SALT LAKE CITY, Aug. 20 /PRNewswire/ -- PrimeHoldings.com, Inc. (OTC Bulletin Board: PRIM - news) today announced
that it has signed an agreement to acquire JustGiftIdeas.com, Inc., an Internet company preparing to launch a new web site for
consumers looking for ideas on gifts they can buy online. Additional details of the agreement were not released.
JustGiftIdeas.com is planning next month to officially unveil its portal site where consumers can go for comprehensive information
on where to shop for gifts, ideas for types of gifts to give, and special deals and discounts available through JustGiftIdeas.com
affiliates. When unveiled, the site will become a one-stop location for all kinds of gift giving ideas from music and toys to flowers
and apparel products.
Gift giving is one of the Internet's fastest-growing e-commerce activities, accounting for 16 percent of all online purchases
according to Jupiter Communications. During the 1998 holiday shopping season alone, Jupiter says consumers purchased more
than $2.3 billion in gifts, up from $1.1 billion during the 1997 holiday season.
A rapidly growing segment of the gift-giving market is teenagers and pre-teens, which Jupiter predicts will account for more than
$1.3 billion in online purchases in 2002. A recent Ernst & Young study found that the number of retailers now offering products
online rose from 12 percent in 1997 to 39 percent in 1998, fueling the growth in online shopping and gift-giving.
''JustGiftIdeas.com will give PrimeHoldings.com a strong e-commerce entry with which to take advantage of the rapidly growing
demand for online gifts,'' said Thomas E. Aliprandi, president and CEO of PrimeHoldings.com. ''We see this proposed acquisition
as an important way to diversify our holdings, add strength to our e-commerce portfolio and position the company for accelerated
future growth.''
About PrimeHoldings.com, Inc.
PrimeHoldings.com, Inc., formerly PrimeSource Communications Holdings, Inc. traded under (OTC Bulletin Board: PSCM -
news) develops and operates Internet-based and Internet-related technology companies that together form a community focused
on business intelligence and electronic commerce. Current PrimeHoldings.com companies include: bCard.net, a leader in smart
card technologies; Navilor, a leader in automated forms processing services; eROI, a cutting-edge provider of technology for
evaluating hard-to-measure business processes such as training and UniQuest Communications, a top agency of
telecommunications reseller UniDial, Inc. For more information call 801-562-1444 or visit www.primeholdings.com.
Additional information is available from the Interactive Business Channel (www.ibchannel.com).
This news release may include statements which constitute forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Please be cautioned that any such forward-looking statements are not guarantees of
future performance and involve significant risks and uncertainties, and that actual results may vary materially from those in the
forward-looking statements as a result of any number of factors, including the risk factors contained in the Company's disclosure
documents.
NOTE: All trademarks named above are the property of their respective holders
SOURCE: PrimeHoldings.com Inc.
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