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Wednesday May 12, 8:00 am Eastern Time
Company Press Release
Intasys Forms Internet/E-Commerce Investment
Two New Directors Appointed
TORONTO--(BUSINESS WIRE)--May 12, 1999--Stephen J. Roth, Chairman and Chief Executive Officer of Intasys Corporation (the
''Company'') (Nasdaq:INTA - news), announced the formation of a new subsidiary, Intasys Capital Corporation (''ICC''), a Delaware
corporation. Through ICC, Intasys will leverage its strong technical expertise and capital base to evaluate investment, joint venture and
acquisition opportunities in technologies and companies engaged entirely in Internet and e-commerce activities.
ICC will concentrate primarily on software applications that have a direct synergy and strategic fit with, and expand upon, the Company's
core competency of billing, customer care and subscriber management software solutions. As corporate policy, ICC will make
investments in portfolio-type technology companies that could eventually be spun off as public corporations or possibly sold as private
entities.
ICC will serve, among other things, to expand the Company's product line in its telecommunications software and e-commerce
operations, and also provide the ability to integrate new products to be sold though the Company's international sales and marketing
network. Further, the formation of Intasys Capital Corporation follows the recently announced formation of another subsidiary, Intasys
e-Comm Solutions, Inc., a Georgia corporation that will develop and market billing and customer care software solutions for businesses
engaging in e-commerce transactions over the Internet.
Initial financing for ICC will be provided by a portion of the proceeds of the equity private placement of 1,000,000 units at US $4.75 per
unit that was announced on May 4, 1999.
Separately, Intasys announced the appointment of Claude Beauregard and Steve Saviuk, both of Montreal, Quebec, to the Board of
Directors of the Company, effective immediately. Mr. Beauregard and Mr. Saviuk have also been added to the list of proposed directors
to be elected at the Annual and Special Meeting of Shareholders scheduled to be held in Toronto, Ontario on June 30, 1999. Mr.
Beauregard and Mr. Saviuk will head the ICC management team, with the former serving as President, Chief Executive Officer and a
director, and the latter serving as Executive Vice-President and a director.
Claude Beauregard, age 44, holds a degree in electrical engineering and has over 20 years experience in the telecommunications industry
at the technical, sales and marketing levels. In the early part of his career, Mr. Beauregard worked for such industry leaders as Nortel
Networks Corp. (formerly Northern Telecom), where he served as director of marketing for its network access division.
In the past ten years Mr. Beauregard has specialized in the planning, creation and development of new entrants into the
telecommunications arena, the last seven years of which have been devoted to helping build start-up companies for Telesystems Inc., a
corporation headed by industry giant, Charles Sirois. During this time he was involved in the preparation of the successful application by
Microcell Telecommunications Inc. for a national wireless telephone license in Canada. He was subsequently part of the team responsible
for the deployment of the infrastructure of their national network. Likewise, Mr. Beauregard was the driving force behind efforts by Look
Communications Inc. to obtain wireless cable licenses in Ontario and Quebec. He later became Chief Technical Officer in the design,
selection and implementation of these networks. Moreover, Mr. Beauregard served as co-founder and chairman of Spectra Telecom Inc.,
a joint venture between Charles Sirois' Telesystem Group and one of the world's largest engineering firms, SNC-Lavalin. Spectra
Telecom Inc. specializes in the deployment of Personal Communication Systems (PCS) networks around the world.
Steve Saviuk, age 40, is a chartered accountant (CA or CPA in US terms) who formerly practiced with KPMG. He has spent the past 12
years as a successful venture capitalist specializing in the strategic planning, management and financing of telecommunications and
software companies. In 1998, on behalf of NSI Communications Inc. (''NSI''), a leading provider of satellite transmission equipment,
Mr. Saviuk was instrumental in negotiating the acquisition and arranging the Cdn. $15 million financing of the Satellite Global Access
division of Spar Aerospace Limited. As well, he provided the initial financing and strategic planning for Wavesat Telecom Inc.
(''Wavesat''), a global provider of amplifiers to the satellite, cellular and PCS markets. Mr. Saviuk remains a board member of NSI and
Wavesat, as well as other telecommunications and software companies.
Mr. Roth commented: ''We are gratified to welcome Messrs. Saviuk and Beauregard to the Board of Intasys. Their hands-on knowledge
of the telecommunications industry, and particularly of the latest applications of state-of-the-art Internet and e-commerce technology to
this industry, will contribute enormously to Intasys' growth. Under their management, we look forward to Intasys Capital Corporation
becoming a highly profitable addition to Intasys, as well as providing new markets and clients for our core billing and customer care
products.''
About Intasys
Intasys Corporation, offices in Toronto, Atlanta, Ottawa, London, Edinburgh, Sydney and Kiev, is an emerging global force in the
subscriber management industry. The company provides convergent customer care and billing solutions on a bureau and license basis to
clients in the wireless and wireline telephony, cable TV, Internet, and energy industries. Its state-of-the-art, Year 2000 compliant systems
provide complete, convergent subscriber management and billing functionality with full Internet integration. Further information on the
company, its products and services is available at this address: 2475 Skymark Ave., Suite 4, Mississauga, Ontario, Canada, L4W 4Y6,
or on the Internet at www.intasys.com.
Statements contained in this press release which are not historical facts are forward-looking statements as that term is defined in the
Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties that can cause
actual results to differ materially from estimated results. Such risks and uncertainties are detailed in the Company's filings with the
Securities and Exchange Commission. Any and all statements made regarding Year 2000 are hereby designated by Intasys as ''Year 2000
Readiness Disclosure'' pursuant to the Year 2000 Information and Readiness Disclosure Act.
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