Thursday March 30, 8:57 am Eastern Time
Company Press Release
Translation Group Signs Strategic Alliance With ProNetLink.com
HADDONFIELD, N.J.--(BUSINESS WIRE)--March 30, 2000--The Translation Group Ltd., (NASDAQ OTCBB:THEO - news) announced today that it has entered into a strategic alliance with ProNetLink.com. (NASDAQ OTC BB:PNLK - news).
Under the terms of the agreement, the companies will leverage their products and services to provide quality, on-line multilingual translation tools for ProNetLink.com registered users to increase and enhance their B2B e-commerce on the Global Trade Internetwork.
ProNetLink.com offers a frictionless e-commerce solution for global trade. ProNetLink's web site (www.ProNetLink.com), called the Global Trade Internetwork, is an online, interactive community where businesses work to arrange all aspects of global trade including procurement, logistics, finance, insurance, product certification and much more.
The Translation Group (``TGL'), through its subsidiaries in the US, Europe and Asia, will provide multilingual text translation to support the global business community of ProNetLink.com users. TGL translation services will initially be utilized by the ProNetLink.com Country Portals, Trade Leads and larger user international trade documents.
As the Company introduces the text-to-text software-based system, licensed exclusively from Swedish-based ESTeam, ProNetLink.com users will enjoy nearly instantaneous translations of their documentation and communications.
By translating text throughout ProNetLink.com's country portals, TGL will expose itself to the many users who themselves require multilingual services, primarily in ProNetLink.com's Trade Lead Database.
ProNetLink.com has integrated online alliances with significant international trade services like UPS, AT&T, Dun & Bradstreet, Dow Jones New Services, Reuters, SWBC International and Aon Insurance.
``This alliance will provide a truly multilingual Global Trade Internetwork, allowing ProNetLink.com users the ability to locate world trade information in their language and will expand the TGL presence into the multilingual e-commerce solution environment' said Randy Morris, CEO of TGL.
About the Translation Group Ltd.
The Translation Group Ltd. (www.ttgl.com), through its subsidiaries in the US, Europe and Asia, is a leading global supplier of multilingual products and solutions via the Internet.
The Company is organized into three synergistic business units: 1) Translation and Localization, 2) Internet, Intranet and Extranet Websites and Solutions, and 3) Automated and Semi-Automated Advanced Computer Software and Systems.
The new text-to-text computerized software translation technology to which the Company has exclusive rights, the BTR system, built to achieve accuracy levels comparable to human translation, will shortly be introduced internationally for sophisticated and highly technical multi-lingual software translation.
This major technical innovation will initially permit nearly instantaneous translation of financial documents such as Annual Reports, IPO Prospectuses, 10Qs, 8Qs, Proxy Statements, etc., via the Internet.
About ProNetLink.com
ProNetLink.com, The Global Trade Internetwork, is a comprehensive business-to-business E-commerce portal designed specifically for the international trade community. The site features procurement, logistics, finance, insurance, certification, compliance, seminars and other tools critical to businesses looking to expand into the global marketplace, particularly SME's.
In addition to locating potential markets and trade partners, ProNetLink.com members may conduct business functions online, participate in live trade event netcasts, communicate in real-time with trading partners and receive the critical information and resources necessary for the continued growth of their businesses.
ProNetLink.com, which currently has member companies from 106 countries, also features PNL-TV, the Internet's first trade news broadcast network. PNL-TV broadcasts a live Monday through Friday at 11am EST featuring current global trade news, interviews with government and international business leaders and reports from correspondents from around the world. (www.PNLTV.com)
This press release includes forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although Translation Group believes that its expectations are based on reasonable assumptions, it can give no assurance that its goals will be achieved.
Important factors that could cause actual results to differ materially from those in the forward looking statements contained herein include, among others, the need to obtain additional capital, the extent of current or future competition, the need to protect its proprietary rights to its technology and the need to capture the markets for its technologies and products.
Interested parties are also urged to refer to additional information regarding the Translation Group, which is contained in its reports to the Securities and Exchange Commission.
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