To: Jay D. who wrote (12323 ) 7/21/1999 10:46:00 AM From: Jon Scott Respond to of 108040
Wednesday July 21, 7:00 am Eastern Time Company Press Release M&A West, Inc. Subsidiary Announces Spin-off to Shareholders SAN BRUNO, Calif.--(BUSINESS WIRE)--July 21, 1999--M&A West, Inc. (OTCBB:MAWI - news) announced today that a subsidiary company, Virtuallender.com, Inc. (OTCBB:VLDC - news) will be spinning off its Homesmart.com branch to its shareholders as a separate public company. The distribution will be one share of Homesmart.com for each Virtuallender.com share owned. The company anticipates Homesmart.com to commence trading within the next couple of weeks. The ''dividend'' date is July 23 for shareholders of record. Virtuallender.com, Inc. will retain one million shares of Homesmart.com. Scott Kelly, President and CEO of M&A West, Inc., commented, ''This spin-off is a fantastic win-win situation for everyone concerned. Virtuallender.com has grown rapidly since our initial investment and we look forward to continued growth.'' M&A West, Inc. owns approximately six million restricted common shares of Virtuallender.com, Inc. M&A West, Inc. develops, invests in, and operates Internet and technology related companies, in a similar business model to CMGI. M&A West, Inc.'s strategy includes the internal development and operation of majority owned subsidiaries within the ''M&A West family,'' as well as the investment in other Internet companies, either directly by M&A West, Inc. or through other venture capital arrangements. The company's strategy also envisions and promotes opportunities for synergistic business relationships among the Internet companies within its portfolio. M&A West, Inc. has capitalized and hopes to continue to capitalize on its position as a Seed Round Internet Startup investor. In addition to VLDC, the company's current investments include E-Business and web design firm Digital Bridge, Inc., Linux developer and distributor OpenExpress.com, Inc. and Workfire.com, Inc. (OTCBB: WKFR - news). For more information on M&A West, Inc. please visit www.mawest.com. For more information on Virtuallender.com, Inc. visit www.virtuallender.com. Statements regarding financial matters 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 Securities Litigation Reform Act of 1995. The company intends that such statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. -------------------------------------------------------------------------------- Contact: M&A West, Inc. Scott Kelly, 650/588-2678 www.mawest.com