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Technology Stocks : PRIMEHOLDINGS.COM INC. (PRIM) OTC:BB -- Ignore unavailable to you. Want to Upgrade?

To: scouser who wrote (64)	8/25/1999 2:22:00 PM
From: Jim Bishop	Read Replies (2) \| Respond to of 153

News today: SALT LAKE CITY, Aug. 25 /PRNewswire/ -- PrimeHoldings.com, Inc. (OTC Bulletin Board: PRIM - news), today announced that it has reached an agreement to acquire the assets of Pelican Hill Holding Company (Santa Ana, Calif.), holders of the domestic marketing rights to the GolfAgent online tee-time reservation system in the United States. Additional details of the agreement were not released. The GolfAgent system (www.golfagent.com), currently used extensively throughout Great Britain and Ireland, allows golfers to schedule their own tee times at local or distant courses through the Internet. Participating golf courses use the local GolfAgent software to schedule tee-times via phone and can also synchronize their system with the GolfAgent server to make all open tee times available on the GolfAgent web site for remote purchase. Alternatively, golfers can call GolfAgent's toll-free telephone line and speak to live representatives who can place the reservation for them. The GolfAgent system benefits golf courses by helping to sell unreserved tee times and by eliminating the overhead required to answer phone calls and place manual reservations. In exchange, GolfAgent receives a small percentage of each greens fee transaction. GolfAgent will also profit through planned affinity marketing programs with golf courses and golf-related product providers, targeted at golfers who use the GolfAgent system. According to the National Golf Foundation, the number of golfers in the United States rose by 33 percent between 1986 and 1999, from 19.9 million to more than 26.4 million, making it one of the world's fastest growing leisure activities. In the same period, the number of golf courses rose 22% from 13,353 to 16,365 -- 70 percent of which are open to the public. Total annual spending on golf equipment, related merchandise and playing fees topped $16.3 billion in 1998. ''Golf is big business and Pelican Hill's license to the GolfAgent system in the United States puts them in a great position to capitalize on this sure-fire business opportunity,'' said Thomas E. Aliprandi, president and CEO of PrimeHoldings.com. ''The Pelican Hill acquisition gives PrimeHoldings.com an important presence in one of the fastest-growing consumer markets and provides a complementary partner to our other affinity marketing subsidiaries.'' Pelican Hill Holding Company President Michael Barron said the agreement would give his company a strong partner that is dedicated to Internet affinity marketing. ''PrimeHoldings.com has the infrastructure we need to grow our business and provides the marketing and sales expertise that it will take to make GolfAgent a de facto standard means of selling golf-related products and services,'' he said. About the GolfAgent Online Reservation System The GolfAgent system has many features that are designed to attract golfers, but the key to the system is the ease of use provided to golf course owners. Using course management software (which GolfAgent can supply, or the club can use its existing software), golf courses can easily submit tee times to the Internet server and retrieve information about existing reservations. The course remains firmly in control of its tee times and can submit as many or as few tee times as required for sale on the central server. All integration with the course's system is automatic, so no Internet knowledge is required. When tee times are booked on the Internet, the golfer's details appear on the course's system as if the person had telephoned the course and they had taken the booking themselves. All reservations are guaranteed by credit card over a secure, SSL-based connection. About PrimeHoldings.com, Inc. PrimeHoldings.com, Inc. (OTC Bulletin Board: PRIM, formerly PrimeSource Communications Holdings, Inc. traded under OTC Bulletin Board: PSCM) develops and operates Internet-based and Internet-related technology companies that together form a community focused on business intelligence and electronic commerce. Other current PrimeHoldings.com companies include: bCard.net, a leader in smart card technologies; Navilor, a leader in automated forms processing services; eROI, a cutting-edge provider of technology for evaluating hard-to-measure business processes such as training, and UniQuest Communications, a top agency of telecommunications reseller UniDial, Inc. For more information call 801-562-1444 or visit www.primeholdings.com. This news release may include statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Please be cautioned that any such forward-looking statements are not guarantees of future performance and involve significant risks and uncertainties, and that actual results may vary materially from those in the forward-looking statements as a result of any number of factors, including the risk factors contained in the Company's disclosure documents. Trademark Notice: All trademarks named above are the property of their respective holders. SOURCE: PrimeHoldings.com, Inc.