Financial Communications Specialist Firm, Magnum Financial Group, Engaged By Galaxy Enterprises Inc.
Company Plans to Broaden its Investment Audience
OREM, Utah--(BUSINESS WIRE)--March 10, 1999--Galaxy Enterprises Inc. (OTC BB:GLXY - news), an established e-commerce provider, operator of the popular 1,900-storefront Galaxy Mall and MatchSite search engine, Wednesday announced its engagement of Los Angeles-based financial communications specialist, Magnum Financial Group, to broaden the company's audience within the investment community and financial media so as to generate interest and participation in the company's publicly traded securities.
In a concerted effort by management, its public relations firm, and now Magnum Financial Group, the company plans to broaden its prospective investment audience by stepping up communications with certain segments of the national media, trade publications and financial media to develop followers for its e-commerce, Web search technology and Internet training stories.
The primary focus of Magnum Financial Group is taking the company's investment opportunity directly to the retail brokerage and institutional communities with the objective of increasing investor awareness.
Simultaneously, Magnum will be communicating with research analysts who track the Internet and e-commerce sectors with the goal of encouraging their initiation of published research coverage on Galaxy Enterprises which will provide an independent analysis of the company's current and future market value. The analyst's research report is reviewed by brokers, institutional fund managers, and individual investors.
Magnum's communication programs are very financially oriented and designed to get the client's investment story to the specific audiences suited for the client's story. News releases, fact sheets, corporate profiles and presentations produced by the firm are structured to appeal to financial professionals at various sophistication levels. The firm's approach is structured, disciplined and proven.
Commenting on the engagement, John J. Poelman, president and chief executive officer of the company, remarked: "Since early 1996 we began aligning ourselves with several strategic partners and are looking to acquire key companies to position the company with a leading-edge for the booming e-commerce industry worldwide.
"We have now built a company that has demonstrated its ability to compete successfully on the Internet -- an example of this is the 10 million monthly hits on our flagship site Galaxy Mall. An equally important example is our continued revenue growth over the past three years. To capitalize on this early success and enable us to grow more rapidly by having greater access to capital, we became a publicly traded company in December 1996," added Poelman.
"Now very confident of our marketing abilities on and off the Internet, we will focus on the issue of marketing our public corporation. To that end, we have developed a multi-tiered plan to get our corporate story and investment opportunity out to the public.
"By engaging Magnum Financial, we have signaled the launch of this campaign. Magnum, a specialist firm, was hired to bring our stock price and resulting market capitalization in line with our current and forecasted financial performance as well as assisting in structuring the company for a listing on the Nasdaq Small Cap Market," Poelman continued.
Magnum Financial principal, Steven B. Johnson, offered, "We are very pleased to have been selected to represent Galaxy Enterprises and are certainly privileged to have the opportunity to work with management over the next several months. As we too are selective in whom we represent, we feel Galaxy Enterprises is a truly superb organization that knows the Internet and e-commerce space.
"Many experts would agree that most e-commerce companies marketing over the Internet today are not necessarily good marketers off the Internet. While the Web reaches millions today, there still remains substantially more prospects off the Web -- and this is where Galaxy excels over and above other e-commerce competitors. Management knows how to reach prospective customers on each side of the Internet," continued Johnson.
"Aside from being innovative and successful marketers, the company has very sound fundamentals and impressive financial performance. Based on historical financial results and the estimated 1998 results soon to be announced, we are of the opinion that the company's publicly traded stock is significantly undervalued at today's price levels," added Johnson.
"We believe that a more fair market value can be attained in the near term which better represents the past performance and future potential of the company," Johnson said.
About Magnum Financial Group
Los Angeles-based Magnum Financial Group LLC is a financial communications, corporate development and financial advisory firm representing public companies with smaller market capitalizations as well as those companies planning to become public. Magnum is well recognized for its knowledge of the capital markets, communications strategies and substantial contacts in the investment community.
About Galaxy Enterprises
Galaxy Enterprises is an e-solutions provider, trainer and facilitator of Internet-based businesses, an operator of electronic mall, an e-commerce Web site builder and a broad-based Web search engine. Galaxy Mall Inc. (http://www.galaxymall.com) a wholly owned subsidiary, is one of the fastest growing malls on the Internet
with approximately 1,900 storefronts and 10 million hits monthly.
Galaxy Center (http://www.galaxycenter.com), a Web-based Web site builder program, allows individuals and business owners to create and maintain their own fully functional e-commerce Web site. MatchSite (http://www.matchsite.com) is Galaxy's new revolutionary broad-based search engine that queries other major search engines simultaneously, which eliminates the need for multiple queries.
Banner Source (http://www.bannersource.com) is a clearing house for Web banner advertisements which currently has access to a network of more than 20,000 sites and markets in excess of 1 million dynamic impressions over the Internet daily.
This news release includes forward-looking statements, including statements regarding the potential purchase of Impact Media, and the revenues available to Galaxy resulting therefrom, and Galaxy's product development and marketing plans, which are subject to change. The actual results may differ materially from those described in any forward-looking statement. There can be no assurance that the proposed purchase of Impact Media will be consummated, and that any benefits
from the purchase will increase the revenues or profitability of Galaxy. Important factors that may cause actual results to differ are set forth in Galaxy's periodic filings with the U.S. Securities and Exchange Commission including its Form 10.
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