Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : George Gilder - Forbes ASAP -- Ignore unavailable to you. Want to Upgrade?

To: Raymond Duray who wrote (4713)	8/11/2000 2:50:58 PM
From: Jack Hartmann	Read Replies (1) \| Respond to of 5853

Ray, I don't really follow XLA, but here some leads. BIZWIRE Back to Headlines \| Show All News 08-11-2000 01:50:28 PM ON24 Audio Investor Alert: Xcelera CEO Discusses Tax Issues, Mirror Image and Insider Selling Business Editors --(BUSINESS WIRE)--Aug. 11, 2000-- Xcelera has been in the news lately on a variety of topics. Alex Vik, CEO of Xcelera spoke to ON24 about his company's current state of affairs. For the complete streaming audio story users should access on24.com GRAND CAYMAN, British West Indies--(BUSINESS WIRE)--August 11, 2000--The Board of Directors of Xcelera.com Inc., (AMEX: XLA), a European Internet technology company, today announced that the Company intends to declare a special dividend to shareholders to address income taxes, if any, that may be due by a U.S. shareholder as a result of Xcelera's potential classification as a foreign personal holding company for the taxable year ending December 31, 2000. Xcelera intends to declare the dividend, if necessary, to shareholders of record on December 31, 2000 or on such other date deemed the record date for classification as a foreign personal holding company. If a special dividend is declared, it will represent approximately 40% of Xcelera's undistributed foreign personal holding company income for the year 2000. The highest marginal U.S. federal income tax rate is 40% for individuals. Alexander M. Vik, CEO of Xcelera, said, "This action is consistent with our continuous efforts to protect and enhance shareholder value. If the Company is determined to be a foreign personal holding company, the tax treatment of an investment in Xcelera will be similar to that of a typical U.S. fund. Xcelera greatly appreciates the continued support of its shareholders and will continue to look out for their best interests." About Xcelera Xcelera.com Inc., is a European Internet technology company focusing on operating, developing and financing Internet technology companies whose technologies, products or services can be enhanced by or complement Xcelera's core competencies in content management, content distribution, caching, storage and streaming. The company is actively expanding its portfolio of Internet companies. The company has a controlling interest in Mirror Image Internet, an Internet infrastructure company that speeds up the Web; and investments in deo.com, an Internet music portal; MNW Records, Scandinavia's leading record company that plans to produce music over the Internet; e-game.com, a leading developer and distributor of adgames; CoreChange, a leading Web-based infrastructure technology company focused on the B2B market; Wideyes, an international Internet recruitment company focused on the European marketplace; Active ISP, a leading European shared Web hosting company; Dynamic Imaging, a leading image processing technology company focused on the global B2B image processing market; HelpinHand, a leading Web-based technology company focused on the fast-growing global wireless Internet market; Suntail.com AS, an Internet infrastructure software development company; and MarineProvider, a marine service Internet company focused on the maritime industry. io Publishing, a leading web- based technology company serving the global professional Internet publishing market. For more information, visit us on the Web at www.xcelera.com. This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding management's beliefs about the Company's future prospects. All forward-looking statements are management's present expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements, including, but not limiting to, those risks and uncertainties disclosed in the Company's Annual Report on Form 20-F for the fiscal year ended January 31, 2000. The Company expressly disclaims any obligation to update or alter any forward-looking statements. ********** Hope it helps. Jack