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Microcap & Penny Stocks : DWNS - Netbilling, an emerging e-commerce play. -- Ignore unavailable to you. Want to Upgrade?

To: Ron Harrington who wrote (30)	6/2/1999 10:14:00 AM
From: Trade4$	Respond to of 33

Hot off the press: Downstream Announces the Appointment of New Management and the Acquisition of X-Real Intertainment Inc. Ltd. PR Newswire, Wednesday, June 02, 1999 at 09:55 SALT LAKE CITY, June 2 /PRNewswire/ -- Downstream Incorporated (BB: DWNS) today announced that the former Officers and Directors of Downstream have resigned and new Officers and Directors have been appointed. Downstream's new President is Philipp Kriependorf. Philip Kamp is the Company's new Treasurer and Olaf Cordt its new Secretary. The same three are now also the Company's Directors. Downstream's newly appointed management is currently preparing to change the name of Downstream to Q-Seven Systems and will then apply for a new trading symbol. The newly appointed management plans to have the Company trading on either the Berlin and/or the Frankfurt Exchange(s) as quickly as possible -- in addition to the OTC Bulletin Board in the US. Downstream also announced today that the acquisition of X-Real Intertainment Inc. Ltd., a Bahamian corporation, has been completed. This acquisition makes X-Real Intertainment a wholly owned subsidiary of Downstream and adds six highly profitable online pay entertainment sites to Downstream's business. These sites will soon be converted to Q-Seven's new User Management Software and used to demonstrate the capabilities of the system to potential clients. Q-Seven's web site can be seen at: www.q-seven.com. According to Olaf Cordt, Secretary of Downstream, the new management is currently in the process of restructuring the company's day-to-day operations. This will include the appointment of new financial and legal advisors, as well as several changes in management style in order to make the Company one of the leaders in the market for online entertainment systems. The management of Downstream cautions readers not to place undue reliance on "forward-looking statements," such as "plans to," "is expected to," etc. which speak only as of the date made, when used in this press release, in filings with the SEC, in other public or stockholder communications, or in oral statements made with the approval of an authorized executive officer of the Company. Such statements are based on certain assumptions and expectations which may or may not actually occur and which involve various risks and uncertainties. SOURCE Downstream Incorporated -0- 06/02/99 /CONTACT: Philipp Krienpendorf of Q-Seven Systems, 011-49-2173-330-3630, for Downstream Incorporated/ /Web site: q-seven.com