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ClearWorks.net Acquires UCG; Acquisition Will Expand ClearWorks.net's World Wide Web Expertise.


Business Editors/High-Tech Writers

HOUSTON--(BUSINESS WIRE)--Jan. 6, 2000

ClearWorks.net (OTCBB OTCBB

See OTC Bulletin Board (OTCBB).
:CLWK), a fully reporting company, announced today that it has acquired United Computing Group Inc. and United Consulting Group Inc. (Collectively UCG UCG United Church of God
UCG Underground Coal Gasification
UCG University College Galway
UCG Unified Communications Group (Microsoft)
UCG Universal Command Guide for Operating Systems (Guy Lotgering book) 
), both Texas corporations, in an all-stock transaction. Under the terms of the agreement, UCG will become wholly owned subsidiaries of ClearWorks Integration Services Inc.

ClearWorks.net is one of the nation's leading providers of Fiber To The Home (FTTH (Fiber To The Home) See FTTP. ) for the delivery of Bundled Digital Services(SM) which will include high speed Internet connectivity, dial-tone, digital multi-channel video, on-demand video rental and other digital services.

UCG is positioning itself to be on the forefront of bringing companies to the World Wide Web through Internet consulting, design, and implementation (typically known in the technology industry as an accelerator company). Accelerator companies such as Scient Corp. (NasdaqNM:SCNT Noun 1. SCNT - moving a cell nucleus and its genetic material from one cell to another
nuclear transplantation, somatic cell nuclear transfer, somatic cell nuclear transplantation

biological research - scientific research conducted by biologists
), Viant Corp. (NasdaqNM:VIAN), and Agency.Com LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability  (NasdaqNM:ACOM (language) ACOM - An early system on the IBM 705.

[Listed in CACM 2(5):16 (May 1959)].
) have been valued as much as 63 times current revenues.

UCG revenues for 1999 were approximately $10 million and revenues for 2000 are projected to reach $15 - 20 million as it increases its presence as an accelerator company. UCG maintains solid partnerships and authorizations with technology companies such as: Microsoft Certified Solutions Partner, Novell Gold, Cisco Reseller Partner, 3Com Networking Partner, Citrix Service and Sales Authorized and WYSE WYSE Worldwide Youth in Science and Engineering  Winterm Authorized. ClearWorks.net can now utilize these partnerships and authorizations that exist with UCG for its current and future customer base.

"To successfully implement our business plan, we have targeted specific acquisitions that will meet the growth needs to become a nationwide telecommunications company. The acquisition of UCG is an integral part of the rapid growth strategy of ClearWorks.net and will allow UCG to integrate our Bundled Digital Services as part of the services it provides. Our desire is to redefine how technology is delivered to consumers and be the standard by which all others are measured," stated Michael T. McClere, 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 ClearWorks.net.

ClearWorks.net will continue to pursue additional acquisitions that will strengthen the company's vision of nationwide telecommunications expansion. With the filing of the company's 1999 Form 10-KSB, scheduled to be completed during the first quarter of 2000, ClearWorks.net will move forward with the necessary filing and application for listing on the Nasdaq Smallcap Market.

For more information about ClearWorks.net, please visit the company's web site at http://www.clearworks.net.

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.
 Statement Under 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: The above statements in regard to ClearWorks.net Inc. which are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including ClearWorks.net Inc.'s beliefs, expectation, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and are based on information available to the parties as of such date. It is important to note that actual outcome and the actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as technological, legislative, corporate and marketplace changes.
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2000, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1USA
Date:Jan 6, 2000
Words:516
Previous Article:Canon Catches a Whole New Wave of Internet Surfers.
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