PRESS RELEASE:
Friday September 17, 3:12 pm Eastern Time
Company Press Release
Viking Confirms On-Line Bank Market Growth In Line With Strategic Plans
DALLAS--(BUSINESS WIRE)--Sept. 17, 1999--New research released by two prominent Internet research firms shows that the projected growth in the online banking market is in line with estimates previously released by Viking Capital Group, Inc. (OTC BB: VGCP - news).
The results of a Forrester Research survey found that while only five percent of households bank online today, that number is expected to climb to 17 million households within the next three years. According to another survey - this one by The Online Banking Report - reports that online banking is expected to achieve 20 to 25 percent market penetration totaling 25 million U.S. households within the next 36 months.
Viking has positioned itself to be the benefactor of this emerging market and will employ all its resources to capture market share.
About Viking Capital Group, Inc.
Viking Capital Group, Inc., head office in Dallas, is creating a group of streamlined companies to provide specialized administration services, using proprietary technology to reduce costs and improve quality of service to insurance companies, banks and other financial institutions. Simultaneously, the Company plans to purchase and manage its own portfolio of insurance Company assets. The Company's strategic goal is to acquire $1.5 billion in insurance managed assets through the purchase of existing life insurance companies. Viking is a fully reporting SEC Company and is traded on the OTC - BB market under the symbol VGCP. Contact Viking on the World Wide Web. vcgi.com
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.
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.
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Contact:
Viking Capital Group Inc., Dallas
Matthew W. Fossen, 972/386-9996
mfossen@vcgi.com
Web : www.vcgi.com
regards,
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