Maxnet, Inc.
Phone: 215-947-7666
Fax: 215-947-7440
Email: maxnet@juno.com
Contact: Steven Fishman
Maxnet, Inc.
2910 Franks Road, Unit 1
Huntingdon Valley, PA 19006
ú For Immediate Release
Press Release
Maxnet, Inc. Announces Acquisition and New Symbol
Huntingdon Valley, PA - July 30, 1997: Concord International Group,
Inc. has acquired the remaining 95% of Maxnet, Inc. for $10 million in
stock. The company has changed its name to Maxnet, and is pleased to
announce that effective July 21, its new symbol on the NASD-BB is
"MXNT". The company has appointed a new board of directors, and reverse
split the stock 50 for 1. Concord acquired 5 percent of Maxnet last
year.
Maxnet currently has two subsidiaries: S.E.G. Technologies, Inc. and
Savemart.com, Inc.
S.E.G. Technologies is a worldwide wholesaler and distributor of
high-end computer peripherals and custom-configured AKULA computer
systems. The company provides complete technical services covering all
aspects of computer technology, including: on-site and walk-in service
and repair, networking needs analysis, planning and implementation, and
training services for all major software programs. S.E.G. Technologies
offers a full one-stop shopping solution for home and business computer
needs, and has quickly secured a strong position in the competitive
international market as the premier computer solutions provider. Their
web site can be found at segtech.com.
Savemart.com is the worldwide leader in Internet sales, promotions and
technologies. It has introduced a complete selling solution, the
Internet Merchant Platform, which will serve as an effective guide for
businesses that want to begin selling products and services on the World
Wide Web. A1-TeraBit.Net, a subsidiary of Savemart.com, is a full
service Internet provider and serves premium quality, ultra high-speed
networking communications services to customers in New York City and its
surrounding boroughs. The company has just announced Digital Subscriber
Line (DSL) commercial service, which will compete with NYNEX, to enhance
the existing copper telephone infrastructure by providing simultaneous
high-speed data access and regular voice telephone service. With its
low start-up cost, DSL is ideal for multimedia and data communications,
remote access to corporate LANs, and Internet and desktop
video-conferencing. TeraBit.Net is on the World Wide Web at
terabit.net.
The combination of services provided by Maxnet's subsidiaries forms a
complete solution package for home and commercial technology needs.
For more information, please contact Lisa Vlahakis at maxnet@juno.com or
by phone at (215) 947-7666. |
