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To: micky who wrote (30)11/10/1998 11:56:00 AM
From: mijbe  Read Replies (1) | Respond to of 32
 
Text of the release:

Liverpool, England, Nov. 6 PRNewswire: Valence 9 announced today that following the recently held shareholders' meeting of Image Advertising, the shareholders of Image voted to accept the takeover offer from Valence 9 and the offer was declared unconditional, with Valence 9 now holding in excess of 90% of the outstanding stock of Image.

The completion of this acquisition goes to confirm that Valence 9 is continuing its stated strategy of business growth in the Internet and Internet related services sector.

The acquisition of Image Advertising brings to Valence 9 a subsidiary that is active in the UK advertising industry. Image Advertising continues to expand in the UK marketplace. It has the benefit of considerable managerial expertise and strong sales. Continued innovation will utilise the most up-to-date Internet techniques to bring national and local advertising to Image's kiosks which are placed in key locations throughout the UK.

While there are increasing numbers of Internet Service Providers and millions with Internet access, putting content on the world wide web (web publishing) is not so accessible due to cost, complexity and security issues. Valence 9's PageFactory overcomes each of these issues and enables anyone with a computer to publish on the Internet. Page Factory will drastically reduce the costs associated with managing Internet and intranet content and make it feasible to implement and maintain creative corporate Intranet solutions.

Image provides valence 9 with its first operational division in the UK market where it is still possible to acquire technology - related companies for a fraction of their equivalent US costs.

Valence 9 has identified several further acquisitions and is at an advanced stage of negotiations with several of the prospective acquisitions which will position Valence 9 as a fully integrated services and solutions provider, the furthest advanced of these is Digital Media Corporation (DMC) of Liverpool, England. DMC is a UK multimedia corporation who provides specialised content for CD Rom and Internet distribution. It is anticipated that a letter of intent will be signed within the next fourteen days.