MONTREAL, Feb. 2, 2005 (PRIMEZONE) -- A.G. Media Group, Inc. (Pink Sheets:AMGJ) announced today that it has acquired the assets of PrayerMail.com from Atlanta-based Platinum Investment Capital. The asset purchase includes all PrayerMail-related Web Domains, the PrayerMail.com Registered Trademark and PrayerMail.com branded store.
"PrayerMail.com is well-positioned to serve as a primary or alternative e-mail account for persons of faith, prayer groups, churches, and others, focused on propagating the concept of prayer world-wide and the PrayerMail.com is a timely addition to the A.G. Media Group asset base," stated Pierre Redding, A.G. Media Group President. He added, "Millions of e-mails containing faith-based content are exchanged daily. PrayerMail.com will provide users with a centralized e-mail account and community in which to send and store all of their e-mails of this nature."
The PrayerMail.com e-mail service is currently accessible at http://www.prayermail.com, however, A.G. Media plans to relaunch the service later in 2005 in a new, more robust offering to include additional community components and features. "As prayer is an integral part of most religious activity, our goal is to build PrayerMail.com into the leading online community and resource to allow users to establish virtual prayer groups, send and manage prayer requests on a mass email scale, interact with like-minded users across the globe and purchase faith based merchandise through a central portal," Mr. Redding further commented.
Following a successful development and re-launch of PrayerMail.com, the Company's initial target is to sign-up 500,000 registered users within 24 months, representing potential gross revenue of approximately U.S. $3 million per year. The business model is expected to consist of advertising, user fees for premium services and product sales.
The market potential is large. According to a study published by the Pew Internet and American Life Project in April 2004, 38% of the 128 million Internet users have sent and received e-mail containing spiritual content and 64% of the nation's 128 million Internet users have done things online that relate to religious or spiritual matters.
A.G. Media continues to acquire faith-based properties as part of its ongoing plan to increase its audience and to maintain and grow its leadership position in the Christian Internet space.
About A.G. Media Group, Inc.
A.G. Media Group (http://www.agmediagrp.com) was established to become a leading Christian media holding company comprising Christian-based Internet, print and television related content properties and technology development services. A.G. Media is also focused on the development of valuable, high demand content for distribution through multiple media outlets and through its continually growing audience base.
About PrayerMail.com
PrayerMail.com (http://www.prayermail.com), the second acquisition of A.G. Media Group, is a web based e-mail service designed to offer the millions of religious users a centralized e-mail account to accommodate all of their faith-based e-mail content as well as display their belief. In its current format, the PrayerMail e-mail product is offered in three service levels: the basic free ad supported service provides 25MB of storage, the paid "Mail Plus Total Protection" and the "Mail Plus Total Protection 1GB" both provide ad-free e-mail with advanced spam fighting features and IMAP POP, SMTP and SSl support and the ability to send and receive attachments up to 25MB in size.
About Pew Internet and American Life Project
The Pew Internet & American Life Project (http://www.pewinternet.org) is a non-profit, non-partisan organization funded by the Pew Charitable Trusts to assess the social impact of the internet.
Safe Harbor Statement
All statements other than statements of historical fact included in this press release are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated.