e-commerce for agribusiness
Friday January 29, 12:01 am Eastern Time
Company Press Release
SOURCE: VirtualFund.com, Inc.
VirtualFund.com, Inc. Subsidiary
RSPnet.com Signs Long-Term Contract
with RAPID, Inc. to Develop Internet Product Directory for
Agricultural Industry
MINNEAPOLIS, Jan. 29 /PRNewswire/ -- VirtualFund.com, Inc. (Nasdaq: VFND - news), a diversified
technology company, today announced that RSPnet.com, Inc. (RSPN), the principal operating subsidiary of its
Internet/Software Business Unit (ISBU), has reached an agreement with RAPID, Inc., a non-profit organization
dedicated to fostering the use of electronic commerce throughout agribusiness, to develop a national
business-to-business e-commerce Product Directory for the agricultural industry. The three-year contract includes
custom development, hosting, software tools and service and enables the integration of RSPN's E-Com Tools
electronic commerce software.
The Product Directory is a critical database for providing the base product data required to ensure accuracy and
integrity in all e-commerce transactions for the agricultural industry. Base data includes the unique brand and
product identification, warehousing information, and brand ownership information. The database will also
provide the ability for manufacturers to make product data available almost instantaneously to the national
agricultural product distribution channel. The site, which is currently under development, is expected to be
operational in April.
''The Product Directory is one of RAPID's key directories and databases that will enable electronic commerce
across agribusiness,'' said Ron Farrell, RAPID, Inc.'s Executive Director.
RAPID was formed by over 40 leading agricultural companies to allow the agricultural community to take
advantage of the new developments in electronic communications. RAPID actively assists North American
agri-business realize the economic and stewardship benefits of electronic commerce. RAPID develops and
promotes commonly supported standards, processes, databases and electronic connectivity. A list of member
companies may be found on the Internet at powerag.com
''RSPN/TEAM was selected more than a year ago to develop the original informational web site. The Product
Directory, which will be a business-to- business extranet available to members only, is a natural evolution for
RSPN and will allow RAPID to lead agribusiness in e-commerce and open standards,'' said Mark Stewart,
RSPnet.com's Vice President of Product Development.
For more information about RAPID, Inc. visit their marketing web site at powerag.com
About RSPnet.com, Inc.
RSPN, a VirtualFund.com enterprise, represents a national network of regional service providers and channel
partners dedicated to providing Net-Centric Hosting, Tools and Services(SM) for complete Internet solutions.
Since 1955, RSPN/TEAM has been providing system integration services to over 250 customers under long-term
contracts, including numerous Fortune 500 companies, across the United States. RSPN has reseller relationships
with over 40 well-known hardware/software suppliers and has a staff that is well-versed in technologies such as
TCP/IP, UNIX and NT operating systems to enable them to bring the right technology to each situation.
For more information about RSPN, visit their web sites at rspnet.com , rspnet.net or
team.com
VirtualFund.com, Inc. -- At A Glance
Founded: Diversified technology company founded in 1985 with multiple
wholly-owned subsidiaries, including continuous operations
since 1895
Employees: 460
Facilities: 398,000 square feet worldwide
Investor information web site: virtualfund.com
Internet/Software Business Unit
Brands Products & Services Marketing web site
RSPnet.com(TM) Systems Integration Network
of Regional Service Providers
for Net-Centric Hosting,
Tools & Services rspnet.com
rspnet.net
teamnet.net
E-Com Tools(TM) Electronic Commerce
Software e-comtools.com
Embedded Data(TM) Developed Software for
Targeted Solutions edscorp.com
Digital Graphics Business Unit
Brands Products Marketing web site
ColorSpan® Wide-Format Color Inkjet
Printers and Supplies colorspan.com
Supplies.By.Air(TM) Supplies for Wide-Format
Inkjet, Electrostatic,
& Desktop Inkjet
Printers using E-Com
Tools software suppliesbyair.com
Kilborn Photo
Products(TM) Mill Roll Media
Production for
OEM (private-label) kilborn-photo.com
LaserMaster® Plain-Paper Typesetters,
Chemical-Free
FilmSetters lasermaster.com
VirtualFund.com, Inc. desires to take advantage of the new ''safe harbor'' provisions contained in the Private
Securities Litigation Reform Act of 1995 (the ''Act''). Contained in this press release are statements, which are
intended as ''forward-looking statements'' within the meaning of the Act. The words or phrases ''promises'',
''expects'', ''will continue'', ''should'', ''is anticipated'', ''management believes'', ''estimate'', ''projects'',
''hope'' or expressions of a similar nature denote forward-looking statements. Those statements are subject to
certain risks and uncertainties that could cause actual results to differ materially from historical results or from
those results presently anticipated or projected. The Company wishes to caution readers not to place undue
reliance on forward-looking statements. Readers should also be advised that the factors listed below have affected
the Company's performance in the past and could affect future performance. Those factors include, but are not
limited to, the risk that a product may not ship when expected or may contain technical difficulties; demand for
new or existing products; the impact of competitor's advertising, products or pricing; availability of component
parts, including sole source parts; manufacturing limitations; availability of sources of financing; economic
developments both domestically and internationally; and the Company's accounting practices. Supplemental
Marketing information is accessible at Web sites operated for the benefit of trade customers of companies owned
and operated by the Company. The information available on these Marketing web sites is not intended for
investor use and should not be considered a part of the public disclosures to the financial performance of the
Company.
SOURCE: VirtualFund.com, Inc. |
