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02/04 11:20 ERA West Enters Into Definitive Agreement to Acquire a North
American <ERAW.OB>
ERA West Enters Into Definitive Agreement to Acquire a North American Internet Service Provider
CLEARWATER, Fla.--(BUSINESS WIRE)--Feb. 4, 1999--Mr. Frank Speight, President and CEO of ERA West (OTC BB:ERAW), announced today that the company has entered into a definitive agreement to acquire City Online, Inc., a privately held, Columbia, SC based Internet Service Provider (ISP).
City Online makes Internet access available in over 1800 cities in the US and Canada, through reselling and rebranding its platform.
City Online provides ERAW with a new, Internet division. City Online is the exclusive ISP reseller for the National Computer Association (NCA). The NCA is the national association for independent computer Value Added Reseller (VAR) retailers, and currently represents a member base of over 4,000.
City Online has also signed an exclusive contract with CCISI of Dallas, TX. CCISI is a nationwide marketing company specializing in internet advertising and services. CCISI will market advertising on City Online's proprietary City Directory sites. City Online's directories offer an automated, comprehensive listing of retailers, restaurants, museums and the like in many US cities.
Mr. Frank Speight said, "The acquisition of City Online and the ongoing negotiations we are engaged in with e-commerce sites reinforces our desire to transform ERAW from a telecommunications holding company to an internet and e- commerce holding company. The new venue will offer increased growth potential for ERAW and our shareholders."
According to Mr. Jim Lord President of City Online, "We offer ERA West a unique, proprietary platform. We feel that with ERAW's resources, we can more quickly and effectively take the platform worldwide."
ERA West, through its wholly owned subsidiary Dynamic Bell, an Australian communications company, offers telecommunications services, telecommunications software, internet access, web publishing and web housing in Australia. ERA West, with its latest planned acquisition, will continue to expand in the Internet marketplace.
Safe Harbor Statement: Certain information included in this communication contains statements that are forward-looking, such as statements relating to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth and potential contracts. These forward statements are subject to a number of known and unknown risks and uncertainties that could cause actual operations or results to differ materially from those anticipated.
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CONTACT: Speight & Associates, Ocala, Fla.
IR Contact:
Tim Ellis, 352/690-1633
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