CHES - FLANDERS, N.J. and RESTON, Va.--(BUSINESS WIRE)--Aug. 24, 1999--
Chester Holdings Ltd. (Electronic Bulletin Board symbol: CHES) today
announced that it has agreed to acquire PROBITY INTERNATIONAL, INC. of
Reston, Va. PROBITY has developed proprietary software, known as the
"PROBITY GRADIENT", and methodology which allows it to provide the
highest levels of internet security consulting and design services to
corporate and governmental clients world wide.
PROBITY also offers Trusted sub LANs and Trusted Internets which
allow special interest groups to contain highly sensitive activity in
stand alone networks or integrate it into enterprise networks. PROBITY
has provided internet security solutions to the Philadelphia Stock
Exchange since 1997. PROBITY's "Brain Trust" of Security and Fault
Tolerance experts have extensive experience in building evaluated
Trusted products and systems for classified users in both US and NATO
agencies and PROBITY products and systems are currently deployed in
the US Navy and the Department of Defense internet systems.
Michael O'Shea, President of Chester Holdings Ltd., stated, "I am
extremely pleased with the prospect of joining forces with the
management team at PROBITY. Not only will PROBITY insure the security
and integrity of our own proprietary PharmaOn-line system, but we have
already identified a number of other corporate and governmental
clients interested in applying the PROBITY GRADIENT to their existing
proprietary internet systems. We anticipate signing a definitive sales
agreement with PROBITY by mid September, coinciding with our first
funding from Growth Fund International of Australia. Chester has also
been diligently pursuing clients for the PharmaOn-line system and I am
confident that we will be able to announce significant progress on
that front soon."
"Safe Harbor" Statement under the Private Securities Litigation
Act of 1995; to the extent that this press release makes statements
about the future, such statements are forward looking and subject to a
number of risks and uncertainties, including, but not limited to, the
inability to meet all of the required reporting requirements. These
risks could effect the ability of the Company to complete acquisition
and successfully reorganize and resume operations as stated in any
forward looking statements by, or on behalf of the Company. There is
no assurance that the Company will be able to achieve any of its
intended objectives.
For information please phone or fax requests to 1-864-962-8638
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CONTACT: Chester Holdings, Ltd., Flanders
Michael F. O'Shea, President, 864/962-8638 |
