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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: LANCE B who wrote (14224)	8/20/1999 10:00:00 AM
From: KevinMark	Respond to of 108040

TSIG....volume up 2 straight days. Bought a few! ST. PETERSBURG, Fla., Aug 19, 1999 (BUSINESS WIRE) -- TeleServices Internet Group, Inc. (OTC BB:TSIG), known as TSIG.com, today announced that it has executed an agreement to become the exclusive sales representative for the U.S. and Canada for EBS Ltd., a Bermuda corporation that provides turnkey eBusiness solutions through EOCnet.com. To offer its clients a turnkey solution for transacting their eBusiness transactions, EOCnet.com has formed strategic partnerships with five well-known companies: Sterling Commerce (NYSE:SE); Bank of Bermuda; Cable & Wireless (NYSE:CWZ); VISA International; and PricewaterhouseCoopers. TSIG will be working with EOCnet.com's partners in a joint sales and marketing effort in the United States and Canada. Under the agreement, TSIG.com will receive a commission equal to fifteen percent of the transactional revenue received by EOCnet.com from U. S. and Canada clients. It is anticipated that most of these revenues will be generated by processing credit card and other electronic transactions over the Internet. Based on discussions with EOCnet.com, TSIG.com has set minimum targets of revenues to EBS of $4.5 million in year 1, $20 million in year 2, $45 million in Year 3, $65 million in year 4, and $75 million in year 5. EOCnet.com worked with legislators and regulatory bodies in Bermuda to pass the EBS Ltd. Act of 1999, legislation which makes it possible for companies located anywhere in the world to conduct international electronic commerce transactions in Bermuda. The EBS Ltd. Act of 1999 makes it possible for companies to establish "e-Suites(R)", a newly created Bermuda legal entity (in effect a "virtual corporation") which allows companies to transact e-business in Bermuda without maintaining a physical office there. The legislation contains various provisions regarding the formation and validity of electronic contracts, and also addresses the protection of data based on the European Commission's European Data Protection Directive 95/46/EC. EOCnet.com decided to locate in Bermuda because of the government's progressive and responsive, pro-business policies. The Bermuda government strives to reduce the reporting and compliance burdens on companies, and in recent years, many international reinsurance and financial companies have established offices there. Bermuda also has a strong legal and technological infrastructure, as well as a highly educated and diverse workforce. "We are delighted that EBS has selected TSIG.com to handle its sales in the United States and Canada," said Robert Gordon, chairman and chief executive officer of TSIG.com. "This is a great opportunity for TSIG.com to build a multi-million dollar revenue stream, with minimal overhead cost to us. We believe that EOCnet.com and its world-class partners offer eBusiness solutions that will appeal to many U.S. companies." In an article titled "EOCnet.com: Has it Broken the Code?", the Gartner Group's Dataquest describes EBS as an "innovative e-business service offering" that is "leveraging on the success of the Bermudan reinsurance industry." In describing the company's "competitive advantage," the article concludes: "The strength of the six strategic alliances, coupled with the fact that EOCnet.com has an exclusive three-year agreement with the Bank of Bermuda, the premier bank in Bermuda performing international credit card processing, should keep EOCnet.com well ahead of expected competition. Moreover, EOCnet.com has the stated support of the Bermuda government." About TSIG.com Headquartered in St. Petersburg, Florida, TSIG.com created the myMusicCard program to enable consumers to purchase CDs and cassettes at the lowest prices, and to develop revenue-generating programs with corporations and non-profit organizations that attract consumers to customers' sites. TSIG.com also provides customer service and support with its Web-based call center and related services. The company's myMusicCard site is at www.myMusicCard.com. For more information on TSIG.com, please visit the company's Web site at www.tsig.com. This press release contains "forward-looking statements" within the meaning of Section 27A of the 1933 Securities Act and Section 21E of the 1934 Securities Exchange Act. Actual results could differ materially, as the result of such factors as (1) competition in the markets for outsourced teleservices, and for the products and services sold by the company, (2) the ability of the company to execute its plan, (3) the availability of financing at favorable terms, and (4) other factors detailed in the company's public filings with the SEC. Copyright (C) 1999 Business Wire. All rights reserved. -0- CONTACT: TSIG.com, St. Petersburg Paul Henry, 727/897-4000 phenry@tsig.com WEB PAGE: businesswire.com GEOGRAPHY: FLORIDA INDUSTRY CODE: COMPUTERS/ELECTRONICS COMED INTERACTIVE/MULTIMEDIA/INTERNET Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. * end of story *