Thursday July 8, 10:08 am Eastern Time
Company Press Release
Viking Launches E-commerce Website Today Featuring Video Conferencing Technology
DALLAS--(BUSINESS WIRE)--July 8, 1999--Viking Systems, Inc., a wholly owned subsidiary of Viking Capital Group, Inc. (OTC:VGCP - news), will launch today its first e-commerce Website. The site - located at www.eoutletdirect.com - initially will offer a video conferencing enabled PC. Viking Systems' own private label PC, called VidNet PC, offers 2-way video communications over Internet and LAN connections.
VidNet PC's multimedia power comes from a special purpose processor that operates at 3.6 billion operations per second, thus taking the burden of video processing away from the main CPU. The technology is compliant with MPEG and streaming video/DVD standards. VidNet PC also enables the use of digital (IP) video on broadband standards such as ISDN, ADSL, satellite and cable modem technologies.
''VidNet PC presents a compelling, cost-effective video conferencing solution that does not require the expense of specialized, dedicated equipment or the recurring cost of high-bandwidth solutions,'' said Garry Millar, president of Viking Systems, Inc. ''And, as digital standards emerge and broadband availability pushes into lower price brackets, VidNet PC technology will take full advantage, giving users faster frame rates and higher resolution. It's a product that makes the transition from current bandwidth to future broadband without skipping a beat.''
About Viking Systems, Inc.
Viking Systems, Inc., is a wholly owned subsidiary of Viking Capital Group, Inc. (VGCP-OTC), headquartered in Dallas. Viking Systems, Inc. is responsible for all data processing and technology needs of its parent and sister companies and its external customers. VSI's focus is developing its private network (Viking Capital Financial Network) to provide all of its customers high quality video, voice, and data communications and to further serve those customers by providing, in cooperation with its sister companies, applications and additional products and services over the private network and the internet. These internet based products and services include Universal IP (insurance), IP Banker (remote banking), Benefits IP (employee benefit plan data processing), and IP Trader (securities trading) and IP Marketer (sales organizations). The Company's target market is financial services operations such as banks, insurance companies, and employee benefit plans.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995.
Certain statements made by the Company which are not historical facts may be considered forward-looking statements, including, without limitations, statements as to trends, management's beliefs, expectations and opinions, which are based on a number of assumptions concerning future conditions that may ultimately prove to be inaccurate. Such forward-looking statements are subject to risks and uncertainties and may be affected by various factors which may cause actual results to differ materially from those in the forward-looking statements. Among the factors that could cause actual results, performance or achievement to differ materially from those described or implied in the forward-looking statements are general economic conditions, competition, potential technology changes, changes in or the lack of anticipated changes in the regulatory environment in various countries, the ability to secure partnership or joint-venture relationships with other entities, the ability to raise additional capital to finance expansion, and the risks inherent in new product and service introductions and the entry into new geographic markets.
For further information which could cause actual results to differ from the Company's expectations, as well as other factors which could affect the Company's financial statements, please refer to the Company's report filed with the Securities and Exchange Commission.
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Contact:
Media: Ackermann Public Relations, Knoxville
Robert Cathey, 423/584-0550
rcathey@ackermannpr.com
or
Investors: Viking Capital Group, Inc., Dallas
Matthew W. Fossen, 972/386-9996
mfossen@vcgi.com
www.vcgi.com
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