(Applies to: MKTS)
MarketCentral to Acquire PSM Global and Paper Street Media
ENGLEWOOD, Colo., Oct 1, 2001 /PRNewswire via COMTEX/ -- MarketCentral.net Corp.
(OTC Bulletin Board: MKCT) an Internet advertising enabler and specialized
application service provider has executed a Letter of Intent to acquire 100% of
PSM Global, Inc. (www.psmglobal.com ) and its wholly owned subsidiary, Paper
Street Media, LLC (www.paperstreetmedia.com ). The transaction value is
undisclosed.
PSM Global employs its proprietary online messaging technology to deliver
rich-media interstitial advertising content directly to Internet subscribers.
ISPs (Internet Service Providers) and subscribers control the frequency of
advertisement delivery. The technology enables ISPs to improve subscriber
retention and increase revenue while empowering subscribers to control the
amount they pay for ISP services.
PSM has developed a global patent pending online advertising solution for a
diverse range of customers. PSM's proprietary software "RateSlider(TM)" lets
Internet subscribers decide -- as often as session by session -- how frequently
rich-media, television-like advertisements are displayed in the interstitial
space between Web sites. The RateSlider System provides ISPs with improved
subscriber retention and a unique, patented revenue enhancement tool while
empowering advertisers with a highly effective Web advertising solution.
PSM's software licensee for the Peoples Republic of China, Net Ad Communications
Ltd., ("Net Ad") exclusively services approximately 7.5 million subscribers with
rich-media interstitial advertising in China through the Company's wholly owned
subsidiary (www.psmchina.com). Net Ad has booked approximately $1.6 million of
Chinese advertising for the nine months from June 2000 through October 2001 and
is exclusively contracted to provide rich media advertising to the following
Internet Service Providers in the Peoples Republic of China:
* China Telecom Guangdong, with over 2,000,000 subscribers
* China Telecom Hunan, with over 100,000 subscribers
* China Telecom Jiangsu, with over 1,000,000 subscribers
* China Telecom Shanghai, with over 1,500,000 subscribers
* China Telecom Sichuan, with over 300,000 subscribers
* China Telecom Zhejiang, with 1,200,000 million subscribers
ISPs that currently utilize PSM's push technology include:
* Spaceon Goldenbridge, with over 5,000 employees and computers
ISPs that offer PSM's software as an option to subscribers include:
* Gosun, with over 500,000 subscribers -- principally in Guangzhou
* Huxun Information Tech. Co., with over 300,000 subscribers throughout
China
* Sichuan Goldenbridge, with over 3,000 dialup and 100,000 projected DSL
subscribers
* Xinnet, with over 400,000 subscribers - principally in Guangzhou
Kimble Cannon, Chairman and CEO of PSM Global, stated, "We are excited about
contributing to MarketCentral's mission of providing cutting-edge, value-added
products to ISPs around the world. Our strong market position in China will
serve as a base from which to introduce MarketCentral's other offerings in
China. Success of our RateSlider(TM) platform in China will demonstrate how ISPs
can transform their model to derive revenue from multiple sources. We believe
MarketCentral is in a strong position to create great value using the technology
innovations and strong operations base PSM has built over the past two years."
Paul Taylor, Chief Executive Officer of MarketCentral.net, commented, "We are
looking forward to the challenge of enlarging and strengthening the position
that PSM has created in China. PSM's patent portfolio differentiates our Company
from all Internet advertising and promotion businesses in the world.
Simultaneously with the expansion and augmentation of PSM's existing business in
the China, the Company shall be aggressively marketing the RateSlider to US
ISP's along with the AD-APT software and our proprietary Browser Toolbar
System."
About PSM
PSM Global, Inc. and its subsidiary Paper Street Media, employ proprietary
online messaging technology to deliver rich media content, including advertising
content, directly to Internet subscribers. ISPs and subscribers control the
delivery of this content, enabling ISPs to improve subscriber retention and
increase revenue while empowering subscribers to control the amount they pay for
service. PSM's products serve ISPs, academic institutions and corporations. PSM
is headquartered in McLean, Virginia, near Washington D.C., with local offices
located at Shanghai and Chengdu City in the Peoples Republic of China.
Additional information can be found at www.psmglobal.com and
www.paperstreetmedia.com .
About MarketCentral.net
MarketCentral.net Corp. is a business created to leverage the combined services
of an infrastructure company (an 'Enabler') and an Application Service Provider
('ASP'). The Company is based in Englewood, Colorado. The Company's stock has
been publicly since February 1999 and currently trades on the OTCBB.
MarketCentral.net implements a 'bundled delivery approach' to wholesaling vISP
('Virtual Internet Service Providers') services and channeling a portfolio of
rich-media advertising, promotional and profiling technologies to ISPs and
wISP's ('Wireless Internet Service Providers') subscribers. The Company makes
the infrastructure available to advertisers directly or through Internet
advertising agencies. Additional information can be found at
www.marketcentral.net .
Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: This news release contains forward-looking information within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, including statements that include
the words "believes," "expects," "anticipates" or similar expressions. These
include the failure of any of the conditions to closing stated above, completion
of the acquisitions of the target businesses, attracting necessary management, a
delay in the formal launch of the website, raising the necessary capital to fund
business operations and potential market competition. Such forward-looking
statements involve known and unknown risks, uncertainties and other factors that
may cause the actual results, performance or achievements of the Company to
differ materially from those expressed or implied by such forward-looking
statements. (Such factors include, among others, the risk factors contained in
the company's Annual Reports and other filings with the Securities and Exchange
Commission.) In addition, description of anyone's past success, either financial
or strategic, is no guarantee of future success. The Company will remain
dependent upon future financing for its growth and development, and for it to
successfully implement its business plan. No statement contained herein should
be construed as indicating that such financing is or will be available, and if
available, will be on terms favorable to the Company. This news release speaks
as of the date first set forth above and the Company assumes no responsibility
to update the information included herein for events occurring after the date
hereof.
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