To: Dave Gore who wrote (7 ) 1/28/1999 1:38:00 PM From: Dave Gore Read Replies (1) | Respond to of 70
MARINA DEL REY, Calif.--(BUSINESS WIRE)--Jan. 27, 1999--Garrett K. Krause, president and chief executive officer of Sara Hallitex Corp. (OTC BB:SHAL), confirmed that the company's two most recent SIPODs (companies spun out into the public market through the Sara Hallitex-IPO-Dividend-Spin-Out Program), Tril-MediaNet Inc. and SolutionNet Inc., have already exceeded management's conservative estimates for the number of companies to be spun out by Sara this year. In addition, dividends issued to qualifying Sara Hallitex shareholders will exceed $16.2 million for these two SIPOD companies alone. Through the SIPOD program qualifying Sara shareholders of record are issued stock dividends in all the new SIPOD companies pursuant to the company's announced cut-off date. (Tril-MediaNet's qualifying date was Jan. 8, which includes all settlement dates up to Jan. 13.) SolutionNet's dividend qualification is the close of trading on Friday, Jan. 29, and individuals can still qualify for this bonus before the upcoming worldwide launch of the company's ENET-Internet Banking product with Oracle Corp. (Nasdaq:ORCL) and Sun Microsystems (Nasdaq:SUNW) -- SolutionNet's Internet solutions software development partners. Moreover, plans for the Sara Hallitex expansion have been moved up out of necessity and Silicon Valley/San Jose, Calif. -- America's No. 1 venture-capital location -- was chosen to be the hub of the company's Internet-related software development SIPODs. Anticipated trading dates for all three of the Sara Internet SIPODs, SolutionNet, Tril-MediaNet and X-SELNET, Technology Group Inc., will be staged over the next 60 days. Additionally, an offering prospectus is currently being finalized to establish the company's $10 million Internet Technology Venture Capital Fund aimed at attracting other high-potential, Internet solutions/software innovators to the Sara Hallitex "family." Krause commented, "As Sara's three Internet companies begin trading publicly, we feel confident that this will result in a definitive windfall of our shareholders' stock value and the company's bottom line." For more on Sara Hallitex, visit the company's Web site at www.sarahallitex.com, or contact: Sara Hallitex Corp., 4344 Promenade Way, Suite 102P, Marina del Rey, Calif. 90292; tel: 310/823-5008 (Investor Relations Dept.); fax: 310/827-6255; e-mail: invrel@sarahallitex.com. Statements in this release are made pursuant to the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risk and uncertainties, including without limitation, continued acceptance of the company's services, increased levels of competition for the company and dependence on the performance of the management of the company. CONTACT: Sara Hallitex Corp., Marina del Rey 310/823-5008 (Investor Relations Dept.) 310/827-6255 (fax) e-mail: invrel@sarahallitex.com