CHES News . . .
Chester Holdings Ltd. Announces Acquisition of
PROBITY INTERNATIONAL, INC.
Business Wire - August 24, 1999 10:00
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
CONTACT: Chester Holdings, Ltd., Flanders
Michael F. O'Shea, President, 864/962-8638 |
