Wednesday April 21, 8:25 pm Eastern Time
Company Press Release
Sloan Electronics Changes Name To SALIENT
CYBER.COM
SARASOTA, Fla.--(BUSINESS WIRE)--April 21, 1999--Sloan Electronics (OTC
BB:SLEL) will change its name to Salient Cyber.com. (www.salientcyber.com; website
under construction).
Their symbol will remain SLEL on the OTC Bulletin Board. Management feels the new name, expected to be approved at the
May shareholders' meeting, better reflects the Company's Internet and Technology growth strategy.
In March, Sloan Electronics agreed to acquire IEG Holdings, Inc. IEG controls Barrington University
(http://www.barrington.edu/). Founded in 1991, Barrington is one of the world's largest Internet distance learning universities
with over 1000 students in 21 countries and courses in six languages. IEG also controls Spanish University of America
(http://www.spanishuniversity.edu/), the world's only Spanish language distance learning university with courses in over 20
subjects offered in 26 countries. By third quarter 1999, Spanish University expects to offer courses worldwide via online
Internet classrooms using their innovative ''Gateway'' technology. Last year IEG earned approximately $600,000 on $3 million
in revenues through its Internet business. According to industry analysts, distance learning is expected to grow to $5 billion by
2004.
The Company also announced an undertaking to acquire RTI Global, Inc. (http://www.rti-rips.com/). RTI provides electronic
publishing solutions that improve the productivity of commercial printers and publishers. RTI generates over $1.75 million
annual revenues with substantial profits. ''RTI will assist the vertical integration of Sloan's electronics business and adds
management familiar with operating a successful electronics concern,'' said Larry Provost, Sloan's Chairman.
Commenting on the name change he said, ''We are positioned to grow through key acquisitions of Internet distance learning
and technology companies. Salient Cyber.com reflects our intention to capitalize these exciting growth opportunities. Closing
any of these transactions will substantially increase our revenues and profits.''
Forward-Looking Statements: This news release contains certain ''forward-looking'' statements within the meaning of the
Private Securities Litigation Reform Act 1995, which provides a new ''safe-harbor'' for these types of statements. To the
extent statements in this news release involve, without limitation, product development and introduction plans, the Company's
expectations for growth, estimates of future revenues, expenses, profits, cash flow, balance sheet items, sell-through or
backlog, forecasts of demand or market trends for the Company's product categories and for the industries in which the
Company operates, or any other guidance on future periods, these statements are forward-looking statements. The Company
assumes no obligation to update forward-looking statements.
Contact:
Sloan Investor Relations
Alon Kutai, 401/846-5212
itham@aol.com
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