Fantasy Sports, Inc. Launches Online Retail Store; Retail Initiative to Offer Full Line of NASCAR Related Products to Company's Customer Base.Business & Sports Editors YORK, Pa.--(BUSINESS WIRE)--June 19, 2001 Fantasy Sports, Inc., a leading subscription based fantasy sports company, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Silverstar Holdings, Ltd. (Nasdaq:SSTR SSTR Somatostatin Receptor SSTR Stability, Security, Transition, and Reconstruction SSTR Solid State Track Recorder SSTR Small Business Technology Transfer Program SSTR Senior Staff Technical Representative ), today announced the official launch of its new retail initiative. The company has opened an outlet store An outlet store or factory outlet is a retail store in which manufacturers sell their stock directly to the public through their own branded stores. The stores can be can be brick and mortar or online. in York, Pennsylvania and has launched an online store that can be accessed from its homepage, http://www.fantasycup.com. Both the online and outlet stores will initially offer over 400 different NASCAR NASCAR (National Association for Stock Car Auto Racing), organization that sanctions American stock-car races, est. 1948. It held its first race in Daytona Beach, Fla. products such as die-cast cars, clothing, games, and other related goods. "We are pleased to have simultaneously launched our retail initiative both in the e-commerce and bricks and mortar A store (shop, supermarket, department store, etc.) in the real world. Contrast with clicks and mortar. environment. We believe that we will offer a value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. service to our over 30,000 subscribers and the general retail public. The stores offer great products at excellent values and we are confident that they will meet with an extremely positive consumer response," said Greg Liegey, 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 Fantasy Sports. "This is a further step in our evolution to provide excellent value to our customers in all of our efforts. We anticipate that our retail offerings will expand into other sports related products as well as services such as travel, event tickets, etc. This is an excellent additional revenue stream for Fantasy Sports and with our low cost structure, should benefit our bottom line immediately," continued Mr. Liegey. About Fantasy Sports Fantasy Sports, Inc., founded in 1993, is one of the oldest and largest providers of predominantly fee-based fantasy sports games, accessible through their website at http://www.fantasycup.com. The company runs highly successful first half of the season, second half of the season and individual NASCAR race challenges, as well as a College Football full season challenge and a College Basketball Tournament challenge. Fantasy Sports' subscription based games also provide easy access for free play through the US mail. About Silverstar Holdings, Ltd. Silverstar Holdings Ltd. (Nasdaq:SSTR) 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. , focusing on investing in businesses that stand to benefit from the economies of scale generated by Internet and other technology related platforms. It currently owns Fantasy Sports, Inc., a dominant provider of fee based NASCAR related and other fantasy sports games; as well as a 33% fully diluted stake in Magnolia Broadband, Inc., a company developing broadband wireless applications. |
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