(COMTEX) B: NEW DISCOVERIES REACHES AGREEMENT TO PURCHASE 50% OF A NE
B: NEW DISCOVERIES REACHES AGREEMENT TO PURCHASE 50% OF A NEW ZEALAND
Savings And Loan (Building Society)
SYDNEY, Australia, May 7 /PRNewswire/ -- New Discoveries Publishing
Corp. (OTC Bulletin Board: NWDP) CEO and Chairman Peter Michaels today
annnounced an agreement has been reached to purchase 50 per cent of
International Building and Investment Society (IBIS), a small but
longstanding financial institution in New Zealand.
"This acquisition will enable NWDP to open trust accounts for its
gaming customers as well as broadening NWDP's focus into the wider
e-commerce environment," Mr Michaels said.
"Our intention is to diversify our activities in order to deal in the
savings and investment loans market, both directly to the community and
to on-line customers. NWDP will bring its technology and software
expertise to IBIS. When combined with the Financial, business and
industry experience of IBIS, NWDP will be able to begin to Promote
e-commerce through on-line loans and on-line banking including credit
card processing of Visa, Mastercard, Amex and Diners Club," he said.
"One aim is to provide on-line services enabling people access to
banking and investment facilities in some of the South Pacific
off-shore and tax-free safe havens from anywhere in the world. We will
now be seeking to establish office representation for the Savings and
Loan (Building Society) in Australia and elsewhere in the South Pacific,
" he said.
In making the announcement Mr John Rutherford, President and Founder of
International Building and Investment Society, highlighted the
longstanding track record of the Society since its establishment in
1959.
"The Society has maintained a record of year-on-year profit since its
inception," said Rutherford.
"The arrival of the Internet has helped to develop a global world
economy. This is a very exciting concept to align a technology company
and a Savings and Loan (Building Society), to produce the ideal
organisation to enter the e-commerce industry," Mr Michaels said.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: The statement contained herein which are not
historical fact are forward-looking statements that are subject to
risks and uncertainties that could cause actual results to differ
materially from those expressed in the forward-looking statements,
including, but not limited to, certain delays in testing and evaluation
of products and other risks detailed from time to time.
SOURCE New Discoveries Publishing Corp.
-0- 05/07/99 /NOTE TO EDITORS: To obtain
photo of Peter Michaels and background information on New Discoveries,
visit aapimage.aap.com.au
Username: ASIANET
Password: ASIANET
Whatfield: NWDP/ /CONTACT: Media - Lauren Stewart of Professional
Public Relations, +612-9818-4044, or laurenstewart@ppr.com.au, for New
Discoveries Publishing/
/Web site: webcasinos.com (NWDP)
CO: New Discoveries Publishing Corp.; International Building and
Investment Society ST: Australia, New Zealand IN: FIN PUB SU: TNM
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