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Tuesday July 13, 9:00 am Eastern Time
Company Press Release
SOURCE: CyPost Corporation
CyPost Corporation Enters Pacific Northwest ISP Market
DOVER, Del., July 13 /PRNewswire/ -- CyPost Corporation (OTC Bulletin Board: POST - news) is pleased to announce its entrance into the Pacific Northwest Internet service provider market with the signing of a letter of intent with Internet Arena of Portland Oregon. With a cash value of $600,000 USD, the acquisition is expected to be complete in early September.
''The initiation of coverage for the Pacific Northwest is an exciting opportunity for CyPost,'' said Steve Berry, president and chief executive. ''We look forward to bringing the resources of CyPost's network of privacy and protection solutions to the excellent foundation Internet Arena has built in the Oregon market.''
In addition to traditional dial up customers, Web-hosting, and DSL service, Internet Arena www.inetarena.com has built a diverse customer base from all over the globe with their co-located server hosting. Internet Arena's high level of up-time, strong technical support, and multi-faceted approach to Internet services has won the support of local gaming programmers and professionals.
''The level of technical talent found at Internet Arena is extraordinary,'' said Mr. Berry. ''Bringing them together with our team at CyPost will increase our ability to offer a higher level of productivity and performance to all our customers.''
''Portland possesses all of the key attributes that will make it the next hub of the technology industry, including a strong pool of talent,'' said Carl Whitehead, CyPost's director of strategic growth. ''The silicon forest of the Pacific Northwest is an excellent place for us to enter this market.''
Internet Arena marks the third ISP CyPost has acquired in the past sixty days as the company aggressively moves forward in building a strong foundation for providing privacy and protection globally to businesses and individuals at the ISP level. By integrating privacy and protection at the ISP level, it becomes more seamless, easier to use, and therefore more effective.
''We have been focusing on Internet companies with solid customer bases and innovative in-house talent. We are also developing strategic alliances and partnerships that will contribute to producing the best possible product and service for our clients,'' said Berry. ''It is CyPost's commitment to lead the way to a private and protected information highway in the 21st Century.''
The need for the privacy and protection technology CyPost is developing is supported by the number of people currently on-line and the extensive losses companies are incurring due to information theft. According to a June 1999 study conducted by NUA Internet Surveys there are 179 million people on-line, and up to 4 trillion e-mails are sent annually. Fortune 1000 firms and the 300 fastest growing U.S. companies are losing over $250 billion annually to information thieves according to a 1997 ASIS study.
''When you look at these figures and the dollar amounts businesses are losing due to information thieves it becomes very clear that information privacy and network protection are major issues businesses need to address,'' said Berry. ''CyPost is positioning itself to provide these essential privacy and protection services to individuals, corporations, and government institutions in an efficient and cost effective manner.''
About CyPost
CyPost Corporation www.cypost.com develops cost-effective, broad-based solutions enabling individuals, business professionals and corporations to fully benefit from existing and emerging privacy and protection technologies in the communications industry, including Intranets and the Internet.
Its flagship product, Navaho Lock www.navaholock.com, is an easy to use encryption program. Using a drag and drop interface, Navaho Lock permits both individual and business clients to keep their electronic information, whether stored on a personal computer, used on a network, or sent across the Internet, completely private and protected.
Except for historical matter contained herein, the matters discussed in this press release are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect assumptions and involve risks and uncertainties, which may affect CyPost Corporation's business and prospects and cause actual results to differ materially from these forward looking statements.
SOURCE: CyPost Corporation
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