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

To: Mac who wrote (21216)	12/10/1999 12:47:00 PM
From: Stock Watcher	Respond to of 52051

Mac; ZSUN is simmering; SHPS news: Friday December 10, 12:11 pm Eastern Time Company Press Release SOURCE: shopss.com, Inc. shopss.com Signs Agreement to Acquire Classnet for $5 Million PLAINVIEW, N.Y., Dec. 10 /PRNewswire/ -- shopss.com, Inc. (OTC Bulletin Board: SHPS - news), the pioneering virtual shopping mall, today announced an agreement to acquire a fifty percent stake in Classnet Ltd., an Israeli Internet Service Provider, for $5 million to be paid in common stock. Classnet currently has over 4000 committed customers. The transaction will provide $4 million in shopss.com common stock to Classnet Ltd. and $1 million in shopss.com common stock to Classnet owner, Ben Oz. ``The purchase of Classnet is part of a larger strategy to acquire a number of ISP's so we may expand Internet services to committed shopss.com customers,' said Jerry Conca, CEO of shopss.com. ``Additionally, this acquisition will increase our continually growing committed customer base.' The shopps.com now offers a Gold Card membership to consumers. The gold card membership, which costs $299 per year, provides an array of benefits, including a free 500Mhz Pentium III computer. As part of the contract, Gold Card members must agree to receive one e-mail per day from shopss.com. The Gold Card membership also includes the shopss.com Phonetastic service, which provides unlimited calling throughout the U.S., Canada and Puerto Rico (Israeli consumers have use of this service in the U.S. only), participation in on-line auctions as a buyer and seller, 3 to 5 percent discount of all winning bids and special discounts on imported products. Gold Card membership will soon be introduced to the U.S. market. Regular shopss.com membership requires a two-year contract and a commitment to spend a minimum of $30 per month on the shopss.com website or at the shopss.com stores in Tel Aviv and Herzlia Petuach. Members who do not meet the $30 minimum requirement will be charged a $19.95 monthly service charge. Beyond the array of products available on shopss.com , members can also shop at other selected Internet stores, including Amazon.com, jcrew.com and 1-800-FLOWERS.COM.