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Strategies & Market Trends : Stock Watcher's Thread / Pix of the Week (POW) -- Ignore unavailable to you. Want to Upgrade?

To: Stock Watcher who wrote (19399)	11/19/1999 10:37:00 AM
From: Jetta	Respond to of 52051

Virtual Technology Corporation (VTCO)to Become Netdirect Corporation International Friday November 19, 10:00 am Eastern Time Company Press Release SOURCE: Virtual Technology Corporation MINNEAPOLIS, Nov. 19 /PRNewswire/ -- Virtual Technology Corporation (OTC Bulltein Board: VTCO) today announced that it is changing its name to Netdirect Corporation International(TM) effective immediately. The company also plans to change its stock symbol and is in the process of filing the necessary registration materials. Gregory Appelhof, CEO and president said that the name is being changed to reflect the company's rapid expansion into the global business-to-business and consumer e-commerce markets. Earlier this month, Virtual Technology and Lycos, Inc., the leading Internet portal and the world's largest online community, announced a strategic agreement that will create a co-branded Internet site where business customers and consumers can purchase computers and technology-related products. ''We are not taking this step to identify ourselves with the current stock market infatuation with dot com companies,'' Appelhof explained. ''We are more than just a 'virtual technology' company or simply another e-commerce site. Rather, we are a fast-growing company with a proven record of marketing a vast selection of technology products and services to both business customers and consumers via the Internet and providing value in the process. ''The fact that we're already the second largest online computer hardware and software retailer in Europe also demonstrates that we deserve to be known as an international company,'' Appelhof added. Netdirect Corporation International will continue to consist of four primary business units: an ''e-tail'' Web site currently located at virtual-world.com , which offers more than 60,000 hardware products, 100,000 software titles, 25,000 office products and thousands of consumer electronic products; Graphics Technologies, Inc. at graphicstech.com , a 12-year-old wholesaler and distributor of high-end computers and graphics products with seven regional offices and 1998 sales of $65 million; Community TechMart(TM), a private label e-commerce service with complete inventory, fulfillment and transaction processing systems; and a technology auction service located at http:/www.auctions.vtechco.com SOURCE: Virtual Technology Corporation