LYNCHBURG, Va., Nov. 23, 2004 (PRIMEZONE) -- Sitestar Corporation (OTCBB:SYTE), a publicly traded Internet Service Provider (ISP) and computer services company, announced today that it has entered into an agreement with Exchange Computers and Exis.Net, Inc., a local computer repair center and Internet Service Provider (ISP) in Virginia Beach, Virginia. The arrangement consists of acquiring the dial-up Internet customer base and most of the related assets of both companies.
"Sitestar will bring our customers many services that we weren't providing, such as broadband dial-up access via SurfBoost(TM), national dial-up coverage, more payment options and enhanced technical support hours," said Exis.Net President, Steve Haynes. "Sitestar has agreed to keep our staff, our name and our Virginia Beach office open so our customers will continue to receive the high quality technical support that they are used to."
"We are excited to welcome Exis.Net and its customers into our family," said Frank R. Erhartic, Jr., CEO of Sitestar. "We feel that Exis.Net has a great reputation in the area for friendly technical support and fast, reliable service. This is an important criterion for companies we partner with, as it fits well into our company's core values and operating philosophy."
"This agreement will add additional revenues for our company with approximately 1,700 new customers and is consistent with the acquisition facet of our growth strategy," adds Erhartic. "It will also open us up to a huge market that we can better market to and introduce more products."
Forward-looking statements
This report contains certain 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. Stockholders are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, our ability to expand our customer base, make strategic acquisitions, general market conditions, and competition and pricing. Although we believe the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements contained in the report will prove to be accurate.
About Sitestar Corporation
Sitestar Corporation is a mid-Atlantic Internet Service Provider (ISP) and computer services company offering a broad range of services to business and residential customers. It is a publicly traded company on the Over-The-Counter Stock Exchange under the symbol SYTE. Sitestar's main customer base is primarily in the Virginia and North Carolina markets but also sells most of its services nationwide. Sitestar's wholly owned subsidiaries provide narrow and broadband Internet access, Web-hosting and design services, computer sales and repair and other technology-related solutions to its residential and business customers.
Sitestar's wholly owned subsidiaries include Sitestar.net (http://www.sitestar.net), Sitestar Applied Technologies (http://www.sitestarapplied.net), SurfWithUs.Net (http://www.surfwithus.net), Lynchburg.net (http://www.lynchburg.net), Advanced Internet Services (http://www.advi.net), Computers by Design (http://www.computersbydesign.com) and CBD Toner Recharge (http://www.recharge.net).
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