Printing 2.15 on 131,000 as of 1.13p...this just out...don't miss the 10% kicker here...I like it and it could become the basis for further deals:
(PR Wires) DJ: Sagamore and Sirco Announce Comprehensive Agreement on F
DJ: Sagamore and Sirco Announce Comprehensive Agreement on Financial Portal
Site Time2Trade.com
ROSLYN, N.Y./STAMFORD, Conn.--(BUSINESS WIRE)--May 19, 1999-- Sagamore
Trading Group, Inc. (OTCBB:MORE) and Sirco International Corp (NASDAQ:SIRC)
jointly announced today the signing of an agreement whereby Sirco's
subsidiary, WebQuill Internet Services, LLC., was selected to provide
development, management and wholesale nationwide Internet access services to
Sagamore for its dynamic financial portal web-site, Time2Trade.com. In
conjunction with the agreement, Sagamore has granted Sirco the option to
acquire 10% of its Time2Trade.Com, Inc. subsidiary for $1 million.
Jonathan Gottfried, Sagamore's CEO, stated, "WebQuill has agreed to provide
Sagamore a dedicated team of Internet professionals, which together have
financial portal experience at Reuters, Bloomberg and BondNet, a division of
The Bank of New York. This valuable resource, in conjunction with WebQuill's
ability to provide us wholesale nationwide Internet access, should
facilitate the rapid completion and launch of Time2Trade.com and the
associated ISP services we intend to provide our online clients."
Pedro Mata, WebQuill's Chief Designer, stated, "This will be an exciting
opportunity to work with Sagamore, which has been developing a Universal
Client for dynamic high-end financial data delivery. The financial
information services industry has historically relied on proprietary
interfaces running on high-end workstations to provide their services. With
Time2Trade, Sagamore intends to deliver those services through standard
industry browsers easily run on today's P.C.s."
Henry Azer, WebQuill's CEO, added, "We are pleased to have been selected by
Sagamore for this project. This agreement provides WebQuill multiple
opportunities to provide not only development, hosting, management and
Internet access services, but also to have the opportunity to participate in
the great potential value of Time2Trade.com."
Sagamore Trading Group, Inc. is a growth oriented company primarily focused
on providing on-line investment information services for individual
investors through it's wholly owned subsidiaries, Time2Trade.Com, Inc. and
Learn2Trade.Com, Inc. Sagamore Trading Group, Inc. has operations in both
Roslyn, New York and Dusseldorf, Germany. The Company's common stock is
traded domestically on the OTC-Bulletin Board and in Germany on the
Frankfurt, Berlin and Hamburg Stock Exchanges.
Sirco International Corp. is a diversified publicly traded company that
invests in, develops and incubates Internet and telecommunications-related
businesses. Sirco's portfolio of businesses include its wholly-owned
subsidiaries, Essex Communications, a New York based CLEC; WebQuill Internet
Services, a Connecticut based ISP and Airline Ventures, Inc., a Texas-based
E-Commerce Retailer; and its affiliates, Access One Communications, a
Florida-based CLEC and RiderPoint, Inc., an online marketer of insurance and
financial products.
This release contains forward-looking statements that involve risks and
uncertainties. The Company's actual results may differ materially from the
results discussed in the forward-looking statements. Factors that might
cause such a difference include, among others, availability of management;
availability, terms, and deployment of capital; the Company's ability to
successfully market its services to current and new customers, generate
customer demand for its product and services in the geographical areas in
which the Company can operate, access new markets, negotiate and maintain
suitable reseller and interconnection agreements with the incumbent local
exchange carriers, and negotiate and maintain suitable vendor relationships,
all in a timely manner, at reasonable cost and on satisfactory terms and
conditions, as well as regulatory, legislative and judicial developments
that could cause actual results to vary in such forward-looking statements.
CONTACT: Sagamore
Jonathan Gottfried, CEO
516/621-7714
usa@sagamoretrading.com
or
WebQuill
Henry Azer, CEO
203/750-1000
haz@webquill.com
12:49 EDT MAY 19, 1999
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