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Microcap & Penny Stocks : MEME Media Entertainment -- Ignore unavailable to you. Want to Upgrade?

To: Alan Markoff who wrote (183)	3/10/1998 8:09:00 AM
From: Michael	Read Replies (1) \| Respond to of 638

Company Press Release Tuesday March 10, 7:30 am Eastern Time Company Press Release SOURCE: Media Entertainment, Inc. MEME to Acquire Internet Service Provider BATON ROUGE, La., March 10 /PRNewswire/ -- Media Entertainment, Inc. (OTC Bulletin Board: MEME - news) announced today that it has entered into a letter of intent to acquire Intersurf Online, Baton Rouge's second largest Internet Service Provider [ISP]. Intersurf provides Internet access to approximately 1,000 customers. MEME is to acquire Intersurf with a combination of cash and common stock. MEME and Intersurf expect to enter into a definitive acquisition agreement in the near future. ''This is just the first of what we hope are many acquisitions of small, yet profitable, dial-up ISPs,'' said David Loflin, MEME's President. ''One prong of our aggressive growth strategy calls for MEME to identify suitable markets, acquire a locally-owned dial-up ISP in each market, essentially plug- in our proprietary Wireless Internet Access System, and start selling our Wireless Internet service,'' continued Mr. Loflin. ''As for this Intersurf deal, we have been impressed with their operation since we began working alongside the Intersurf people early last December, and we are extremely excited to have the opportunity to acquire such a large, first-class operation as our first acquisition. Plus, as part of the acquisition, we will be getting employment contracts with the three key people at Intersurf, all of whom possess technical expertise that we will need as we grow.'' Mr. Loflin also indicated that MEME will continue to pursue the acquisition of small dial-up ISPs, as well as the start-up of new Wireless ISPs, as it attempts to achieve operational economies of scale. Mr. Brian LeBlanc, President of Intersurf, when asked for comment, said, ''We think the real future of the ISP business is in the Wireless arena, and we wanted to be a part of the growth of MEME's Wireless Internet business.'' MEME's proprietary Wireless Internet Access System operates within a broadcast signal in the 900 or 2400 MHz band using two-way modems (internal or external) outfitted with an antenna. Thus, MEME's Wireless Internet Access System has no reliance on hard wire to transfer data, making the local telephone company no longer necessary for Internet access. MEME is in need of additional capital to expand the exploitation of its proprietary Wireless Internet Access System. In addition to MEME's attempts to exploit its proprietary Wireless Internet Access System, MEME continues to pursue potential customers for its proprietary Wireless DataLink System, which is designed as a less-maintenance-intensive alternative to traditional hard-wire, high-speed data transmission systems. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, without limitation, the ability of MEME to accomplish its stated course of action. Although MEME believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and, therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by MEME or any other person that the objectives and plans of MEME will be achieved. Additional information regarding MEME can be obtained from Mr. Raymond Bary, NIBAR Group, Inc., 415-474-1647 or at www.stockwire.com. SOURCE: Media Entertainment, Inc.