PCC Group Announces Acquisition of Existing Online Day-Trading Office, and Spin-Off of Executrade to Shareholders
June 5, 2000 09:46 AM Eastern Time
POMONA, Calif.--(BUSINESS WIRE)--June 5, 2000--PCC Group Inc. PCCG today announced that its subsidiary, Executrade Inc., has recently completed the acquisition of an existing day-trading operation in Los Angeles for an undisclosed amount of stock.
In addition, PCC Group is finalizing plans to spin-off Executrade to PCCG shareholders in the form of a stock distribution on a pro-rata basis.
Jack Wen, president and CEO of PCC Group, commented: "Since September of last year, we have invested much time and money into our online trading division. Headquartered in San Diego, we now have added our first office in Los Angeles.
"Our current plans call for up to six additional online trading centers in California by the end of this year. In addition, we have formulated expansion plans for Executrade internationally into Taiwan, Hong Kong and Europe through joint venture partners."
It is the company's belief that separating the different businesses into distinct, stand-alone public companies will unlock the inherent value for all PCC Group shareholders.
Executrade, utilizing state-of-the-art "Trade-Cast" quote, chart and execution platforms will enable today's active trader the ability to participate in market fluctuations and expects to be able to offer DSL connection as a new "standard," not only from the Executrade offices, but also from remote locations like home.
The company currently has two new Internet businesses:
-- 123CDC.Com, Computer Discount Center, an Internet online computer
sales portal. This site was recently rated overall 12th by Gomez;
7th and 8th on price and consumer confidence, respectively,
reflecting the competitive value of the site.
-- ExecuTradeOnline.com, a newly established online Broker-Dealer,
offering online investing and day-trading services. In November of
1999, PCC Group formed Executive Trading Systems. Executive
Trading Systems develops, markets and supports software, hardware
and Internet-based solutions for brokerages, day-trading firms,
private investors and traders.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein that are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission.
mra/la
CONTACT: PCC Group Inc. Don Johnson, 909/869-6133 or Stock Enterprises James Stock, 702/614-0003 (Investors) jamestock@aol.com
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