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To: Pluvia who wrote (32817)	2/4/1999 1:42:00 PM
From: Stock Master	Respond to of 34592

SYCONET.COM (SYCD) BREAKING OUT ON BIG VOLUME TO $.66 FROM $.28 YESTERDAY SYCO DISTRIBUTION CHANGES NAME TO SYCONET.COM TO REFLECT ITS GROWING INTERNET BUSINESS -- Corporate Name Change Effective Immediately -- Manassas, VA - February 3, 1998: SyCo Distribution, Inc. (OTC BB: SYCD), the leading U.S. distributor of Anime Japanese animated videos and DVDs, today announced a corporate name change to SyCoNet.com, Inc. to better reflect the Company's growing focus on Internet sales. The Company reported that it does not plan to change the stock symbol or cusip number. “E-commerce represents an ideal expansion opportunity for our business given the phenomenal growth of Internet users worldwide,” commented SyCoNet.com CEO Sy Picon. “We intend to pursue the Internet as our primary distribution channel since this medium enables the Company to achieve significant cost reductions while enabling a greater portion of revenues to fall to the bottom line. In the next year we expect online sales to represent 25% of our overall revenues, with a goal of generating 75% of all information distribution and orders over the Internet within five years.” The Company has a strong online presence with two high-traffic websites. The retail site, www.altvidwar.com, generated an average of $25,000 in weekly sales over the past month. Revenues from the wholesale site, www.sycodistribution.com, have grown roughly 30% exponentially during the last three months as the customer base expanded from nearly 700 to over 1,100 clients. SyCoNet.com, Inc., formerly SyCo Distribution, distributes Anime Japanese animated movies, live action cult films, multimedia games and software, toys, apparel, and related merchandise to retail and consumer markets nationwide through two high-traffic websites, a catalog, and direct sales campaigns. Forward-looking 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 products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, intellectual property rights, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.