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September 02, 1999 08:46
PlayStar Wyoming Holding Corporation Company Announcement
ST JOHN'S, Antigua--(BUSINESS WIRE)--Sept. 2, 1999--PlayStar Wyoming Holding Corp. (OTC BB:PSCKF)(PSCKF) announces the successful conclusion of system and transactional processing testing with SouthBank and Trust and Multicredit, S. A. of Guatemala. Going forward on the basis of the previously signed agreement, PlayStar systems demonstrated the capability to handle not only the current processing requirements of the Bank of $57,000,000 (USD) per year based on 1998 and 1999 figures, but the speed and capacity to deal with the Bank's projected doubling of those numbers, to $114,000,000 (USD) for the next fiscal year.
Throughout the period of testing, PlayStar's technical group was required to improve the Banks' existing software to provide the ability to process credit back transactions and increase security. That work has been completed by the PlayStar technical team.
PlayStar is in the process of finalizing its relationship with the Banks to become their one stop software solution provider for the entire e-commerce chain.
PlayStar has intensified its focus in becoming an industry leader by providing one stop solution for e-commerce, while at the same time, increasing the robustness, interconnectivity, and levels of encryption of existing systems. Following completion of this project, PlayStar expects to be unique in the market place in providing a fully integrated approach for internet commerce users without the necessity of resorting to third party contractors to provide links in the processing chain.
Over the past two months, PlayStar has been engaged in other significant and successful testing programs and expects to be in a position to announce the outcome shortly.
The statements in this press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to safe harbor created by these sections. Actual results may differ materially from PlayStar's expectations.
CONTACT: PlayStar Corporation, 800/977-7787
Email: ir@playstar.com
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