To: David Sirk who wrote (1944 ) 5/18/1999 9:20:00 AM From: garyb Read Replies (1) | Respond to of 4828
David, Great News out on CLVE, Aquisitions mean revenues will be way up! Tuesday May 18, 8:31 am Eastern Time Company Press Release ClassicVision Announces Letters of Intent for Acquisition of Three Web Sites and One Portal Site SAN DIEGO--(BUSINESS WIRE)--May 18, 1999--ClassicVision Entertainment Inc. (OTCBB:CLVE - news) President, Stephen Nemergut, announced today that the company has entered into formal agreements to purchase Tradercents.com, a financial Web site that currently draws over three million hits per month. It offers a broad base of financial links, stock forums, live chat, as well as such things as market data, free e-mail, online shopping and many other interesting and unique features. This site caters to investors of all calibers and was established and designed with ease of use and practical formats in mind. Currently net revenues for this site are in six figures with hits counts and net revenues expected to rise. ClassicVision also announced that it will be acquiring an online gallery site that features work shown throughout North America and Europe from world renowned artists. The art has generated millions of dollars in revenue through shows and private sales. ''By putting the pieces online, the audience, exposure, and sales of the art should give ClassicVision higher revenues and increased net earnings,'' said Nemergut. ClassicVision also announced that it is in the final stages of an agreement to purchase ownership of a top online sports site. This site offers online gaming, Vegas odds, sports stats, trivia, records, betting pools and interactive discussions with professional athletes. Nemergut stated, ''With the acquisition of these three sites and Rocket Inc., which was announced on May 11th, ClassicVision will have a strong foothold in the Internet arena with an opportunity to expand into this evolving growth industry. These acquisitions offer a multi-functional base to aggressively participate in the Internet market through online selling, gaming and advertising sales. The acquisition of the portal site will facilitate all these endeavors.'' It is anticipated that the formal announcement of the acquisition of Tradercents.com will be made very shortly. Anticipated completion dates on the other sites will be announced subsequently. ClassicVision Entertainment Inc. is quoted on the OTC Bulletin Board as ''CLVE.'' For further information, please contact Stephen Nemergut, president, at 619/259-1159.