VNE SIGNS MAJOR PARTNERSHIP WITH EUROPEAN CONGLOMERATE
Good afternoon to you all. If you are using the Internet right now, you are no doubt familiar with e-commerce. A great many of you have used it and those remaining will be using it anytime in the next few months.
As you all know, Valu-net has been a part of the AGORA portfolio for some time now. Despite the tough times which have fallen upon the small-cap sector over the last 12 months, Valu-net (VNE.ASE) has continued to forge a path in the E-commerce industry. As recently as three months ago, VNE was called "most promising Canadian
E-commerce Company" in a Globe & Mail front-page industry review.
Today, we are pleased to announce that Valu-net has signed what President David Lucatch calls "the most significant and lucrative contract we have signed to date and it will enhance our overall global marketing strategy". Specifically, VNE has secured a major European partner for the sale and marketing of E-commerce and other related technologies developed by Valu-net.
Though the following press release is very concise, we would like to point out the following highlights:
1] The BK Group (new European partner) is part of a large international conglomerate founded by the Karic family in 1763. The Group's activities are centered mainly in Europe and consists of extensive interests in Banking, Insurance, International Trade, Telecommunications, Television and other news media, Internet Service Provision and other related services.
2] Revenues will be shared on a 50/50 basis
3] Given the anticipated market growth and BK Group's extensive connections in Europe, we expect this alliance to generate substantial revenues for Valu-net in the near term, as well as in the foreseeable future. This is the most significant and lucrative contract we have signed to date and it will enhance our overall global marketing strategy".
We hope to provide investors with further details regarding this deal, as soon as we have had a chance to speak with Valu-net management. In the meantime, we are very pleased with the advances made by VNE, including their great success with their Web This Week program, which can be found at www.webthisweek.com
If you have any questions or comments, please do not hesitate to contact the company or ourselves.
Have a great day.
Regards,
Agora Internet Relations Corp.
VALU-NET SECURES MAJOR PARTNER FOR EUROPEAN VENTURE
October 14, 1998
Markham, Ont., -- October 14, 1998 - Valu-net International Ltd., a division of Valu-net Corporation (ASE:VNE) today announced the signing of an agreement with the BK Group, based in London, England, for the sales and marketing, in Europe, of Internet Electronic Commerce and other related technologies, developed by Valu-net. Initially, this agreement will cover the production and marketing of on-line business directories and the establishment of E-Commerce authorization and settlement platforms for businesses serving holders of credit cards issued by BK Group's banking affiliates in Europe.
The BK Group is part of a large international conglomerate founded by the Karic family in 1763. The Group's activities are centred mainly in Europe and consists of extensive interests in Banking, Insurance, International Trade, Telecommunications, Television and other news media, Internet Service Provision and other related services.
"Exploring new marketing opportunities, in conjunction with Valu-net, fits perfectly within BK Group's growth strategy for developing integrated financial and telecommunications services", said Predrag Nikolic, Director of Information Technologies for the BK Group. "Commercializing Information Technologies, with the
help of Valu-net and offering these services across Europe, enhance our leadership position in this emerging area. In many parts of Europe this will be the first real appearance of E-Commerce and on-line business support".
Mr. David Lucatch, President and CEO of Valu-net Corporation, stated; "The agreement calls for Valu-net to supply the software, the necessary technology and the maintenance and hosting of the on-line system; while the BK Group will cover all sales, marketing and administrative expenses and will oversee the venture from its London headquarters. Revenues will be shared on a 50/50 basis.
According to Jupiter Communications - a leading new technology research organization - on- line shopping in Europe is expected to increase exponentially by 2002, thereby considerably narrowing the gap with the US. Given the anticipated market growth and BK Group's extensive connections in Europe, we expect this alliance to generate substantial revenues for Valu-net in the near term, as well as in the foreseeable future. This is the most significant and lucrative contract we have signed to date and it will enhance our overall global marketing strategy".
Valu-net Corporation, a publicly traded corporation on the Alberta Stock Exchange, (symbol "VNE") is a leading marketing and technology company providing a complete range of services designed to meet the growing demand for Internet marketing and electronic commerce. Valu-net's Enhanced Service Program provides businesses with integrated Internet marketing programs, electronic commerce and transactions technologies in order to advance their business and marketing goals. At the same time, ESP's Web-This-Week serves as a gateway through which consumers can interact with such businesses.
For Valu-net Investor Relations, please contact Gary Perkins:
Tel: (905) 479-2800 or 1-800-225-2744
Fax: (905) 479-8608
For further information, please contact:
David Lucatch, President & CEO, Valu-net Corporation
Phone (905) 474 - 5100
Toll Free 1-800-558-9069
Fax: (905) 474 - 9843
E-Mail - dlucatch@valuenetwork.com
DISCLOSURE STATEMENT
AGORA INTERNET RELATIONS CORP. receives a monthly monetary fee from Valu-net Corporation. for the purposes of communicating with Internet shareholders - both current and prospective - to increase awareness of and interest in Valu-net Corporation. AGORA INTERNET RELATIONS CORP activities are aimed purely at keeping their clients' shareholders and prospective shareholders informed about their company. These activities consist of providing investors with previously disclosed factual information concerning the company, comments from company principals, copies of material that has been filed with regulatory authorities, comments prepared by registered brokers or investment dealers and material published in newspapers, magazines or journals.
AGORA INTERNET RELATIONS CORP does not participate in the maintenance of an orderly market in their client's securities, nor is required, or receives an incentive for, the maintenance or achievement of a price or trading volume for their client's securities at a certain level, for a specified period of time or by a certain date. AGORA INTERNET RELATIONS CORP. may, at any time, own shares in the company.
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