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Technology Stocks : Storage One...SOJ on Alberta -- Ignore unavailable to you. Want to Upgrade?

To: Tom Cat who wrote (358)	6/11/1999 8:26:00 AM
From: Skipper	Read Replies (1) \| Respond to of 394

EcomPark Inc. FOR IMMEDIATE RELEASE EcomPark - Canada's Brand for E-Commerce Development TORONTO, ONTARIO, June 10, 1999 ... EcomPark Inc. (formerly Storage One Inc.) ("EcomPark") (ASE:EKP, EKP.WT, formerly SOJ) Today marks the launch of EcomPark Inc. ("EcomPark"). Unique to the Canadian marketplace, EcomPark capitalizes upon the New World economy by investing in and developing internet and digital companies that are in the nascent stages of defining the emerging e-tailing landscape. John A. McMahon, Chairman of EcomPark states: "The proliferation of internet, web and e-commerce businesses is a direct co-relation to this shift to the New World economy. Every organization, in every industry sector, will look to digital solutions to penetrate new markets, build revenue, reduce costs, and construct a better and lower cost path between their business and the customers they covet." More than just a financial partner, EcomPark provides the venture capital, creative resources and technical expertise required to guide internet companies through each step of the business lifecycle. From business plan preparation to IPO advisory services, EcomPark is a fully integrated internet company "incubator". The first phase in the "incubation" process typically consists of a financial commitment from EcomPark in exchange for an equity stake of up to 40% of the partner company. By taking a meaningful position in the start-up, EcomPark brings substantial financial and intellectual capital to the project, ensuring that resources will be directed towards creating a successful venture. At the core of the EcomPark business is a 75 person team involved in website development and internet media asset creation. Both wholly-owned subsidiaries of EcomPark, Generation-Net Services Inc. ("Gen-Net") and Rollercoaster Studios Inc. ("Rollercoaster") offer the entrepreneur access to web development services and back-end e-commerce solutions. With over 150 completed projects between the two firms, Gen-Net and Rollercoaster are amongst the most experienced and technically sophisticated web development solution providers in the world. The EcomPark business model is unique to the e-commerce entrepreneur. In addition to the dedicated EcomPark resources, the partner organizations can also benefit from being members of the 'Park'. Mr. McMahon adds "Value creation is not a catchphrase at EcomPark - it is the foundation upon which the business was established. At EcomPark we are fostering an environment where the companies that we partner with will have the opportunity, but not the obligation, to leverage off of each other's strengths through joint ventures, co-marketing agreements, idea sharing and directorships. EcomPark will not only create value within these companies, but will also assist them in forming important and invaluable connections between one another." McMahon continues "Forging alliances like this leverages opportunities in Canada, where internet business development lags behind that of the U.S. This leveraging of resources and experience will enable our partner companies get to market quicker, with better intelligence and preparation." Although there are different metrics used for measurement, it is generally regarded that internet business development in Canada trails that of the United States by 12-18 months. This lag provides EcomPark with a road map from which to capitalize upon the experience the U.S. internet marketplace. The EcomPark Edge - Deal Flow EcomPark's greatest competitive advantage lies in its deal flow. Through its vast relationship network EcomPark has unrivaled access to potential e-businesses and consequently has developed expertise at identifying which companies have the greatest market potential. Once EcomPark identifies these businesses, it is able to tailor its service offerings to best aid the partner company. "Our deal flow has equipped us with the skills required to recognize ideas with traction. Identifying and developing ideas that have a better chance to come to be leaders in the marketplace will distinguish EcomPark from venture capitalists and web development firms." says McMahon. "We believe that the critical success factors in this medium are establishing or re-purposing a "brand" and rapid site deployment. Once we identify the best business opportunities and management teams our efforts are aligned to ensure that the partner company is focused on establishing their brand, and racing to get to market for first mover advantage." EcomPark - Getting to the Future First EcomPark will strive to grow its business thorough geographic expansion and increased product offerings. As the internet matures, EcomPark will devote more resources to the development of its own media assets and content for the web in an attempt to ensure that its New Economy partner companies arrive to the future first. For further information contact: John A. McMahon, Chairman EcomPark Inc. c/o Suite 3100, P.O. Box 830 BCE Place, 181 Bay Street Toronto, ON M5J 2T3 Telephone: (416) 216-0822