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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts -- Ignore unavailable to you. Want to Upgrade?

To: JRO who wrote (14613)	4/16/1999 11:47:00 AM
From: bob sims	Read Replies (1) \| Respond to of 25711

HITT April 16, 1999 10:59 AM RANCHO CUCAMONGA, Calif.--(BUSINESS WIRE)--April 16, 1999-- Hitsgalore.com, Inc., HITT announced that it has entered into a Letter of Intent with the Life Foundation Trust for a $10 million investment in the company. The transaction involves 2 million shares of stock that the trust, with assets in excess of $1 billion, will hold under the terms of a lock-up agreement. Steve Bradford, CEO of Hitsgalore.com, stated: "We are certain that this investment will help Hitsgalore.com gain valuable market share through the advertising campaigns we have planned. We will also be able to continue our development and expansion into other exciting technologies that are now being readied for release, many of which should occur by the end of this quarter." Jeanette Wilcher, trustee for the Life Foundation Trust, stated: "We were attracted to Hitsgalore.com because we believe it will be a major, porn-free yet profitable Internet search engine and portal. We also think that they have an exciting future with additional technologies that will serve their unique market niche well, and we are looking to be a long-term holder of Hitsgalore.com stock." Hitsgalore.com gives away free lifetime banner placements and banners, generating revenue from its Keyword Bid & Rank program, banner sponsorship, and Local City Editions featuring local content. Hitsgalore.com strives to provide porn-free searching and does not accept or encourage any porn or adult-content listings on its site. The company believes this compares favorably with other Internet portals and search engine companies in general, such as Lycos, Inc. LCOS , Excite, Inc. XCIT , Infoseek Corporation SEEK and Yahoo! Inc. YHOO . The recent acquisition by Hitsgalore.com of the Internet Division of Solvere, Inc., a company that has previously partnered with such industry leading companies as Microsoft MSFT , MCI WCOM , Cisco Systems CSCO , Compaq Computer CPQ , and Hewlett-Packard HWP , provides Hitsgalore.com control over certain proprietary internet technologies that will be launched soon. Hitsgalore also recently announced a partnership with DoubleClick Inc. DCLK for online advertising. Since the advertising campaign was begun, traffic to the website at hitsgalore.com has increased, according to the company's internal counts, to more than 2 million hits per day. Several other major internet companies, such as America Online AOL , eBay Inc. EBAY , Amazon.com AMZN , Network Solutions, Inc. NSOL , CDnow, Inc. CDNW and priceline.com PCLN conducted major advertising campaigns in order to increase their name awareness and establish themselves as a Web destination. Statements in this press release other than historical facts are "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. Hitsgalore.com, Inc. intends that such statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements are subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the company's actual results could differ materially from expected results.