(PR NEWSWIRE) Virtual Technology to Partner With CNET Auctions; VTC to Sup
Virtual Technology to Partner With CNET Auctions; VTC to Supply Products for
Technology Auction Site
MINNEAPOLIS, May 17 /PRNewswire/ -- Virtual Technology Corporation
(OTC Bulletin Board: VTCO) (http://www.virtual-world.com), a premier
technology reseller, announced an alliance with CNET, Inc. to auction VTC
products via the Internet. Over 300 VTC products ranging from brand name
computers to some of the hottest graphics products, monitors, game
accessories, and peripherals available anywhere will be included in today's
launch of CNET's new technology auction site, (http://auctions.cnet.com). VTC
is one of five exclusive merchants whose products will be featured when the
service opens.
"VTC has quickly become one of the premier e-commerce merchants in the
technology sector. We are pleased to have their quality products and
participation at CNET Auctions," said Kevin McKenzie, Associate Vice President
of Shopping Services at CNET.
Steve Mihm, VP Sales, VTC, said "With our experience in e-commerce, web
sales, and auctions, along with our recently added distribution capabilities,
we are in a unique position to benefit from this alliance. We're pleased to
extend our successful relationship with CNET to a targeted auction arena. It
just makes sense, our customers aren't looking for toasters -- they're looking
for great buys in technology products. This is a great way to increase the
consumers' access to these deals."
The difference between this auction site and Ebay, Onsale, or Ubid, is
that the CNET Auction site is dedicated to technology and is uniquely
integrated with CNET's valuable editorial content. VTC has several exclusive
relationships with manufacturers to provide refurbished and "end of cycle"
products. VTC will offer a number of different products from those of its own
auction site, www.vtcoauctions.com.
About CNET Auctions
CNET Auctions, an online auction service focused purely on technology
products, provides the millions of technology enthusiasts who gather at CNET
each day with the ideal venue for buying and selling computing products. CNET
Auctions will include used, refurbished, surplus, and end-of-line computer
products from the really useful to the completely geeky. CNET Auctions makes
the process of buying or selling technology products simpler, easier, and
better by providing content like product reviews and tools like price
comparison and feature comparison that help people make informed decisions.
CNET, Inc. (Nasdaq: CNET) is at the leading edge of media companies,
producing a branded Internet network and television programming for both
targeted and general audiences. CNET's network serves millions of users each
day. CNET television programming airs on USA Network, the Sci-Fi Channel, and
in national syndication, as well in 40 foreign countries. CNET effectively
owns 40 percent of Snap.com, a search and navigation service for all Internet
users, co-owned by NBC.
About Virtual Technology Corporation
Virtual Technology Corporation (OTC Bulletin Board: VTCO) is a publicly
held Minnesota based company with offices in Minneapolis, MN, incorporated
since February 1996. VTC properties include the rapidly growing online
retailer of computer hardware and software products www.virtualworld.com. The
company's strategy is to become the "premier source for Speed, Power, and
Graphics" through its focus and marketing strategy, depth of market selection,
competitive pricing, and high quality content. Through its GTI subsidiary,
VTC also provides wholesale distribution of technology products. VTC web
sites are: www.virtual-world.com, www.vtcoauctions.com, www.vtechco.com and
www.graphicstech.com.
Statements in this Press Release that are not purely historical are
"forward looking statements" within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended, including statements regarding VTC's expectations,
hopes, beliefs, intentions, or strategies regarding the future generally,
VTC's growth strategy, future sales, and anticipated trends in VTC's business.
All forward looking statements included in this Press Release are based on
information known to VTC on the date hereof, and VTC assumes no obligation to
update any such forward looking statements. It is important to note that
actual results could differ materially from those in such forward looking
statements as a result of a number of factors, most of which are out of the
control of VTC, including, but not limited to, VTC's early stage of
development, its lack of profitability, and cash flows and competition for the
sale of hardware and software products both on and off the internet.
CONTACT: Greg Appelhof, CEO of Virtual Technology Corporation,
612-915-1122, greg.appelhof@vtechco.com; Investor and Public Relations:
Compass Point Group, 619-525-0800, rs@compasspointgroup.com; or Herb Lanzet of
Lanzet, Inc., 212-687-0061, lanzet@aol.com
SOURCE Virtual Technology Corporation
-0- 05/17/99
/CONTACT: Greg Appelhof, CEO of Virtual Technology Corporation,
612-915-1122, greg.appelhof@vtechco.com; Investor and Public Relations:
Compass Point Group, 619-525-0800, rs@compasspointgroup.com; or Herb Lanzet of
Lanzet, Inc., 212-687-0061, lanzet@aol.com/
/Web site: auctions.cnet.com
/Web site: virtual-world.com
/Web site: vtcoauctions.com
/Web site: graphicstech.com
/Web site: vtechco.com
(VTCO CNET)
CO: Virtual Technology Corporation; CNET, Inc.
ST: Minnesota
IN: CPR MLM
SU: JVN
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