IJNT INTERNATIONAL'S MRHM SUBSIDIARY NOW A MAJOR
WEST COAST E-COMMERCE WEBSITE DEVELOPER
-- Contracts Under Discussion Could Yield Several Million in Calendar 1999 Revenues--
Houston, TX - February 24, 1999: IJNT International (OTC BB: IJNT), a leading wireless and high-speed Internet access provider, today announced that its Man Rabbit House Multimedia, Inc. (MRHM) subsidiary is now considered one of the major West Coast e-commerce website developers as a result of significant new client projects.
The Company reported that MRHM's revenue growth in calendar 1998, during which quarterly revenues increased from $33,000 to $166,000, is expected to significantly accelerate this year due to larger clients which require more comprehensive sites.
“After posting an impressive 90% quarterly revenue growth rate last year, Man Rabbit House Multimedia is projected to achieve projected bookings of $500,000 for the calendar quarter ended this March with $750,000 in revenues forecast for the second calendar quarter in 1999,” commented Greg Matsen, MRHM manager.
“Driven by a significant expansion in the size of our customers and their website development projects,” Matsen added, “MRHM is on track to report a million dollar month by the end of 1999, demonstrating our outstanding growth capabilities and expanding presence in the dynamic e-commerce industry.”
Since IJNT acquired MRHM in July 1998, when the website development firm had monthly revenues of approximately $12,000, Matsen explained that the Company added the necessary equipment and personnel to develop the subsidiary into a world leader in e-commerce and website development.
To manage the subsidiary's tremendous growth rate while broadening its range of services to meet customers' expanding needs, MRHM recently hired approximately 20 employees with expertise in website development, back office support, and customer service. The Company reported that MRHM intends to retain approximately 10 additional personnel by the middle of calendar 1999 to fill high-level administrative functions in advertising, sales, and project management.
Commenting on the expansion, MRHM founder and creative director, Robert Santore, said, “Our list of quality clients continues to grow exponentially. Most important, however, is our proven ability to expand with our customers by providing them the highest possible service and creativity.”
New MRHM clients within the past six months include Hot Rod Café and Sportsnuts.com. Santore also mentioned that the subsidiary is in discussions with several new clients regarding site development contracts which could generate several million dollars for MRHM during calendar 1999.
MRHM noted that the popular website it created and manages for Trek Bikes receives approximately 3 million hits per week, second only to Nike, Inc. (NYSE: NKE) among sports related Internet sites.
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MRHM, the website service subsidiary of IJNT, provides website design, hosting, network applications, and consulting for homes and businesses. The subsidiary develops and manages e-commerce websites which encompass customer billing, site management, and other facets of a virtual business. MRHM services prestigious international e-commerce clients such as Spalding, Trek Bikes, Allsop, Elan Skis, W.L Gore & Associates, Inc., Fila USA (a subsidiary of Fila Holdings SpA – NYSE: FLH), and Titleist (a division of Fortune Brands, Inc. – NYSE: FO).
IJNT International provides high-speed, wireless Internet access and telephony services to homes and businesses without the use of phone lines. The Company's subscriber base is rapidly growing as the service expands nationwide. IJNT also provides website development and e-commerce services as well as dial-up Internet access throughout the U.S. and internationally. The Company's rapid growth is the result of aggressive marketing and sales, internal development, acquisitions, and strategic alliances.
This press release may contain forward-looking statements 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 risks and uncertainties, including, without limitation, continued acceptance of the Company's products, subscriber growth, product demand, competition, and other risks and uncertainties detailed from time to time in the Company's periodic reports, including Quarterly Reports on Form 10-Q and Annual Reports on 10-K. This and additional information can be found on the Company's website at www.ijnt.net or can be obtained from the Company upon request.
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