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NorStar Unveils VeeAreCity.com Cover Page
Business Editors
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--July 23, 1999--NorStar
Group, Inc., (OTC BB:NSTG) announced today that it has unveiled its
VeeAreCity.com cover page for public exhibition. "The artists have
captured the look and feel for what is to come," said Jay Sanet,
NorStar's Director of Corporate Development. Sanet went on to say,
"The cover and home pages (www.veearecity.com) now set the stage for
what will soon become one of the hottest sites on the Internet. We are
designing VeeAreCity.com to offer many of the same advantages of
Yahoo, The Globe, AOL, CompuServe, etc., with one big difference. We
are also adding virtual reality chat and game rooms to our innovative
and cutting edge domain. Many of our products and services can be used
with NorStar's lightweight, comfortable, and affordable proprietary
virtual reality headgear, The Cybervisor(TM), which is intended for
home, business and school use."
NorStar recommends that all Netscape users download Netscape 4.6
before viewing the site. Additionally, some previous viewers may need
to clear their computer's memory and disk caches before logging on to
the site. If you are unsure of the procedure please contact your
Internet Service Provider for instructions.
NorStar's initial target is the millions of teenagers surfing the
Internet as well as their 'Baby Boomer' parents, and their
grandparents. According to industry studies, this market known as
'Kiddie Power' is expected to grow to 90 million users by the year
2000. Already an estimated two-thirds of all individuals under the age
of 21 years who are still getting their education consider themselves
regular Internet users. "Entertainment is one of the top four Internet
categories and we intend to become the industry leader. Our virtual
reality game and chat rooms will be state of the art and user
friendly," added Sanet.
In addition, an estimated 40% of Internet users here in the
United States are now women. For both men and women of all ages,
sampling products and purchasing them directly over the Internet has
been a growing trend, which some analysts believe could represent as
much as 40% of all transactions in the future. The electronic or
e-commerce market was reported to be $17 billion in 1998 and is
expected to grow to over $800 billion by 2002. To meet this growing
demand, NorStar has budgeted funding for the VeeAreCity.com Internet
mall. "Our mall will be spectacular," said Jerry Saver, NorStar's VP
of Interactive Media Sales. "Our mall will be virtual reality enabled.
Imagine yourselves shopping in a totally 3-D cyberspace environment.
Online shopping has never been such a pleasure," added Saver.
By posting the cover and home pages of VeeAreCity.com now,
NorStar wants to stimulate provider interest in its 'One-Stop'
concept. By introducing providers to NorStar's promotional,
e-commerce, and marketing services, NorStar anticipates that potential
advertisers will quickly recognize the possibilities of the new
sources of market opportunity that VeeAreCity.com is being designed to
offer.
In a recent CBS Evening News broadcast, the network reported that
$1.8 billion was spent last year on Internet advertising.
VeeAreCity.com will offer its major advertisers a new and exciting
medium through virtual reality enabled advertising rooms. "The future
is here," said Jerry Saver. "Our virtual reality priority advertising
rooms will usher in a new dimension in Internet advertising. Imagine
what we can do for an automobile manufacturer? In one part of the room
you are viewing 3-D automotive memorabilia, in another part of the
room you are viewing 3-D sales material. But in the 3-D demo portion
of the room, with just a click of your controller puck, you'll be
driving your dream car down the highway. By our third operating year
we could see as much as $50 million per year in income revenue from
this source alone," added Saver.
Through selective acquisitions and partnering alliances, NorStar
Group, Inc. (OTC BB:NSTG) is positioning itself to be a leading
provider of interactive, virtual reality, entertainment, educational,
and business products and services. NorStar is also the co-developer
of a proprietary lightweight, comfortable and affordable virtual
reality headgear, The Cybervisor(TM), which is intended for home,
business and school use.
Safe Harbor: Certain statements contained in this press release,
including but not limited to information regarding the future economic
performance and financial condition of the Company, the plans and
objectives of the Company's management and the Company's assumptions
regarding such performance and plans, are forward-looking in nature.
Many factors and conditions could cause actual results to differ from
the forward-looking information contained in this release.
--30--gaa/mi*
CONTACT: NorStar Group, Inc., Fort Lauderdale
Jay Sanet, Director of Corporate Development,
954/772-0240, Fax 954/492-0155
Email: NSTG@ Bellsouth.net
KEYWORD: FLORIDA
INDUSTRY KEYWORD: COMED COMPUTERS/ELECTRONICS
INTERACTIVE/MULTIMEDIA/INTERNET
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Jul-23-1999 12:05 GMT
Symbols:
US;NSTG
Source BW Business Wire |
