LYNCHBURG, Va., Jan. 25, 2003 (PRIMEZONE)-- Sitestar Corporation (OTCBB:SYTE) announced today that it has entered into an agreement with Digital Data Connections, a local Internet competitor in Martinsville, Va. The arrangement consists of acquiring the Internet customer base and most of the Internet related assets of Digital Data Connections.
The founder and former owner of Digital Data Connections, E. L. James, will continue to operate a computer and network consulting business in a non-competitive manner and become an agent selling Sitestar.net Internet Services.
"This move frees us up to focus on our core computer networking business and provide our Internet customers the enhanced services offered by Sitestar," said James. "Our customers will still be able to come to us for any computer support they need and new customers will be able to come to us to sign up for Internet service. The services, like nationwide local access and DSL, would have taken us too long to provide. It is a win-win situation for us all. When the best customer service, support and enhanced internet services come together everyone's a winner."
"We are pleased to make this announcement," reported Frank Erhartic Jr., newly appointed President and CEO of Sitestar Corporation. "Digital Data Connections is close in proximity to our Martinsville-based Sitestar.net operation and its customer base will fit in nicely with our current operation. We will receive the additional revenue for our company while taking advantage of the surplus capacity we already have. We look forward to working with Mr. James to build both of our businesses together."
About Sitestar
Sitestar is a publicly held company that invests in emerging technology-based enterprises. Its primary focus is rural and secondary markets of the mid-Atlantic region of the United States. Sitestar's wholly owned subsidiaries provide narrow and broadband Internet access, electronic infrastructure development, Web-hosting and design services, computer sales and repair and other technology-related solutions to residential and business users.
Sitestar's wholly owned subsidiaries include Sitestar.net (http://www.sitestar.net), Sitestar Applied Technologies (http://www.sitestarapplied.net), Lynchburg.net (http://www.lynchburg.net), Computers by Design (http://www.computersbydesign.com), CBD Toner Recharge (http://www.recharge.net) and Advanced Internet Services (http://www.advi.net).
Statements regarding financial matters in this news release other than historical facts are ``forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the company's future expectations, including future revenues and earnings, the anticipated stock dividends and all other forward-looking statements, be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results.
More information on this company can be found on eWorldWire's Online Newsroom at:
HTML: http://www.eworldwire.com/wr/012503/sitestar.htm
ONLINE NEWSROOM: http://www.eworldwire.com/profile/sitestar.htm