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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: Joe Copia who wrote (9558)	6/25/1999 8:22:00 AM
From: Kirt F.	Read Replies (1) \| Respond to of 108040

GLXY News... Galaxy Enterprises Completes Acquisition of Impact Media /FROM PR NEWSWIRE LOS ANGELES 213-626-5500/ TO BUSINESS AND TECHNOLOGY EDITORS: Galaxy Enterprises Completes Acquisition of Impact Media OREM, Utah, June 25 /PRNewswire/ -- Galaxy Enterprises, Inc. (OTC Bulletin Board: GLXY), a leading e-commerce provider today announced it has completed its acquisition of the business of Impact Media LLC. The purchase contract was signed on June 24, 1999, with the closing date of June 25, 1999. The contract will be effective as of June 1, 1999. Through this transaction, Galaxy has purchased the assets and business interests of Impact as well as the assumption of certain liabilities. In addition Galaxy has issued 250,000 restricted shares of its common stock which has been placed in an escrow account. The actual number of shares to be distributed to Impact Media will be based upon the purchased business reaching certain performance levels. Brandon Lewis, Galaxy's Vice President of Marketing and Chief Operating Officer, said, "We were expressly interested in purchasing Impact because of its cutting edge technology in marketing tools, especially where the custom cut CD is concerned. "Our products are very complementary, and we should see a quick and straightforward integration between Galaxy and Impact with significant economies of scale as we provide new and expanded solutions to our combined base of customers." Impact President, Robert Green, said, "We are happy to finalize our agreement with Galaxy and we are anticipating the completion of several large contracts and purchase orders which we fully expect will enhance our market presence and bring additional revenue to our business. By joining together we feel Galaxy's position is strengthened as an Internet force and one stop shop." About Galaxy Galaxy Enterprises is an e-solutions provider, trainer and facilitator of Internet-based businesses. Galaxy also owns and operates Galaxy Mall (http://www.galaxymall.com), and the search engine MatchSite.com (http://www.matchsite.com). About Impact Media Impact Media (http://www.impact-media.net) produces multi-media brochures, and custom cut CDs, and is a provider of on-line marketing tools. Impact has been a reseller for Galaxy's Banner Source (http://www.bannersource.com), which provides banner advertising to the Internet community. Impact also markets Galaxy Center, under the name Impact Avenue (http://www.impactavenue.com), which is a software program that allows Internet users to create their own commercial Web sites and then publish the sites to the Internet. Certain of the above statements may be forward-looking statements that involve risks and uncertainties. In such statements, actual results could differ materially as a result of a variety of factors, including competitive developments and risk factors listed from time to time in the company's SEC reports. SOURCE Galaxy Enterprises, Inc. /CONTACT: Daren Baird, Director of Investor Relations of GalaxyEnterprises, Inc., 801-227-0004, daren@galaxymall.com/ /Web site: impact-media.net /Web site: bannersource.com /Web site: impactavenue.com /Web site: matchsite.com /Web site: galaxymall.com Jun-25-1999 05:46 GMT Symbols: US;GLXY Source PRN PR NewsWire Categories: NWR/UT NWI/MLM NWI/REA NWI/CPR NWS/TNM