Press Release:
biz.yahoo.com
Company Press Release
Viking Systems Announces Three
Pending Endorsements From
Organizations Affiliated With More Than 1000 Banks
DALLAS--(BUSINESS WIRE)--Aug. 6, 1999--Viking Systems, Inc. (VSI) - a wholly
owned subsidiary of Viking Capital Group, Inc. (OTC BB:VGCP - news) - announced in July
the rollout of its Internet-based remote banking and remote bill pay systems (called IP Banker)
for financial institutions such as banks, savings and loans, credit unions and investment bankers.
Today, Viking is negotiating an endorsement deal with three institutions who can recommend
the system to more than 1,000 banks around the country.
''These arrangements should more than keep our State Account Representatives busy and
help VSI achieve its immediate goal of 150 financial institution contracts with its Service
Bureau for remote banking by 7-1-2000,'' said VSI President Garry Millar.
The remote banking system is provided via the Service Bureau Center located at the
Company's computer center in New York City. Each institution is wired directly to the Service
Bureau, via Viking Capital Financial Network (VCFN), giving the client financial institution's
customers 24 hours a day, seven day a week accessibility to their private accounts via the
internet. The Service Bureau approach provides security with technology and compliance
updates, keeping all financial institution clients constantly up to date at no additional charge.
About Viking Systems, Inc.
Viking Systems, Inc., is a wholly owned subsidiary of Viking Capital Group, Inc. (OTC
BB:VGCP - news), headquartered in Dallas. Viking Systems, Inc. is responsible for all data
processing and technology needs of its parent and sister companies and its external customers.
VSI's focus is developing its private network (Viking Capital Financial Network) to provide all
of its customers high quality video, voice, and data communications and to further serve those
customers by providing, in cooperation with its sister companies, applications and additional
products and services over the private network and the Internet. These Internet based
products and services include Universal IP (insurance), IP Banker (remote banking), Benefits
IP (employee benefit plan data processing), IP Trader (securities trading) and IP Marketer
(sales organizations). The Company's target market is financial services operations such as
banks, insurance companies, and employee benefit plans.
Contact Viking on the World Wide Web. vcgi.com
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995.
Certain statements made by the Company which are not historical facts may be considered
forward-looking statements, including, without limitations, statements as to trends,
management's beliefs, expectations and opinions, which are based on a number of assumptions
concerning future conditions that may ultimately prove to be inaccurate. Such forward-looking
statements are subject to risks and uncertainties and may be affected by various factors which
may cause actual results to differ materially from those in the forward-looking statements.
Among the factors that could cause actual results, performance or achievement to differ
materially from those described or implied in the forward-looking statements are general
economic conditions, competition, potential technology changes, changes in or the lack of
anticipated changes in the regulatory environment in various countries, the ability to secure
partnership or joint-venture relationships with other entities, the ability to raise additional
capital to finance expansion, and the risks inherent in new product and service introductions
and the entry into new geographic markets.
For further information which could cause actual results to differ from the Company's
expectations, as well as other factors which could affect the Company's financial statements,
please refer to the Company's report filed with the Securities and Exchange Commission.
Contact:
Viking Capital Group Inc., Dallas
Robert Cathey, 423/584-0550 (Media Contact)
rcathey@ackermannpr.com
or
Matthew W. Fossen, 972/386-9996 (Investor Contact)
mfossen@vcgi.
Regards,
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