To: Harry who wrote (72718 ) 11/22/1999 10:24:00 AM From: Loren S. Respond to of 120523
SyCoNet.com Signs Letter of Intent to Acquire Dragonscroll, Inc. MANASSAS, Va.--(BUSINESS WIRE)--Nov. 22, 1999-- To Acquire the Leading Online Retailer of Role Playing, Collectible Cards and War Games Including Pokemon(R) Products SyCoNet.com, Inc. (OTC BB:SYCD), the leading U.S. distributor of Anime (Japanese animated) videos and DVDs, today announced it has signed a letter of intent to acquire Dragonscroll, Inc., the leading online retailer of role playing, collectible cards and war games, including Pokemon products. The terms of the agreement are currently not disclosed. Dragonscroll currently sells its products via its website www.dragonscroll.com. Dragonscroll offers over 20,000 gaming products on its site as well as a number of Web resources. President and Chief Executive Officer of Dragonscroll, Inc., Charles Chen stated, "This is a great opportunity for both companies. The synergies of the company product lines are tremendous and the potential for cross-selling within each clientele base is monumental." Chief Executive Officer Sy Picon commented, "The addition of Dragonscroll, Inc. into the Syconet family immediately expands our customer base into a vertical market of proven Anime buyers. We are extremely pleased to bring Anime products directly to the online gaming community." "With the addition of the Pokemon products, games, and accessories to our current Pokemon video line, the potential for revenue growth in this area is substantial. The integration of Dragonscroll's products, customer base, and knowledgeable staff will have a significant impact on our overall growth and total revenue," Picon added. For more information about purchasing Dragonscroll products, visit www.dragonscroll.com. SyCoNet.com, Inc., formerly SyCo Distribution, Inc., distributes Anime Japanese animated movies, including the Pokemon(r) video series, multimedia games and software, DVDs, CDs, toys, apparel, and related merchandise to over 1,000 wholesale and retail accounts nationwide through two high-traffic websites, a catalog, and direct sales campaigns. For more information on purchasing the Internet's lowest priced Anime videos, see www.animedepot.com. This press release contains forward-looking statements. Investors are cautioned that such forward-looking statements involve risk and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, intellectual property rights, and other risks detailed from time to time by the Company in reports and releases. CONTACT: SyCoNet.com OTC Financial Network Sy Picon Geoffrey Eiten 703-366-3900 877-663-0266/781-444-6100 ext. 13 admin@altvidwar.com geiten@otcfn.com KEYWORD: VIRGINIA