AARO Broadband Wireless To Develop Government Leasing Site; E-Commerce Will Create ``Procurement System of Tomorrow''.Business Editors OKLAHOMA CITY--(BUSINESS WIRE)--Dec. 14, 2000 AARO AARO Association of Americans Resident Overseas AARO Automotive Aftermarket Retailers of Ontario Broadband Wireless See wireless broadband. Communications, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AARW AARW Alliance of American and Russian Women ) and e-Leasing Corporation of Dallas, Texas “Dallas” redirects here. For other uses, see Dallas (disambiguation). The City of Dallas (pronounced [ˈdæl.əs] or [ˈdæl. , announced today an e-commerce contract designed to make it easier to bring government agencies together with primary capital markets. The contract will create GovLease.net, the first Internet site focused on allowing government direct access to the capital lease markets. GovLease.Net will service the federal, state and local governments and private financial institutions with interactive access to the government leasing market. AARO Chief Financial Officer Mike Canfield said the initial contract with e-Leasing is worth more than $175,000 in web design, maintenance and hosting revenue, with recurring annual revenue of $60,000 to $75,000. "GovLease.net will provide comprehensive online competitive bid services significantly reducing the time, effort and cost associated with government lease transactions. GovLease.Net will bring government and the capital markets together in a single on-line marketplace, eliminating the middleman mid·dle·man n. 1. A trader who buys from producers and sells to retailers or consumers. 2. An intermediary; a go-between. ," Canfield said. 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. Dean Chittenden, President of e-Leasing, the government purchasing procedures of today and yesterday are slow, bulky and cumbersome and often lack the financial information needed by bidders. With hardcopy letters and bid requests, the bidding processes currently take weeks or months to complete and waste both human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. and materials in the process. GovLease.net will create the government Internet lease financing system of tomorrow, Chittenden said, bringing government agencies and leasing organizations together in a single, non-partisan electronic bidding process that will benefit government with lower interest rates and much faster response time. "Through GovLease.net, e-Leasing intends to take advantage of the broadband communications capabilities AARO offers in order to enhance service to the public and private sectors. In terms of faster document downloads and more comprehensive, secure leasing transactions, this partnership with AARO will allow e-Leasing to provide unsurpassed service to our government clients," Chittenden said. "For example, a bidder with AARO's high-speed connectivity would be able to download the entire financial statement of the City of Oklahoma City Oklahoma City (1990 pop. 444,719), state capital, and seat of Oklahoma co., central Okla., on the North Canadian River; inc. 1890. The state's largest city, it is an important livestock market, a wholesale, distribution, industrial, and financial center, and a farm in a matter of seconds. The speed and reliability of data are key to our success," Chittenden said. Canfield said AARO expects to have the site up and running by spring 2001. AARO will develop and host the site using content provided by e-Leasing. About AARO AARO Broadband Wireless Communications, Inc. provides wireless connectivity up to 100 Mbps. AARO New World services such as unified communications, IP telephony and videoconferencing services are delivered via a highly secure, carrier-class IP network. For additional news and information, please visit us at aarowireless.com. About e-Leasing Corporation e-Leasing Corporation is committed to providing government with no-cost, high-featured lease services to automate tasks associated with lease bidding and record keeping. e-Leasing has combined great concepts and superior technology, with over 75 years of leasing and public finance experience, to build a strategic partnership with government and the capital markets. e-Leasing offers simple, yet powerful solutions for linking government and capital markets. This document includes forward-looking statements, made under the Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Provision of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements are generally identifiable by the use of words such as "believe," "expect," "intend," and other words of similar nature. These statements are based on management's current expectations, estimates and projections that are subject to risk and uncertainties, including, but not limited to, success of negotiations, availability of financing, political currency and regulatory, competitive and technological developments. Consequently, actual results could differ materially from those forward-looking statements. AARO Broadband Wireless Communications, Inc. does not undertake, and specifically disclaims, any obligations to update forward-looking statements, which speak only as of the date made. |
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