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To: Jerry Olson who wrote (36621)	4/27/1999 10:38:00 AM
From: puborectalis	Read Replies (1) \| Respond to of 120523

SCF..cache player..500K float..name change...................Monday April 26, 9:11 am Eastern Time Company Press Release The Scandinavia Company, Inc. to Spin Off the Hotel Assets, Change Name to Xcelera.com. and Focus Exclusively On the Internet GREENWICH, Conn.--(BUSINESS WIRE)--April 26, 1999--The Scandinavia Company, Inc. (''the Company'') announced that its Board of Directors will propose to its shareholders that the Company's hotel and associated companies be spun off into a new company. Each shareholder will receive one new share in the new company for each existing share. The Board will also propose to change the name of the company to Xcelera.com. The company will focus exclusively on Internet businesses. Following the spin off the Company's main asset will be Mirror Image Internet Inc. Mirror Image is a broadband and Internet infrastructure company that owns the central caching space, enabling ISP's and enterprises to deliver significantly faster Web downloads to their Internet users. The company is the first mover in central caching and offers a patent-pending product, the Central Cache Connection. Mirror Image is well positioned to greatly benefit from the tremendous anticipated growth in broadband access and streaming media content. Mirror Image deploys and operates a global network of large, highly scalable central caches at key Internet exchange points that serve as distributed content servers to help speed Internet downloads and relieve bandwith bottlenecks. By providing this open, easy-to-access solution, Mirror Image can significantly the speed performance for ISP's and enterprises. Mirror Image's revolutionary open caching solution requires no new hardware, installation or maintenance. Mirror Image's global network of central caches provides the platform to offer additional premium services to ISP's, enterprises and content providers worldwide. It also allows the company to offer various solutions enabling high speed internet traffic. Further information on Mirror Image can be found at mirror-image.com.