Press Release:
biz.yahoo.com
Monday September 27, 8:45 am Eastern Time
Company Press Release
Staruni to Distribute
ibargain.com Stock to
Shareholders
BEVERLY HILLS, Calif.--(BUSINESS WIRE)--Sept. 27, 1999--Staruni Corp. (OTC
BB:SRUN - news) announced that it had authorized the distribution of 1 share of
ibargain.com for each 2 shares of Staruni held; no fractional shares will be issued.
Fractional shares will be paid out at $4 per share. The distribution will be made on
November 15, 1999, to shareholders of record on October 21, 1999.
This distribution of shares by Staruni will be in the form of a dividend to its shareholders.
Staruni is a 100% owner of ibargain.com. Staruni will be distributing 30% of its shares to its
shareholders, as well as an additional 15% to private investors.
At this time, the Company makes no opinion regarding the tax consequences. The
Company suggests that independent tax advice concerning this distribution be obtained.
ibargain.com was formed as a bargain retailer on the World Wide Web. It plans to develop
an auction site as well as a ``price-search' site.
Staruni Corporation, based in Southern California, provides Internet access and
e-commerce solutions to both individual and business users. Staruni is aggressively
expanding its customer base through the acquisition of existing providers, as well as strategic
alliances with e-commerce companies
Staruni is presently developing various e-commerce sites. They include
officewarehouse.com, an on-line office supply store; igold.com, an on-line jewelry store;
loveandmarriage.com, a wedding registry site; casinodirectory.com, a cyber-guide to
domestic and international gaming; and whattup.com, a ``Yahoo'-type portal.
On Sept. 23, 1999, Staruni announced that it will be filing a Form 10 with the SEC in the
next 30 days and will then be a fully reporting company.
The release herein may contain or identify forward-looking statements. These statements are
based on a number of assumptions and estimates that are inherently subject to uncertainty
and contingencies, many of which are beyond the control of the company and reflect future
business decisions that are subject to change.
Contact:
Staruni Corp., Beverly Hills
Bruce D. Stuart, 310/358-2340
Fax: 310/358-2344
www.cyberhotline.com and www.staruni.com
webmaster@staruni.com
Regards,
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