DALLAS, Oct. 19 /PRNewswire/ -- Key Capital Corporation
(OTC Bulletin Board: KCAP) announces the sale of TotalCorp, Inc., for $5
million to a software development group. This will allow Key Capital to now
focus on only e-commerce and their Internet-related products.
TotalCorp, the specialized computer network and communications subsidiary
of Key Capital, has been increasing monthly revenues to over $500,000 per
month. It has been agreed to merge TotalCorp with a software development group
of which Key Capital is expected to hold an approximate 30% interest.
Consideration to Key Capital is expected to be in listed shares valuing
TotalCorp at one times annualized revenue of $5 million. The transaction is
expected to close over the next 30 days and the company will provide further
particulars as they develop.
Key Capital's "KeyClub International" is an Internet provider of value and
discount goods, services and benefits to all KeyClub members. Details for
obtaining free membership can be obtained at the company web site,
www.kcap.net
KeyClub's alliance members include: AT&T, Kinko's, League of American
Investors, IBM, Dow Jones & Co., Hertz, Avis, MAACO, Microsoft, Compaq,
Hewlett-Packard, Toshiba, Radisson, Hyatt, ADP, A&B Sound and many more.
KeyClub's value site for members will commence operations later this month
when the all-new KeyClub web site will launch. This KeyClub e-commerce site
will be driven by providing the best available Internet e-commerce pricing on
numerous goods, services and benefits for all KeyClub members. With membership
targeted at over 5,000,000 by year-end 1999, KeyClub's purchasing and/or
negotiating power for member benefits will rapidly increase.
The information contained in this release, other than historical
information, may be considered forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Projections and
other forward-looking statements and management expectations regarding future
events and/or financial performance of the company -- although given in good
faith -- are inherently uncertain and actual events or results may differ
materially.
For complete investor relations and due diligence materials: Key Capital
Corporation, (888) 823-5767, Norrstarr Incorporated, (904) 760-9272.
All inquiries for media or investor relations placement, contact the
company's media and public relations consultants: DDW & Associates,
(714) 870-0847
Visit the Corporate Web Site: www.kcap.net.
SOURCE Key Capital Corporation
-0- 10/15/98
/CONTACT: Media or Investor Relations, DDW & Associates, 714-870-0847/
/Web site: kcap.net |
