MARTINSVILLE, Va., April 30, 2004 (PRIMEZONE) -- Sitestar Applied Technologies, the software development unit of Sitestar Corporation (OTCBB:SYTE), today announced that it has entered into an agreement to develop an e-processing system for the Citizens Against Family Violence (CAFV) designed to increase the organization's efficiency and improve client services. CAFV is a non-profit organization that provides crisis intervention services to meet the emotional and physical needs of victims of violence on a 24-hour basis in Southside Virginia.
According to Ben Murdock, Executive Director of the organization, "The goal (of CAFV) is to help as many victims as possible. We process literally thousands of contacts each year. As our caseload has expanded, paperwork and reporting tasks have become an increasing hindrance to our focus. The e-processing system Sitestar is developing will eliminate countless man-hours of administrative work, freeing up our staff to focus on helping victims of abuse and violence. We couldn't be happier with the system Sitestar designed for us and are looking forward to putting it into production very soon."
Thomas N. Albanese, Vice President and manager of Sitestar's SAT division, added, "As with many of the systems we design and build, this one is tailored to the specific needs of the customer. Nevertheless, there are hundreds of similar organizations in the state of Virginia and thousands throughout the country that can benefit from the work we are doing here in Martinsville. An integral design consideration is generalization of basic functions that are extensible, allowing us to offer similar solutions to other organizations that are also overwhelmed by governmental red tape. Being able to help so many people while we grow our company is icing on the cake."
"We estimate the size of the market for this product to be between $25 and $100 million nationally," said Joseph M. Albanese, Sitestar's Executive Vice President and Director of Business Development. He continued, "The pricing structure will be favorable to non-profit organizations, with the majority of the cost of the system paid on a non-recurring basis. Recurring application hosting and maintenance fees will be very affordable and will provide us with a steady vertical revenue stream."
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. Sitestar's main customer base is primarily in the Virginia and North Carolina markets but the company 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).
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.
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