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Microcap & Penny Stocks : WORLD SPORTS MECHANDISING INC.- WSMI -- Ignore unavailable to you. Want to Upgrade?

To: harddog who wrote (65)	7/10/1999 10:59:00 PM
From: David Parkinson	Read Replies (1) \| Respond to of 84

WSMI.com Pre-Sells ''Auction Network'' Banner Ad Space to Sterling Media Fund I, for $5,000,000.00 US TORONTO, July 9 /CNW/ - World Sports & Music Inc. - WSMI.com (CDN:WSMI) announced today that it has entered into an agreement with Sterling Media Fund I, L.P. of Tulsa, Oklahoma, (Sterling). This agreement will see Sterling pre-purchase banner space and other net advertising on WSMI.com's On-Line Auction Network, in the amount of $5,000,000.00 US Dollars. Sterling Media Capital Fund I, L.P. is a media based investment fund that is capitalized with units of pre-paid broadcast and print media advertising time and space which in turn invests the media credits into various capital ventures. Fund I was formed in April of 1999 and is now in the process of acquiring Media Credits with a stated goal of One Billion ($1,000,000,000.00 US) of such media credits before the end of year 2000. WSMI.com has accepted Sterling's offer and is contracted to supply Sterling with media credits based on a value of six dollars ($6.00) US funds per one thousand (1,000) ''Hits'' for a total of 833,000,000 ''Hits''. This media will be derived from the WSMI.com On-Line Auction Network and other WSMI.com Internet properties, over a ten (10) year period. ''This pre-sale of on-line ad space is just what WSMI.com has been looking for to fully finance the company without diluting our shareholders''. Stated Christopher L. Bradshaw - CEO/Chairman - WSMI.com. ''The way this deal is structured, WSMI.com will receive upon signing, a $1.25 million US dollar ''Media Bond'', which is fully secured by the fund and will be used as collateral to secure working capital for the company. The asset balance will be used to qualify for the listing requirements of the NASDAQ small cap exchange.'' WSMI.com specializes in on-line marketing of sports and entertainment collectibles merchandise. WSMI.com licenses 'turn-key' on-line auction sites and e-tail stores to help traditional businesses establish an on-line presence through strategic alliances. WSMI.com is a charter member of the Internet Marketing Consortium and further information on the Company can be found at www.wsmi.com World Sports & Music Inc.-WSMI.com is a publicly traded company quoted on the Canadian Dealing Network (CDN) under the stock symbol CDN: WSMI. As of July 9th, 1999 there are 29,651,488 shares issued and outstanding in the company. -30- For further information: Paul Gorman, WSMI.com, (416) 366-9764, pgorman@vantagepointcapital.com