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foodvision.com Authorized Shares 50,000,000 Issued Shares 8,300 000, est. as of March 1999 Float 2,300,000, est. as of March 1999 Exchange NASDAQ OTC BB ATLANTA, Jul 26, 1999 (BUSINESS WIRE via COMTEX) -- Foodvision.com, Inc. (OTC BB:FVSN), formerly Mark 1 Industries, Inc., is very pleased to announce that the company has officially changed its name to Foodvision.com, Inc. and stock symbol to FVSN. These new changes took effect on July 7, 1999. The name and corresponding stock symbol changes were made to more clearly define the company's core focus of becoming the Internet's premiere one-stop Food Portal. Foodvision.com believes that this represents an unparalleled potential for the company as it focuses on a widely popular niche market that has not yet developed any true market leaders. The food industry, according to industry statistics, is the largest industry in the US, accounting for approximately 12% of the Gross Domestic Product. The Internet is also the fastest-growing mass communications medium and Forrester Research predicts that the value of goods bought and sold over the Internet is expected to explode from $43 billion in 1999 to $1.3 trillion in the year 2003. The market potential for Foodvision.com in this arena is staggering. It is true that Foodvision.com's Food Portal is being built from the ground up to cover topics on the entire spectrum of food-related interests-from a master chef 's needs to the Summer barbecue enthusiast, and everything in between-if it's food or beverage related, Foodvision.com will likely cover it. The company has already established the support and infrastructure of a circle of key industry contacts and is rapidly moving forward to position itself is a dynamic Food Portal of Choice -- a Food Portal that will harness the power and unlimited potential of the Internet. Understanding the tremendous potential of this Internet niche market (that has not yet established any true industry leaders) and the company's ability, through its technology, to foster a strong online presence in relation to it, the company has implemented an aggressive program to complete the development of its one-stop Food Portal. Foodvision.com has a dynamic team of prominent web designers and programmers, guided by the leadership of Raj Kalra, the company's Chief Internet Officer. A case in point is that Arthouse Internet Design, one of the most prominent web designers in the United States, has joined the company's team to ensure a successful, expeditious and spectacular launch. ABOUT Foodvision.com Foodvision.com, Inc., is a food-specific Internet information provider and portal company that integrates traditional business systems in food and beverage operations with leading-edge technologies in Internet systems. The linking of substantial expertise in food establishment operations and state-of-the-art Internet business provides the shareholders of Foodvision.com with a solid financial base and the exciting growth potential of Internet stocks. Whether it is restaurant reviews, creating interesting menus, restaurant design, financing, cooking schools, beer, wine -- anything about food or the business of food -- you will find it on Foodvision.com. Foodvision.com, a one-stop Food Portal, will be an easy to use, comprehensive online network of sites and unique-company offerings targeted to the interests and needs of two market sectors -- the general public, interested in all related-food topics, and the food service professional, interested in all food business related issues. Foodvision.com is a transaction-based food portal where the company generates income through override agreements with linked partners, e-commerce income from its proprietary items, and a secondary income stream from advertisers. BULLISH on the FUTURE OF Foodvision.com According to the company's President and CEO, Paul R. Smith: "Foodvision.com's strong business model will allow our company to realize a profitable operation -- built on a solid foundation of our existing traditional-food operations, which are currently generating strong revenues for the company -- while capitalizing on the boundless potential of the Internet via our Food Portal focus. To be sure, Internet companies are usually not synonymous with profitable operations, but Foodvision.com is pleased to be able to forecast both. Customers and investors alike can expect to see many positive news announcements and changes being made to the website in the near future as we lead up to the launch of the most exciting and dynamic Food Portal the Internet has to offer. Foodvision.com plans on becoming the industry leader in this booming field and also having earning the accolade of being the Internet's premier Portal related to the business of food. We know the food business and have established the necessary infrastructure and vision to accomplish such prominence. It is truly in our reach." Foodvision.com can be found at foodvision.com. More information can be found on the company's web site at foodvision.com. For Investor Relations information please contact at 800/290-8935 or 716/256-8035. CONTACT: Foodvision.com, Inc. Steve Flemming, 800/290-8935, 716/256-8035 Date Incorporated April 4, 1989 State Delaware Officers Paul R. Smith. President & CEO Raj Kalra, Chief Operating Officer & CIO Robert Mottern, Secretary Directors Paul R. Smith Raj Kalra Dr. Charles Sheehan | ||||||||||||||
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