To: joepcf who wrote (6770 ) 8/11/1999 12:54:00 AM From: Jim Bishop Respond to of 150070
SLEL news: SARASOTA, Fla.--Aug. 10, 1999--(BUSINESS WIRE)--Salient Cybertech, Inc. (OTCBB:SLEL - news) has signed an acquisition agreement with Gemini Learning Systems, Inc., a pioneer and leader since 1990 in the distance learning and training industry. Gemini developed and markets a suite of products utilizing their SWIFT (TM) technology, a client / server Adaptive Learning Environment (ALE) which supports streaming sound and video and ISO Standard Generalized Markup Language (SGML). This unique technology implements new pedagogically sound methods to deliver highly interactive, specialized course content over the Internet, Corporate Intranet or CDROM, all without course reformatting. SWIFT (TM) allows existing curricula to be quickly and easily adapted for computer assisted delivery. Salient Cybertech Chairman Larry Provost notes that ''Research reports indicate that distance learning will be a multi-billion dollar industry with double digit growth, and we believe that this acquisition represents an important step in maximizing shareholder value. Consumer, corporate and professional continuing education represents a huge distance learning market, and Gemini is the leader in course development and delivery technology. The SWIFT (TM) technology will capitalize on the four pillars of the Internet paradigm - Commerce, Content, Infrastructure and Technology, and is already in use worldwide by major corporations and educational institutions.'' ''Having negotiated and reached a detailed agreement with Gemini over the past several months, we are now working with our investment bankers Baxter, Banks & Smith to take the steps necessary for a fast track to closing,'' said Paul Sloan, CEO of Salient Cybertech. Visit Gemini's website at www.gemini.com. Questions should be addressed to Paul Sloan, Salient Cybertech, Inc. at Investor Relations (954) 570-5160. Forward Looking Statements: This news release contains certain ''forward-looking'' statements within the meaning of the Private Securities Litigation Reform Act of 1995, which provides a new ''safe harbor'' for these types of statements. To the extent statements in this news release involve, without limitation, product development and introduction plans, the Company's expectations for growth, estimates of future revenues, expenses, profits, cash flow, balance sheet items, sell-through or backlog, forecasts of demand or market trends for the Company's product categories and for the industries in which the Company operates, or any other guidance on future periods, these statements are forward-looking statements. The Company assumes no obligation to update forward-looking statements. Contact: Salient Cybertech, Inc. Paul Sloan, at Investor Relations 954/570-5160