TownPages Announces Intention to List BuyersGuide Subsidiary - Formerly
Bowden Publishing - On the London Stock Market
ALTON, England, Jan 11, 2000 (BUSINESS WIRE) -- TownPagesNet.com plc
(AMEX: TPN), a provider of Internet-based on-line information services
in the UK, has announced its intention to take its B2B (business to
business) subsidiary BuyersGuide public in the UK and seek a listing
for it on the London stock market.
Based in Newcastle-upon-Tyne, Bowden publishes the well-known
Internet-based Local Government & Public Service 'Buyers Guide'
(www.buyersguide.co.uk), which attracts in excess of 2,500 advertisers
annually. Since its formation, the company has grown from two to 30
employees and built up a client list including blue chip companies such
as Microsoft (NASDAQ: MSFT), Coca-Cola (NYSE: KO), IBM (NYSE: IBM) and
Canon (NASDAQ: CANNY), together with a wide range of telecommunications
companies. Stephen Hall of TownPages commented: "TownPages is enhancing
and expanding the BuyersGuide service by adding e-commerce capabilities
to its current advertising service. BuyersGuide's revenue-generating
potential is likely to prove extremely attractive to investors when
listed on the London stock market. Local government authorities'
current purchasing expenditures are worth in excess of (pound)400
billion per year. This market attracts advertisements by many
suppliers. We are extremely excited by the considerable commercial
opportunities for BuyersGuide."
TownPagesNet.com plc owns Town Pages UK Ltd., which operates TownPages,
an interactive service providing comprehensive, up-to-date, locally
focused information about specific towns and cities in the United
Kingdom in a graphically pleasing format. On May 5th, 1999, the company
consummated the initial public offering of its securities in the US for
gross proceeds of $22,000,000.
"Safe Harbor" statement under the Private Securities Litigation Reform
Act of 1995: This release contains forward-looking statements that are
subject to risks and uncertainties including, but not limited to, the
impact of competitive products and pricing, product demand and market
acceptance, reliance on key strategic alliances, fluctuations in
operating results and other risks detailed from time to time in the
Company's filings with the Securities and Exchange Commission.
TownPages(R)' website can be found at www.TownPages.co.uk
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