MARINA DEL REY, Calif.--(BUSINESS WIRE)--Jan. 27, 1999--Garrett K.
Krause, president and chief executive officer of Sara Hallitex Corp. (OTC
BB:SHAL), confirmed that the company's two most recent SIPODs (companies
spun out into the public market through the Sara Hallitex-IPO-Dividend-Spin-Out
Program), Tril-MediaNet Inc. and SolutionNet Inc., have already exceeded
management's conservative estimates for the number of companies to be spun out
by Sara this year.
In addition, dividends issued to qualifying Sara Hallitex shareholders will exceed
$16.2 million for these two SIPOD companies alone.
Through the SIPOD program qualifying Sara shareholders of record are issued
stock dividends in all the new SIPOD companies pursuant to the company's
announced cut-off date. (Tril-MediaNet's qualifying date was Jan. 8, which
includes all settlement dates up to Jan. 13.)
SolutionNet's dividend qualification is the close of trading on Friday, Jan. 29, and
individuals can still qualify for this bonus before the upcoming worldwide launch of
the company's ENET-Internet Banking product with Oracle Corp.
(Nasdaq:ORCL) and Sun Microsystems (Nasdaq:SUNW) -- SolutionNet's
Internet solutions software development partners.
Moreover, plans for the Sara Hallitex expansion have been moved up out of
necessity and Silicon Valley/San Jose, Calif. -- America's No. 1 venture-capital
location -- was chosen to be the hub of the company's Internet-related software
development SIPODs.
Anticipated trading dates for all three of the Sara Internet SIPODs, SolutionNet,
Tril-MediaNet and X-SELNET, Technology Group Inc., will be staged over the
next 60 days.
Additionally, an offering prospectus is currently being finalized to establish the
company's $10 million Internet Technology Venture Capital Fund aimed at
attracting other high-potential, Internet solutions/software innovators to the Sara
Hallitex "family."
Krause commented, "As Sara's three Internet companies begin trading publicly,
we feel confident that this will result in a definitive windfall of our shareholders'
stock value and the company's bottom line."
For more on Sara Hallitex, visit the company's Web site at
www.sarahallitex.com, or contact: Sara Hallitex Corp., 4344 Promenade Way,
Suite 102P, Marina del Rey, Calif. 90292; tel: 310/823-5008 (Investor Relations
Dept.); fax: 310/827-6255; e-mail: invrel@sarahallitex.com.
Statements in this release are made pursuant to the "Safe Harbor" provisions of
the Private Securities Litigation Reform Act of 1995. Investors are cautioned that
such forward-looking statements involve risk and uncertainties, including without
limitation, continued acceptance of the company's services, increased levels of
competition for the company and dependence on the performance of the
management of the company.
CONTACT: Sara Hallitex Corp., Marina del Rey
310/823-5008 (Investor Relations Dept.)
310/827-6255 (fax)
e-mail: invrel@sarahallitex.com
|
