NEWS
Monday November 29, 5:31 am Eastern Time
Company Press Release
eConnect Announces $250,000 to Be Spent This Week in Up to $1,000,000 Stock Buyback Over Next 30 Days
LOS ANGELES--(BUSINESS WIRE)--Nov. 29, 1999--eConnect (OTC BB:ECNC - news), fully reporting, has announced $250,000 to be spent this week in buying back eConnect stock in the open market. The stock will be held in certificate form.
''Our share price is undervalued and we are exploring all means to increase shareholder value. We will be expending up to $1,000,000 over the next 30 days to buyback eConnect stock in the open market and to remove it from the float,'' stated Thomas S. Hughes, Chairman and CEO.
eConnect is focused on enabling internet cash payments and generating fees from such services.
SAFE HARBOR:
Certain statements in this news release contain forward- looking information within the meaning of Section 27A of the US Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934,and as contemplated under the Private Securities Litigation Reform Act of 1995, and are subject to the safe harbor created by those sections. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward- looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
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Contact:
eConnect
Carnegie Cooke or
Anita Goldberg, 800/262-2331 (investor relations)
or
Prima Capital (for ET&T)
Elias Argyropoulos, 800/600-859
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