NSTG nice $15 mil deal outstanding is only 15 mil and a 9 mill float--- Should be a nice climber for the next week or two.
Thursday January 11, 10:41 am Eastern Time
Press Release
NorStar Inks Major Indonesian Deal Pact Worth USD$15 Million
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Jan. 11, 2001--NorStar Group, Inc., (OTCBB:NSTG - news) announced this morning that its innovative and cutting edge domain (www.veearecity.com), has signed an exclusive distribution and licensing agreement with Pt. Sario Jasa Raya, of Jakarta, Indonesia for the purpose of the wholesale distribution of NorStar's proprietary Cybervisor(TM) virtual reality headgear throughout the Republic of Indonesia.
``NorStar could reap a bonanza from this deal,'' said Jay Sanet, NorStar's Director of Corporate Development. ``Indonesia is our gateway to the Orient. There is an estimated 4 million Indonesian Internet users and that number is growing. And there's more. According to the Gartner Group, the number of Internet users in the Asia Pacific region is expected to increase by 72 percent this year to 72 million, according to a new study, and that could easily equate into an avalanche of Cybervisor(TM) sales,'' added Sanet.
The trading firm of Pt. Sario Jasa Raya has been operational since the early 1960's, under the then direction of Mr. Jan Ramli. The Company has maintained its present location at the Sario Building, Third Floor at Jl. Tanah Abang IV in Jakarta for at least 20 years. Presently, the President of Pt. Sario Jasa Raya, is Anita Ramli, oldest daughter of Mr. Jan Ramli, the latter now retired but serving as Chairman of the Company. Prior to taking her position as President of Pt. Sario Jasa Raya, Ms. Ramli was the President Director for Emery Worldwide Indonesia, and before that was President Director of Pt. Cakra Indo Artha, a trading company operating in Indonesia. Both Ms. Ramli and Pt. Sario Jasa Raya bring considerable expertise and extensive connections within and without the Republic Of Indonesia particularly as to the distribution of products. Ms. Ramli speaks English, Dutch, and Indonesian.
Sanet went on to say, ``Internet usage in the Republic of Indonesia as well as in the Far East, generally, is very high among children and young adults, primarily as it permits users to communicate over vast distances (Indonesia, an archipelago of 13,677 islands, having a span from one end to the other equal to that of the United States, and having a population of about 191 Million) at relatively low cost. Also, the Internet in the Republic Of Indonesia is the prime entertainment mode in the ROI for both children and young adults, as there is little to offer outside of the Internet venue. Our aim is to make VeeAreCity.com and The Cybervisor(TM) household words throughout Asia.''
Through selective acquisitions and partnering alliances, NorStar Group, Inc. (OTCBB:NSTG - news) 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, school, and business.
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. |
