In memory of "Bob".
Monday October 4, 10:28 am Eastern Time
Company Press Release
Hitsgalore.com Reports 50% Increase In Portal Service
Usage and Significant Growth in its Keyword Bid
Model
RANCHO CUCAMONGA, Calif.--(BUSINESS WIRE)--Oct. 4, 1999--Hitsgalore.com, Inc. (OTC BB:HITT) announced
today that the Company has experienced a 50% growth in Portal Service usage. The Company added over 2,500 new registered
members through its new portal services in just the last quarter alone.
Dorian Reed, Chairman of Hitsgalore.com stated, ``We take this growth as a solid sign of confidence, from both users and
sponsors, in Hitsgalore.com as a Search Portal and in the services Hitsgalore.com provides. We are looking forward to our 4th
quarter to continue this growth trend. The Company feels its latest music Portal Service 'Free Billboard (TM) Hits`` will help spur
4th quarter membership sign-ups.'
The Company also reported that its sponsor base has also grown significantly. As of this last quarter, according to Reed, ``We
have almost 4,000 sponsors. And we have some keyword sponsors bidding as high as $35.00 per click-through on certain
keywords.'
The Company cites sponsor satisfaction with the quality of leads provided as the reason many of its sponsors are willing to bid so
high for top positions in many categories throughout the Company's search portal. The Company believes its search portal attracts
the highest bids for keyword ranking among any ``pay for performance' search portals on the net.
Reed continues, ``We are looking forward to releasing our new Audio Banner technology this month. This Portal Service, like all
others, will be free. We feel it will also add additional traffic to our site and thus to our valued sponsor base.'
The Company also acknowledged the recent downward slide of the company stock price in recent weeks. Reed stated, ``Our
mission as a young and new public company that did not get millions in an IPO, is to stick to the fundamentals and make a profit.
We are doing that. We can't operate a profitable business while consumed in a toe-to-toe battle with bashers and negative news
reporting. Let the numbers speak for themselves quarter after quarter. We of course feel long term investors will do well with
Hitsgalore.com if they do what we do: stick with the fundamentals and stay with company's that have a business model that works
and that are capable of making a profit.'
Hitsgalore.com (http://www.hitsgalore.com) has a unique business model of giving away free banners, lifetime banner placement,
and other Portal Services. The Company believes its business model compares favorably with other Internet music portals such as
MP3.Com Inc. (Nasdaq:MPPP - news), Musicmaker.com Inc. (Nasdaq:HITS - news), CDNow Inc. (Nasdaq:CDNW - news)
and Liquid Audio Inc. (Nasdaq:LQID - news),and with search engine companies such as Lycos, Inc. (Nasdaq:LCOS - news),
GoTo.com, Inc. (Nasdaq:GOTO - news), Infoseek Corporation (Nasdaq:SEEK - news) and Yahoo! Inc. (Nasdaq:YHOO -
news).
Statements in this press release other than historical facts are ``forward-looking' statements within the meaning of Section 27A of
the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private
Securities Litigation Reform Act of 1995. Hitsgalore.com, Inc. intends that such statements about the Company's future
expectations, including future revenues and earnings, and all other forward-looking statements are subject to the safe harbors
created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to
change at any time, the company's actual results could differ materially from expected results.
Contact:
Hitsgalore.com, Inc., Rancho Cucamonga
Danny Gavin, Investor Relations
800/300-5388, or investor@hitsgalore.com
More Quotes and News:
Hitsgalore.com Inc (OTC BB:HITT.OB - news)
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