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To: LANCE B who wrote (5880)	2/16/1999 1:27:00 PM
From: jccodez	Respond to of 11130

SYCD News: SyCoNet.com Reports 100% Sales Increase of Japanese Animated Videos At Katsucon Convention MANASSAS, Va.--(BUSINESS WIRE)--Feb. 16, 1999--SyCoNet.com, Inc., (OTC BB:SYCD), formerly SyCo Distribution, Inc., today announced that it sold approximately $25,000 of Anime Japanese animated videos last weekend at the fifth annual Katsucon convention. This represents a 100% increase from the Company's Anime video sales at the convention last year. The Company's Alternative Video Warehouse retail division attended the conference which attracted approximately 2,000 Anime fans from the Washington, D.C. metropolitan area, up from 1,200 last year. According to SyCoNet.com CEO Sy Picon, "We are extremely pleased with the results from the Katsucon convention which clearly demonstrate our growing reputation in the Anime market due to our expanded line of popular animated series such as Ninja Scroll and South Park. Although the year over year sales increase from the Katsucon show is exciting, this one relatively small convention represents a minor portion of our overall marketing campaign which has enabled SyCoNet.com to achieve tremendous growth in our product line and sales over the past year. "We expect to see a significant increase in visits and purchases over our retail website due to the Katsucon convention," Picon continued. "Approximately 90% of the Anime fans who attended the show buy Anime videos and related products over the Internet, and we received tremendous interest from these fans regarding our www.altvidwar.com website." SyCoNet.com has a strong online presence with two high-traffic websites. The retail site, www.altvidwar.com, generated an average of $25,000 in monthly sales in January 1999. Revenues from the Company's wholesale site, www.sycodistribution.com, increased roughly 30% exponentially during the last three months as the customer base expanded from nearly 700 to over 1,100 clients. Picon explained that the Company plans to further expand its product offering in order to maintain a 15% monthly revenue growth rate. SyCoNet.com continues to pursue distribution agreements for additional Anime video and ancillary products as well as CDs, DVDs, and videos from the U.S., Europe, and Japan. The Company also reported that its Alternative Video Warehouse retail division plans to showcase the SyCoNet.com Anime videos and full product line at approximately 25 conventions nationwide throughout the year. SyCoNet.com, Inc., formerly SyCo Distribution, Inc., distributes Anime Japanese animated movies, live action cult films, multimedia games and software, DVDs, CDs, 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.