporting 25MM float.
Nutek Inc. Confirms Strategic Alliance with Kaire Holdings Inc.
Business Editors and High-Tech Writers
LAKE FOREST, Calif.--(BUSINESS WIRE)--Sept. 21, 1999--Nutek Inc.,
(OTC BB:NUTK), a holding company, confirmed the Strategic Alliance
formed with Kaire Holdings Inc., (OTC BB:KAHI).
Nutek confirmed that it has completed a sales and marketing
agreement, a joint developmental agreement and a promotion and revenue
sharing agreement with Vitaplanet.com, a division of Kaire Holdings
Inc. Vitaplanet.com is a provider of health, beauty and wellness
products on the Internet, and is about to launch their online
pharmacy.
Vitaplanet.com will be only one of a small number of online
pharmacies that can market and sell more than 10,000 prescription
pharmaceutical products throughout all 50 states. Vitaplanet.com has a
very strong niche in the market where other players include CVS Corp.
(CVS), drkoop.com Inc. (KOOP), Drug Emporium Inc. (DEMP),
drugstore.com Inc. (DSCM), Healtheon Corp. (HLTH), Longs Drug Store
Corp. (LDGE), OnHealth Network Corp. (ONHN), Rite Aid Corp. (RAD) and
Walgreen Co. (WAG).
Under the agreement, vitaplanet.com will be the featured online
pharmacy in the Nutek online shopping mall, which already has over
1 million products for it's debut in early October. Vitaplanet.com
will in turn also distribute our very successful Navy Seal Exercise
videos on the vitaplanet.com Web site.
Additionally, Vitaplanet.com and Nutek have agreed to join
together in the development of specific exercise and fitness products
marketed for vitaplanet.com's targeted audience, the senior market.
These will be created using Veteran Navy Seal Scott Helvenston of
Elite Fitness Systems Inc., one of Nutek's subsidiaries.
As the company grows its online shopping mall over time, it
intends to offer products as well as services found on sites such as
Amazon.com (AMZN), eBay (EBAY), shopping.com (IBUY), cdnow (CDNW) and
Beyond.com (BYND).
According to Jupiter analyst Ken Cassar, about 17 million people
will come onto the Internet for the first time this holiday season;
furthermore, Jupiter has estimated online holiday spending will jump
to $2.3 billion, up from $1 billion last year, and Forrester Research
expects it to reach $3.5 billion.
Safe harbor for Forward-Looking Statements:
Except for historical information contained herein, the
statements in this release are forward-looking statements that are
made pursuant to the safe harbor provision of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements involve
known and unknown risks and uncertainties, which may cause the
company's actual results in future periods to differ materially from
forecasted results. These risks and uncertainties include, among other
things, volatility of prices, product demand, market competition,
risks inherent in the company's operations.
--30--JS/np*
CONTACT: Nutek Inc., Lake Forest
949/587-9400
Fax: 949/587-9534
E-mail: investors@nutk.com
Web site: www.nutk.com
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED
INTERACTIVE/MULTIMEDIA/INTERNET MEDICINE PHARMACEUTICAL
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
URL: businesswire.com
Sep-21-1999 04:19 GMT
Symbols:
US;NUTK US;KAHI
Source BW Business Wire
Regards,
Elwyn |
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