news out on nstg
FORT LAUDERDALE, Fla., Mar 6, 2000 (BUSINESS WIRE) --
Company Targets $250,000 in Ad Revenues for Quarter2
NorStar Group, Inc., (OTCBB:NSTG) confirmed this morning that its
innovative and cutting edge subsidiary (www.veearecity.com) has
successfully launched its advertising sales campaign on Friday, March
4th.
"I'm very excited about our prospects for a profitable quarter," said
Jerry Saver, NorStar's VP of Interactive Media Sales. "Our sales
executives are now on the street and I have full confidence they will
'bring home the bacon'. I am also happy to report that we 'broke the
ice' on Friday. I think this is a very good omen of things to come.
Right now we are concentrating our efforts on selling banner and button
ad space in our VeeAreCity-TheBurbs section. Many prospective
advertisers seem to favor the strong localized coverage we offer and
they are very impressed with the overall concept of VeeAreCity.com,"
added Saver.
In a recent report published by, PricewaterhouseCoopers' New Media
Group, revenue from Internet advertising exceeded USD1 billion for the
first time in Q3 1999, according to the Internet Ad Revenue Report.
Revenue for the period was USD1.2 billion, bringing the year-to-date
revenue for 1999 to USD2.8 billion, more than double that of the first
nine months of 1998. Total revenue for the year is forecast at about
USD4 billion.
Saver went on to say, "The Pricewaterhouse Cooper report is very
encouraging and I'm confident that VeeAreCity.com will receive more
than its fare share of total Internet advertising revenues."
The Company also announced this morning that it has launched the
Orlando, VeeAreCity-TheBurbs section and more cities are due to go
online within a few weeks.
VeeAreCity.com is a next generation Internet portal providing News,
Weather, Sports, Financial Center, Stock Quotes, Health & Wellness
Center, Email, Chat, Forums, Personals, Classifieds, Games, Shopping
Mall, and featuring VeeAreCity-TheBurbs, a group of city specific
websites providing unparalleled local/regional coverage of 21 major
U.S. Cities. Coming later this year Auctions, Instant Messenger, Voice
Chat, and a broad line of fully immersive IVR (Internet Virtual
Reality) Chat and Game Rooms. Through selective acquisitions and
partnering alliances, NorStar Group, Inc. (OTCBB:NSTG) is positioning
itself to be a leading provider of interactive, virtual reality,
entertainment, educational, and business products and services. NorStar
is also the co-developer of a proprietary lightweight, comfortable and
affordable virtual reality headgear, The Cybervisor(TM), which is
designed for home, business, and school use.
Safe Harbor: Certain statements contained in this press release,
including but not limited to information regarding the future economic
performance and financial condition of the Company, the plans and
objectives of the Company's management and the Company's assumptions
regarding such performance and plans, are forward-looking in nature.
Many factors and conditions could cause actual results to differ from
the forward-looking information contained in this public announcement.
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