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

To: LKottal who wrote (18772)	10/14/1999 11:04:00 AM
From: greg lacki	Respond to of 108040

PXSCD news out Thursday October 14, 10:39 am Eastern Time Company Press Release Phoenix Summus Completes Acquisition Of E-Commerce Provider i-Transaction.net NEW YORK--(BUSINESS WIRE)--Oct. 14, 1999--Phoenix Summus Corp. (OTCBB: PXSCD - news) announced today that it has completed the acquisition of i-Transaction.net, Ltd., a global processor of e-commerce transactions. The Company has purchased all of the 5 million common shares of i-Transaction.net. David Bruce, President of Phoenix Summus said, ``This acquisition allows us to move closer to our goal of becoming the pre-eminent e-commerce transaction provider on a global scale.' i-Transaction.net electronically processes financial transactions for various companies engaged in e-commerce, credit card and other financial transactions. Phoenix Summus designs and develops business-to-business and consumer-to-business e-commerce solutions, and also acts as the back-end transaction processor for these systems. Phoenix Summus offers EDI, electronic funds transfer, and advertising and marketing database support. Phoenix Summus expects to offer an extended e-commerce product line that will include an online grocery shopping service and an online healthcare facility. The online grocery shopping will encompass both shopping by consumers and direct ordering by retailers from distributors. The health and wellness facility will use the power of the Internet to link worldwide buyers and vendors of medical supplies. Healthcare providers and suppliers alike will be able to buy and sell on-line in a unique, secure environment. Contact: Phoenix Summus Corp Lisa Nolan, 407/581-0307