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Vertical Computer Systems, Inc. Owns 25.2% Stake in French Shopping Portal Provider Externet World Sarl
LOS ANGELES, Feb 24, 2000 (BUSINESS WIRE) -- Vertical Computer Systems, Inc.
(OTC:VCSY) announced today that it now owns 100% of Externet World, Inc., and as
a result, owns a 25.2% interest in French shopping portal provider Externet
World Sarl, a French Corporation.
Externet World Sarl's primary French shopping portal is Chrono-shop.com located
at chrono-shop.com and is also available from Shopping Internet.Fr
located at shoppinginternet.com. Externet World Sarl currently
employees 65 people in France, and had approximately US $2,000,000 in unaudited
revenues for the period ending December 31, 1999.
Richard Wade, president, stated: "Developing a relationship with an established
shopping portal in France is a major accomplishment for Vertical Computer
Systems and will aid the Company in bringing its own French portal into the
marketplace in the near future. France is currently one of the most difficult
regions in the world to establish an Internet presence due to the country's laws
and specific selling restrictions. We felt it necessary to enter now before
other portals attempt penetration and felt Externet World Sarl was the proper
vehicle due to their large Internet staff and established French presence."
About Vertical Computer Systems:
Vertical Computer Systems, Inc. is a multi lingual portal provider, and
e-commerce solutions company, based in the United States. The Company provides a
full range of Internet services that include building e-commerce solutions
nationally and internationally, distributing content via its multi lingual
portal network (http://www.TheChinaBridge.com); and Internet Services
thepostmaster.net). Through its majority-owned subsidiary, Externet
World, Inc., the Company provides online shopping services
(http://www.ShoppingInternet.com) and proprietary online gaming software
(http://www.ccpsoftware.com). Vertical Computer Systems is committed to building
e-commerce communities allowing the development of the Internet in the Americas,
Europe, Asia and Pacific Rim.
This material was disseminated by The Hawke Group, Inc. ("Hawke") for the
Company discussed herein, based upon Company supplied information or other
sources believed to be reliable. The information is not guaranteed by Hawke for
accuracy or to be all inclusive. Forward-looking statements in this release are
made pursuant to the Safe Harbor provisions of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are subject to certain
risks and uncertainties and actual results could differ from those discussed.
This material is information only and is not an offer or solicitation to buy or
sell the securities. Hawke, its affiliates, and/or its officers, directors and
employees may from time to time have a position in these securities. Vertical
Computer Systems, Inc. has retained The Hawke Group as a Financial Public
Relations Consultant for the option to purchase 30,000 shares of restricted
stock at .05 per share.
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