Satyam Infoway Launches www.teawebex.com.Business Editors/High-Tech Writers CHENNAI, India--(BUSINESS WIRE)--October 30, 2000 Satyam Infoway Ltd. (Nasdaq:SIFY), India's premier Internet and eCommerce solutions provider, today announced the launch of www.teawebex.com, a comprehensive site for online information about Indian tea and tea auctions in India. The portal is the first site to offer digital catalogues with valuation and last sold price of tea, news and market reports, and tea related information to buyers, brokers and tea sellers. 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. Mr. Ram Mohan Ram Mohan is the Vice President of Business Operations and Chief Technology Officer at Afilias Limited. Afilias, based in Ireland with offices in the US, Canada, India, UK and Germany, is the registry operator for the .info and . , President, B2B E-Commerce (Business to Business Electronic-COMMERCE) Refers to one business selling to another business via the Web. See e-commerce. , of Satyam Infoway Ltd "Part of a series of vertical industry marketplaces promoted by Satyam Infoway Ltd., Teawebex.com offers a comprehensive information base covering all aspects of tea auctions; auction catalogues, transaction prices and quantities, buyer / seller details and finally culminating in reports and statements for use by brokers, buyers and sellers of tea. Teawebex.com is a powerful information provider and a facilitator of tea auctions in various centres, initially in South India South India is a commonly used term that is used in India to refer to the South-of-India or Southern India. The Southern part of the Indian peninsula is a linguistic-cultural region of India that comprises the four states of Andhra Pradesh, Karnataka, Kerala and Tamil Nadu and the and subsequently at locations in Eastern and North Eastern India. Teawebex.com provides practically up to the minute auction information to the entire tea trading community in India, and makes the transaction process simple, efficient and well informed. Our goal is to enable, rather than conduct, tea auctions ourselves." The portal, conceptualised by Mr. Winfred Paul, who was the Chairman of the Tea Trade Association of Cochin, in addition to various other posts in the Tea Industry, is being deployed in a phased manner. The first phase will cover South India to cover Cochin, Coimbatore and Coonoor. This will be followed by Phase II, which will cover the East and North India Introduction Northern India is a geographic and linguistic-cultural region of India which approximately corresponds to the northern region of the Indian subcontinent. , and finally Phase III Noun 1. phase III - a large clinical trial of a treatment or drug that in phase I and phase II has been shown to be efficacious with tolerable side effects; after successful conclusion of these clinical trials it will receive formal approval from the FDA offering global reach. As per the Tea Marketing Control order issued by the Tea Board, 75% of the total production of tea in India has to be sold through auctions. The auctions in each centre are done by `Open Cry,' controlled by the respective Tea trade Associations, consisting of sellers, brokers and buyers. This method results in delay in availability of sale information, and no archival auction data, valuation or last sold price is available. Teawebex.com addresses this drawback DRAWBACK, com. law. An allowance made by the government to merchants on the reexportation of certain imported goods liable to duties, which, in some cases, consists of the whole; in others, of a part of the duties which had been paid upon the importation. and offers a sales catalogue with valuation and last sold rate. It also has a purchase listing, sale listing, comparative listing and top ten sale listing at the click of a button. In addition, a discussion forum providing multiple participation views will form part of the portal. In the future, Teawebex.com plans to offer an array of additional modules and application services See ASP and Web services. (ASPs), including supply chain management, direct material purchase and on-line project modules. It will also offer enhanced value services such as online bidding and online payment using P-Card, and on-line logistical lo·gis·tic also lo·gis·ti·cal adj. 1. Of or relating to symbolic logic. 2. Of or relating to logistics. [Medieval Latin logisticus, of calculation support. About SIFY Satyam Infoway is the largest private national provider of Internet access See how to access the Internet. and Internet services to consumers and businesses in India. As of September 30, 2000, Satyam Infoway had more than 320,000 consumer Internet subscribers. The Company's network presently serves 46 locations, covering more than 220 cities throughout India. The products of Satyam Infoway include consumer Internet access services, on-line portal and content offerings and corporate network and technology services. Satyam Infoway has the distinction of being the first ISP (1) See in-system programmable. (2) (Internet Service Provider) An organization that provides access to the Internet. Connection to the user is provided via dial-up, ISDN, cable, DSL and T1/T3 lines. in India to be awarded the ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9002 for customer satisfaction. As of end September 2000, over 550 corporations use Satyam Infoway's business-to-business products and services. UUNet Technologies, Sterling Commerce and Open Market are some of Satyam Infoway's strategic partners. Satyam Infoway's portal www.Sify.com registered an aggregate of approximately 105 million page views in September 2000. This Press Release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of Section 27-A of the Securities Act of 1933, as amended, and Section 21 E of the Securities Exchange Act of 1934, as amended. The forward looking statements contained in the press release include, but are not limited to, comments regarding the prospect for further growth in the Company's business or its ability to capitalise on the new initiatives described herein. The forward looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from those reflected in the forward looking statements -- Satyam Infoway undertakes no duty to update any forward-looking statements. For a discussion of the risks associated with Satyam Infoway's business, please see the discussion under the caption "Risks related to Business" in Satyam Infoway's Report on Form 6-K for the Quarter ended June 30, 2000 which has been filed with the Securities and Exchange Commission and the other Reports it files with the SEC from time to time. These filings are available at www.sec.gov. |
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