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Microcap & Penny Stocks : WCOLLECT (WCLT) -- Ignore unavailable to you. Want to Upgrade?

To: J.R.S. who wrote (182)	6/22/1999 3:30:00 PM
From: janean m	Respond to of 196

Tuesday June 22, 9:05 am Eastern Time Company Press Release WCollect Becoming E-Commerce Force BEVERLY HILLS, Calif.--(BUSINESS WIRE)--June 22, 1999-- WCollect.com (OTC BB:WCLT) WCollect is establishing itself as the leading online provider in the e-commerce sector. ''The company itself has made huge strides in a very short period of time,'' said D. Bruce Robb formerly of Midland Walwyn now of Merrill Lynch. ''When one considers the company has been in existence for little more than 4 months and has closed marketing and business agreements with companies and organizations such as King World, Just Systems, and an institution the size and breadth of The National Academy of Recording Arts & Sciences (NARAS), Inc., is just overwhelming,'' he said. WCollect has had one takeover offer, which the company turned down. ''Given the growing number of joint ventures and other business opportunities that continue to come to the company, we (the board of directors) didn't think that the offer was in line with the growth we are experiencing,'' said Stewart Irvine President and CEO. ''We have no doubt that other offers will arrive as we continue to grow our data base from a customer list of mid to high end consumers. In some circles we are referred to as the Robb Report of the Auction and Gallery Sites, however the impressive aspect of our business strategy is the high margin revenue model.'' Similar to EBAY (Nasdaq:EBAY - news) in the fact that the company carries no inventory, and like Amazon (Nasdaq:AMZN - news) where there are also fixed price items with substantially higher margins and a strong business to consumer sales focus. The WCollect business model is proven and what is unique is that they have taken the best of two worlds and combined them with a Guarantee of authenticity. WCollect which deals exclusively in the online sale of fine art, entertainment collectibles and sports memorabilia went public in mid February 1999, and has made other considerable inroads into the growing Internet-based auction and E-commerce business, including: generating an average of 50% revenue from sales via its Gallery Shop where consumers can purchase authenticated items at a fixed cost at lower than retail prices. building a secure Web site of significant proportions that offers direct access to the $50 billion annual market of collectibles through strategic partnerships in the fields of fine art, authenticated celebrity and sports memorabilia. prominent cross-promotion on internationally syndicated television programs, including King World's ''The Roseanne Show'' and the 1999 Grammy Awards. establishing The World Collectors Guild, a non-profit organization designed as an online community where the millions of collectors will exchange ideas and can add authenticated rare and one of a kind items to their collections. WCollect.com, is now less than 30 days from introduction of the carrier class site which will merchandise the initial 20% of the current one million items in its virtual directory. Wcollect.com has positioned itself to become the world's largest most trusted art and collectibles Gallery and Auction Company. This will position WCollect to be on par with Ebay for value of content online and Amazon.com for the number of items offered online. Wcollect is publicly traded under the symbol WCLT (OTC BB). Included in this release are ''forward-looking statements'' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations reflected in such forward-looking statements will prove to have been correct. The company's actual results could differ materially from those anticipated in the forward-looking statements as a result of certain factors including sales levels, distribution and competition trends and other market factors. (c) 1999 WCollect.com Inc.. All brand names and trademarks are the properties of their respective holders. Contact: WCollect.com Inc. Arne Carlson, 877/608-1611 acarlson@direct.ca More Quotes and News: W Collect Com Inc (OTC BB:WCLT - news) Related News Categories: computers, internet, retail