24/7 Media and Fleet Announce $32 Million Marketing Agreement.NEW YORK--(BUSINESS WIRE)--May 11, 1999-- 24/7 Media, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : TFSM), one of the largest Internet media companies, today announced that it signed a multi-year strategic agreement with Fleet Credit Card Services The software support for PC Cards. PC Card applications talk to Card Services. See PC Card. to market Fleet Visa and MasterCard brand credit cards across The 24/7 Network. Based on the success of the program, the agreement has the potential to generate up to $32 million over the course of the agreement for 24/7 Media, and a significant number of new credit card relationships for Fleet. Today's announced agreement is the first of what is expected to be a multi-dimensional marketing relationship. Fleet will soon begin its initial phase including a targeted banner campaign across The 24/7 Network, which reaches more than half of the online users in the U.S. according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Media Metrix. Fleet's relationship with 24/7 Media gives Fleet access to one of the largest online audiences, and the opportunity to generate a significant number of new credit card accounts. 24/7 Media and Fleet are currently defining subsequent, incremental phases which may include credit cards co-branded with Web sites in The 24/7 Network and direct email. "24/7's proposition is compelling - tremendous reach combined with database-driven targeting," said Joseph W. Saunders, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Fleet Credit Card Services. "Plus, 24/7 Media can sell unique co-branding programs to its portfolio of name-brand Web site affiliates. This agreement also strongly supports our commitment to diversify our distribution strategies." "The Fleet agreement represents online marketing at its best-innovative program development designed to achieve well-defined goals," said David J. Moore, CEO of 24/7 Media. "We are excited to work with a market leader and look forward to jointly achieving Fleet's goals." "This agreement is clearly a triumph for everyone involved," stated Joe Apprendi, senior vice president, strategic sales at 24/7 Media. "Fleet now has access to one of the largest online audiences, we now have a terrific name-brand client with whom we can develop long-term programs, and our affiliate Web sites have the opportunity to generate substantial revenues from a new source." About Fleet Financial Group Fleet Credit Card Services, based in Horsham, Pennsylvania, is the nation's eighth largest bankcard issuer. Part of Fleet Financial Group, Fleet Credit Card Services has more than $14 billion in managed receivables and more than eight million credit card customers. Fleet Financial Group, headquartered in Boston and listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. (NYSE NYSE See: New York Stock Exchange : FLT FLT Fault FLT Flight FLT Flat FLT Filter FLT Fleet FLT Fermat's Last Theorem FLT Fairlight (software cracking group) FLT Float/Floating FLT Fairfield Language Technologies FLT Fork Lift Truck FLT First Lieutenant ), is a diversified financial services company with $106.2 billion in assets and $86 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. . Fleet is the nation's sixth largest commercial lender and New England's leading small business lender. Fleet's products and services include consumer banking, government banking, mortgage banking, private banking, corporate finance, commercial real estate lending, credit cards, insurance services, cash management, capital markets, equipment leading and asset-based lending Asset-Based Lending A business loan secured by collateral (assets). The loan, or line of credit, is secured by inventory, accounts receivable and/or other balance-sheet assets. Also known as "commercial finance" or "asset-based financing". . Fleet also provides a wide array of investment management services for both individuals and institutional clients and operates the nation's third largest discount brokerage firm discount brokerage firm A brokerage firm that discounts commissions for individuals to trade securities. Most discount brokerage firms offer limited advice but reduce their fees by 50% or more compared with full-service brokerage firms. through its Quick & Reilly, Inc. subsidiary. With nearly 1,200 branches and more than 2,400 ATMs, Fleet also provides 24-hour telephone banking as well as on-line banking services through the Internet and through its PC banking software for individuals and businesses. About 24/7 Media, Inc. Reaching more than half of all online users in the U.S., 24/7 Media, Inc. is one of the largest Internet media companies. Through its global online advertising and direct marketing networks, 24/7 Media provides a full suite of online media sales services to advertisers and Web publishers. Through its flagship networks, 24/7 Media represents more than 1.4 billion ad impressions per month on more than 250 high-profile sites covering more than 20 countries. 24/7 Media also owns and operates 24/7 Profilz, the first online co-op database of Web user profiles used to deliver targeted online banner and email campaigns. Based in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , 24/7 Media, Inc. is a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. (NASDAQ: TFSM) with offices in 28 cities in 15 countries. For more information please visit www.247media.com. |
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