To: Ronald de Castro who wrote (35362 ) 3/9/2000 9:51:00 PM From: SSP Respond to of 150070
Started trading today, from the last press release - WOWtown Acquisition, Name Change and Forward Split Completed SEATTLE, Feb. 28 /PRNewswire/ -- WOWtown.com, Inc. (OTC Bulletin Board: IWOW), formerly Paramount Services Corp. (OTC Bulletin Board: PTSV) is pleased to announce the acquisition of WOWtown.com, (Nevada) Inc. In conjunction with this acquisition, we have completed a private placement and a forward split of our share capital on the basis of two new shares of common stock for each old share of common stock and have changed our name from Paramount Services Corp. to WOWtown.com, Inc. WOWtown is a network of affiliated membership-driven Internet Marketing Portals that will harness the Internet by directing consumers toward their local community "bricks and mortar" businesses with real-time access to products, services and events within their own community. The network presents value-added savings, discounts, special features and benefits offered by participating community-based merchants and service providers on a local, regional and international basis. WOWtown's free membership program empowers consumers with a wealth of interactive, comprehensive and up to the minute information about community activities and local and international news. It also provides access to other WOWtown neighborhood sites across our network. WOWtown's unique approach to marketing will create a next-generation e-Consumer Network facilitating the needs of Business-to-Business (B2B) Business-to-Consumer (B2C) and Consumer-to-Consumer (C2C) groups. WOWtown has completed its first beta portal located at vancouverwow.com and is currently rolling out portals for Seattle and Las Vegas. Their links are:seattlewow.com and lasvegaswow.com . David B. Jackson has been appointed to our board of directors and will guide WOWtown as our Chairman and CEO. David Packman has been appointed as our President and a director. Stephen C. Jackson has also been appointed as Executive Vice-President, Secretary, Treasurer and a director. Andrew Hromyk has stepped down from our board. As a result of the acquisition, forward split, private placement and related transactions, the total number of issued and outstanding common shares of WOWtown has increased to 14,698,000. This release includes statements that may constitute forward-looking statements pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Although WOWtown believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be met. SOURCE WOWtown.com, Inc. -0- 02/28/2000 /CONTACT: investors, 1-877-WOW-town, or 877-969-8696, or info@WOWtown.com, for WOWtown.com, Inc./ /Web site: wowtown.com (IWOW) CO: WOWtown.com, Inc.