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Microcap & Penny Stocks : Viking Capital Group, VGCP- Internet play on the move! -- Ignore unavailable to you. Want to Upgrade?

To: CIMA who wrote (554)	7/29/1999 9:59:00 AM
From: topstock	Read Replies (1) \| Respond to of 588

PRESS RELEASE Thursday July 29, 9:15 am Eastern Time Company Press Release Viking Capital Group, Inc. Adds Baumann to Mergers and Acquisition Team DALLAS--(BUSINESS WIRE)--July 29, 1999--Viking Capital Group, Inc., (OTC BB:VGCP) has named Timothy S. Baumann vice president - mergers and acquisitions. Baumann's primary responsibilities include serving the company in strategic and financial planning as part of the mergers and acquisitions team and will include procuring the Company's acquisition and working capital. ''Tim is a welcome new member and contributes additional strength to our team as we focus on our planned strategic acquisitions of insurance companies and deploying our Internet-based services to banks, insurance companies, HR/employee benefit plans and large marketing organizaitons,'' said Matthew W. Fossen, CFO of Viking Capital Group. Baumann has served as CFO with SA Telecommunications, Inc., a publicly traded, regional inter-exchange telecommunications carrier, and Riley Drilling Company, a Texas top-ten oil and gas drilling service company. Also, Baumann has served in the capacity of vice president of finance and treasurer with American Cellular Services, U.S., a wireless telecommunications company he founded and subsequently sold to Contel Cellular. (Contel Cellular is a subsidiary of GTE.) Prior to Contel, Baumann served as a senior consultant with Ernst & Young. Baumann's experience includes securing equity and debt financing for his own companies and others and negotiating with city and state agencies for government funds. He holds a B.S. in Business Administration from Central Michigan University. About Viking Capital Group, Inc. Viking Capital Group, Inc., head office in Dallas, is creating a group of streamlined companies to provide specialized administration services, using proprietary technology to reduce costs and improve quality of service to insurance companies, banks and other financial institutions. Simultaneously, the Company plans to purchase and manage its own portfolio of insurance Company assets. The Company's strategic goal is to acquire $1.5 billion in insurance managed assets through the purchase of existing life insurance companies. Viking is a fully reporting SEC Company and is traded on the OTC BB market under the symbol VGCP. Contact Viking on the World Wide Web. vcgi.com. 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. Contact: Viking Capital Group Inc., Dallas Robert Cathey, 423/584-0550 (Media Contact) rcathey@ackermannpr.com or Matthew W. Fossen, 972/386-9996 (Investor Contact) mfossen@vcgi.com Regards, TOPSTOCK