THCG's Partner Company Al-Bawaba Officially Launches `The Middle East Gateway'
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NEW YORK--(BUSINESS WIRE)--Sept. 19, 2000--
New Arabic Internet Portal Offers Original, Independently-Produced
Content With A Pan-Arabic Perspective
THCG, Inc. (NASDAQ:THCG), a leading architect and builder of
global Internet and technology enterprises, today announced that its
partner company, Al-Bawaba, officially launched its new Arabic
Internet portal known as "The Middle East Gateway." Found at
www.albawaba.com, the Internet destination features current news
relevant to the Middle East, in addition to information regarding
Middle Eastern-oriented business, entertainment, sports, tourism,
children and health programs. Al-Bawaba also offers many of its
channels in English, and a business channel in French, thus promoting
the participation of Internet users worldwide.
Targeting over 370 million people in the Middle East, 30 million
Arabs living outside the region and an additional 25 million tourists
who flock to the Middle East each year, Al-Bawaba is supported by
cutting-edge technology, offering the world's most advanced
Arabic-language search engine and the most comprehensive Arabic Web
guide. Propelled by its rich content, which includes email service,
chat rooms, online forums and shopping malls, Al-Bawaba also plans to
be the driving force behind e-commerce in the Middle East.
According to Ramzi Khouri, Editor-in-Chief of Al-Bawaba.com,
"Until now, the media has provided Arabic-speakers with content
translated from foreign agencies or produced with a single locality in
mind. But, we are covering the entire Arab world, handling topics
previously absent on both the Internet and in non-Internet media.
Al-Bawaba is providing Middle Easterners with fresh points of view
from neighbors all over the region."
Ziad Abdelnour, acting CEO of Al-Bawaba, stated, "Al-Bawaba can
now aggressively implement its growth strategy. Funding is in place,
and we have created a high-level strategic planning dialogue with THCG
and our other investors. The key outgrowth of that high-level
partnership is a refined corporate strategy for product development,
revenue generation, and a global marketing and branding campaign. We
have a well articulated plan for making the Al-Bawaba portal a key
Internet destination in the 21 countries of the Middle East and for
those outside of the region with an interest in the Middle East."
Ed Tedeschi, Senior Managing Director of THCG said, "From our
standpoint, Al-Bawaba represents an extraordinary opportunity. They
can play a major role in defining Internet usage among a rapidly
emerging and important online population. The Al-Bawaba product is
varied, in-depth, and homegrown...easily the most engaging and
authoritative Internet voice in the Middle East. Both our investment
and involvement in the strategic planning dialogue are designed to
help accelerate the realization of Al-Bawaba's huge potential."
About THCG, Inc.
Based in New York City, THCG, Inc. is a leading architect and
builder of global Internet and technology enterprises that is rapidly
building a portfolio of partner companies and fee-for-service
activities. Its incubation and acceleration efforts focus on Internet
enabling technologies and the development of promising companies in
the areas of broadband, wireless, telecommunications and telecom
infrastructure. In addition, the Company is also pursuing e-Commerce
and Web-content transactions with a `bricks and clicks' focus.
THCG's partner companies include Convergence MediaGroup, Inc.
(www.cmg-us.com); ENJEWEL (www.enjewel.com); Global Credit Services,
Inc. (www.globalcreditservices.com); Globecom Interactive, Inc.
(www.globecom-interactive.com); IT Utility, Inc. (www.itutility.com);
Test University, Inc. (www.testu.com); and Xtend Networks, Ltd. THCG
also holds investments in over 10 Internet and technology businesses
it acquired through direct investment, equity for services or
acquisitions.
For more information, please visit the Company's Web site at
www.thcg.com.
About Al-Bawaba
Al-Bawaba, a U.S. corporation registered in the State of Delaware
with offices in London and the Middle East, aims to become the leading
online gateway serving the 21 countries of the Middle East. The
Company intends to provide its users with an extensive array of
content-based channels with broadband applications and capabilities.
In addition, Al-Bawaba's online service offerings include tools to
develop affinity relationships through Web-based communities and
participation in a virtual marketplace for both business and
individual e-commerce purposes. Al-Bawaba also provides advertisers
and merchants with the opportunity to intelligently target an audience
with a highly desirable demographic and psychographic profile through
customized advertising delivery and a results tracking service that
uses experiential advertising as its platform.
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995: The statements contained in this release which are
not historical facts are forward-looking statements that are subject
to risks and uncertainties that could cause actual results to differ
materially from those set forth in or implied by such forward-looking
statements. These risks and uncertainties include the Company's entry
into new commercial businesses, the risk of obtaining financing, risks
associated with startup or early stage enterprises, the effect of
demand for public securities, activity in the secondary securities
markets, general economic, political and market conditions, and other
risks described in the Company's Securities and Exchange Commission
filings.
CONTACT: For THCG, Inc.
Continental Capital & Equity Corporation, Longwood, Fla.
Dodi Handy, 407/682-2001
dodi@insidewallstreet.com
or
For Al-Bawaba
Bernard Dishek, 962-6-5814873/4
pr@albawaba.com |
