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To: justmickey who wrote (59587)	8/18/2000 10:47:52 AM
From: Qone0	Respond to of 150070

More NSTG news. Brings them to $200 million in estimated revenues. Friday August 18, 10:22 am Eastern Time Press Release NorStar Launching Additional Immersive Internet Virtual Reality Products on its Website FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Aug. 18, 2000--Norstar Group, Inc. (OTCBB:NSTG - news) confirmed today that its innovative and cutting edge domain (www.veearecity.com) is firming up additional plans to launch the first of its proprietary live video/audio entertainment based Internet Virtual Reality products on its website. When completed, the Company's business model is projecting an estimated $50 million in earned income during its first three years. NorStar's proprietary online Virtual Reality Live Entertainment, Games, and Educational products can be downloaded for use with the Company's unique Virtual Reality headgear. ``The Company plans to utilize the Internet in ways that were never imagined,'' said Jay Sanet, NorStar Director of Corporate Development. ``With today's advances in live video/audio streaming NorStar is perfecting a proprietary method that will make possible for VeeAreCity.com to offer live, special pay for view events, such as concerts, lectures, sporting events, etc., to its subscribers in a fully immersive 3-dimensional stereoscopic environment,'' added Sanet. According to industry sources Internet content called ``webisodes'' will be viewed by a larger base of Web users on a more regular basis, for longer periods of time. More than three-quarters of US Internet users have already watched entertainment on the Internet, a figure that will grow to a penetration of more than 90% by the end of 2000. The size of the online entertainment market is projected to grow 64 percent to $1.8 billion by the end of 2000, up from $1.1 billion in 1999, according to a study by Gemini Consulting. Sanet went on to say, ``NorStar's goal is to pioneer methods that will add a new dimension to the meaning of the term `Home Entertainment'. As this online market rapidly matures the possibilities are endless, especially for advertising and other ancillary services. Norstar intends to use, to attract, and cross-promote this and other products to a burgeoning global Internet population.'' Through selective acquisitions and partnering alliances, NorStar Group, Inc. (OTCBB:NSTG - news) is positioning itself to be a leading provider of interactive, virtual reality, entertainment, educational, and business products and services. NorStar is also the co-developer of a proprietary lightweight, comfortable and affordable virtual reality headgear, The Cybervisor(TM), which is designed for home and school. Safe Harbor: Certain statements contained in this press release, including but not limited to information regarding the future economic performance and financial condition of the Company, the plans and objectives of the Company's management and the Company's assumptions regarding such performance and plans, are forward-looking in nature. Many factors and conditions could cause actual results to differ from the forward-looking information contained in this public announcement. -------------------------------------------------------------------------------- Contact: NorStar Group, Inc., Fort Lauderdale Jay Sanet, Director of Corporate Development 954/772-0240, Fax 954/492-0155 Email: NSTG@Bellsouth.net Email this story - View most popular stories emailed