Showstar Online.com Joint Venture to Launch Artstar China
NEW YORK, Jan 27, 2000 (BUSINESS WIRE) --
(OTC BB:ABID)
Showstar Online.com, Inc. (OTCBB:ABID) announced today that it has
finalized its joint venture agreement to launch a China-based version
of Artstar.com. The joint venture will operate under the name Artstar
China from offices in Hong Kong and Beijing, and build a Chinese
language extension of Artstar.com. Artstar China will immediately
commence an aggressive marketing campaign to capture the massive Asian
art market and capitalize on the rapid growth of Internet use in China.
The new Artstar China joint venture has already commenced negotiations
with major art institutions and collections in China, and intends to
build the most comprehensive resource available on Chinese art and
history available in both Chinese and English.
"The climate is perfect for the introduction of an Internet-driven
approach to the world of art in China," said Li Zheng, director Artstar
China. "Our goal is to position Artstar China as the first point of
entry on the Internet for anyone interested in Chinese art and
collectibles. We intend to make Artstar.com the number one online art
brand in China."
"The establishment of Artstar China positions the Company to
aggressively move forward with its quest to become a global leader in
the Internet art market," said John Punzo, President and CEO of
Showstar Online.com, Inc. "Not only is the potential market for
Internet users in the hundreds of millions, China has virtually
untapped art collections and resources that the rest of the world has
until now not had an opportunity to experience. It is our intention to
bring these to life through Artstar China.
Artstar China will employ local Chinese technical staff to facilitate
the creation of the Artstar.com Chinese Website. This includes vast
collections of images, histories and publications that will be made
available online and be available exclusively through Artstar.com.
ABOUT ARTSTAR.COM Artstar.com is the premier art mega-site for
"Everything Art." This is the first site to successfully combine a
wealth of art-related content and experiences in one online location
featuring: exhibitions, auctions, education programs, appraisal and
restoration services, shopping, access to artists, festival
information, virtual art galleries, and much more. Artstar.com makes
the world of art, antiques, and collectibles available to everyone on
the Internet and has something for everyone from the seasoned art
collector to the amateur enthusiast. Artstar.com is a division of
Showstar Online.com, Inc.
ABOUT SHOWSTAR ONLINE.COM Showstar Online.com, Inc., is a premier
developer of Internet websites and e-commerce solutions. The Company
has established a unique and scalable e-commerce infrastructure by
developing and integrating several leading edge technologies. Showstar
will design each of its unique websites to provide information-enriched
content that is directed at lucrative target market segments. The
Company's flagship website property is Artstar.com.
"Safe Harbor" Statement Under The Private Securities Litigation Reform
Act of 1995: The statements in this press release that relate to the
Company's expectations as to risks, in regard to the future impact on
the Company's material results, are forward-looking statements. These
forward-looking statements include terminology such as "premier" and
new products in development, and are subject to risk factors such as
competition, management of growth, financing, and other risk factors
within the meaning of the Private Securities Litigation Reform Act of
1995. The results anticipated by any or all of these forward-looking
statements may not occur.
Copyright (C) 2000 Business Wire. All rights reserved.
Distributed via COMTEX.
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CONTACT: The Company:
Lindsay Malcolm
Investor Relations Officer
877/422-2243 (toll-free)
E-mail: investors@showstar.com
www.showstar.com
or
Financial Relations
FOCUS Partners LLC
Julie Glen/Mona Walsh
212/752-9445
E-mail: abid@focuspartners.com
WEB PAGE: businesswire.com
GEOGRAPHY: NEW YORK INTERNATIONAL ASIA PACIFIC
INDUSTRY CODE: ENTERTAINMENT
INTERNET
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