NEW YORK, Nov. 11, 2003 (PRIMEZONE) -- a21, Inc. ("a21") (OTCBB:ATWO), a digital business partner for top-tier photographers and image archives, announced today it has signed a Definitive Agreement to acquire SuperStock, Inc. a21 estimates SuperStock (http://www.superstock.com) to be one of the top five US based companies leading the stock image industry.
"After our careful due diligence and negotiation of acceptable terms, a21 is pleased to announce our acquisition of SuperStock is moving forward with the signing of a Definitive Agreement," stated Albert H. Pleus, Chairman of a21. "We look forward to executing our business strategy on the foundation and platform we have in SuperStock, while continuing to explore additional opportunities."
The Definitive Agreement has been approved by the Board of Directors of a21 and the principal shareholders of SuperStock, and follows the Letter of Intent previously signed and announced by the two companies. Closing of the transaction is scheduled to occur within 120 days and is contingent upon acceptable financing terms and other various conditions.
"We have been working closely with the a21 team in recent months and we are motivated and energized by the opportunity ahead of us," stated Kai Chiang, Chief Operating Officer of SuperStock. "This is a new beginning for SuperStock and it heralds a new era of growth and creativity."
About a21
a21 (http://www.a21group.com) is a technology and business service partner for top-tier photographers and image archives. The Company, currently in development stage, plans to facilitate image collection, value-added marketing and promotions, and provide a technology platform to improve image distribution and use.
The statements contained in this Press Release contain certain forward-looking statements, including statements regarding a21, Inc. expectations, intentions, strategies and beliefs regarding the future. All statements contained herein are based upon information available to a21, Inc. management as at the date hereof and actual results may vary based upon future events, both within and without the control of a21, Inc. management.