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Technology Stocks : Applied Cellular Technology (ACTC) -- Ignore unavailable to you. Want to Upgrade?

To: money@work who wrote (1056)	6/10/1999 1:14:00 PM
From: money@work	Respond to of 1062

MORE GOOD NEWS AGAIN! Here it is: Intellesale.com Announces Acquisition of Internet-Based Bostek, Inc. PALM BEACH, Fla.--(BUSINESS WIRE)--June 10, 1999--Intellesale.com, a subsidiary of Applied Cellular Technology, Inc. (NASDAQ/NMS:ACTC), today announced that it has signed an agreement to acquire Bostek, Inc., a major Internet-based wholesale and retail distributor of name brand computer equipment. Bostek, which was founded in 1983, markets and distributes its products directly to its retail and business customers through its Internet site, pickadw.com. Bostek generated approximately $60.0 million in revenue and approximately $4.0 million in adjusted EBITDA for 1998. Intellesale will pay approximately $30.0 million for Bostek. The founders, who will remain as executive officers of Bostek, have an earn-out incentive agreement based on meeting previously determined performance goals. This acquisition, which is subject to regulatory approval, is expected to close in July of this year. Marc Sherman, President of Intellesale.com, stated, "The acquisition of Bostek significantly expands the breadth of products we can offer our customers. Bostek buys computer equipment in large quantities directly from major manufacturers, including Compaq Computer, NEC, Sony, Fujitsu and Digital and can offer these items at a discount to the general public. The company has long-standing established relationships with these suppliers and its management team is widely respected in the industry. We are in the process of integrating Bostek's website into our Internet computer superstore thereby providing all of our customers with a one-stop shopping site for new and refurbished computer equipment and supplies." David Romano, President of Bostek, stated, "The combination of Bostek and Intellesale.com will create a powerful competitor in the growing landscape of Internet-based computer equipment suppliers. We believe that going forward, this industry will begin to consolidate as consumers seek out those companies that provide them with the largest selection of new and refurbished computer equipment and supplies at the best prices." Intellesale.com is an Internet retailer of new and refurbished computer products through its website intellesale.com. and is a leading provider of comprehensive, integrated technology based solutions. Intellesale.com also provides re-marketing, parts-on-demand, leasing and consulting services for mainframe, midrange and PC systems to industrial, commercial and retail organizations. Applied Cellular Technology is a full service communications company that provides integrated products and services to a wide variety of businesses throughout North America. The Company is comprised of five business divisions which work together to meet the growing communication needs of its clients. For more information visit the Company's web site at appliedcell.com. Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. The Company intends that such forward-looking statements involve risks and uncertainties and are subject to change at any time, and the Company's actual results could differ materially from expected results. CONTACT: Applied Cellular Technology, Palm Beach Tabitha Zane, Investor Relations, 336/288-1024 KEYWORD: FLORIDA NORTH CAROLINA BW0203 JUN 10,1999 9:56 PACIFIC 12:56 EASTERN