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Technology Stocks : Technovision TVS - Undervalued Internet Service Provider
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To: David Michaud who wrote (64)6/7/1999 9:25:00 PM
From: Glenn Petersen  Read Replies (1) of 108
 
TVS takes a pass on its previously announced acquisition:

tvs.net

Market News: June 07, 1999 ~ VSE trading symbol: TVS
Further to the company's News Release dated May 18th, 1999, Mr. Gordon Tremain, President, today announced that the planned acquisition of an Internet Service Provider with 5,000 customers is not being proceeded with. The due diligence investigation conducted by Technovision staff members disclosed a lack of future economic benefits as originally understood.

Mr. Tremain went on to say "We are continuing an aggressive acquisition campaign, but we will also ensure that any acquisition always adds significant shareholder value and not just numbers for numbers sake. Technovision continues to generate significant positive cash flow and we have a full treasury from the recently completed private placement generating $800,000."

For further information please contact Mr. Gordon Tremain, President &
CEO or visit our website at www.tvs.net.

BY ORDER OF THE BOARD
TECHNOVISION SYSTEMS INC.
_________________________
Gordon Tremain, President

THE VANCOUVER STOCK EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED OF THE
INFORMATION CONTAINED HEREIN.
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