Xethos Group, Inc. Targets Voice and Video Messaging Plus On-Line Games Markets Through Acquisition of Snowstorm Development Limited.Business Editors SOUTHAMPTON, ENGLAND--(BUSINESS WIRE)--June 8, 2000 Xethos Group, Inc. (OTC/BB:GARD; www.xethos.com), the European-based company specializing in products and services for use principally in e-commerce applications, today announced that it has acquired Snowstorm Development Limited, the UK-based developer of communications software (communications, software) communications software - Application programs, operating system components, and probably firmware, forming part of a communication system. These different software components might be classified according to the functions within the Open Systems for use in voice and video mail, teleconferencing and on-line computer games applications. This latest acquisition is in line with Xethos' strategy of linking its secure Xethos Card payment system, based on ATTM ATTM At This Time ATTM Ammonium tetrathiomolybdate ATTM AT&T Mobile ATTM Alt.toys.transformers.moderated (newsgroup) ATTM American Telephone and Telegraph Microelectronics technology, with other complementary technologies that facilitate and enhance the use of e-commerce and telecommunications. Snowstorm's principal products currently include V-Mail, which enables users to send voice and video mail messages quickly and easily via the Internet, and GameTalk, whose voice capability exploits the burgeoning Internet games market by enabling players to talk to one another inter-actively while competing on-line. The acquisition will not only enable Xethos to target the rapidly expanding database of Snowstorm customers worldwide as prospective users of the Xethos Card, but also generate significant revenues from the sale of banner advertising Banner Advertising A common form of advertising on the internet. The banner is an advertisement of 460x68 pixels, usually placed at the top of the page Notes: For an example, just look at the top of a page on almost any popular web site. appearing on-screen on·screen or on-screen adj. & adv. 1. As shown on a movie, television, or display screen. 2. Within public view; in public. alongside the V-Mail and GameTalk products. Commenting on this latest addition to the growing Xethos Group portfolio, Chief Executive Officer, Colin Gervaise-Brazier, said, "This acquisition fits perfectly with our strategy of acquiring and developing innovative technologies, whose popularity and timeliness in the marketplace will generate revenues for our shareholders and for re-investment in our corporate infrastructure. "GameTalk, in particular, exemplifies perfectly the type of synergy we are aiming to achieve by combining the means of enriching the inter-active experience of on-line games through the introduction of real-time dialogue with an efficient micro payment system for purchasing extended play time and other game associated features and services," said Gervaise-Brazier. Adrian Clarke Adrian James Clarke (born September 28 1974 in Cambridge, England) is a former English footballer, who last played for Welling United. He was a midfielder who played seven Premier League games at Arsenal. After he retired he became a journalist. , Managing Director of Snowstorm Development Limited, added, "We are delighted to enter into this symbiotic symbiotic /sym·bi·ot·ic/ (sim?bi-ot´ik) associated in symbiosis; living together. sym·bi·ot·ic adj. Of, resembling, or relating to symbiosis. partnership with Xethos Group which will expand distribution and enhance business development for both companies." Colin Gervaise-Brazier concluded, "We are confident that the powerful combination of V-Mail, GameTalk and the Xethos Card will generate significant numbers of customers and revenues for our new alliance." About Snowstorm Developments Limited. Based within the Science and Technology Centre of the University of Reading, UK, Snowstorm Development Limited is an Internet software development company, focused on improving and enhancing secure communication software through the use of voice, video and data compression data compression Process of reducing the amount of data needed for storage or transmission of a given piece of information (text, graphics, video, sound, etc.), typically by use of encoding techniques. techniques. Current product developments encompass video and sound compression, as well as file share broadcasting and video conferencing See videoconferencing. (communications) video conferencing - A discussion between two or more groups of people who are in different places but can see and hear each other using electronic communications. . About Xethos Group, Inc. Xethos Group, Inc. is dedicated to bringing to market products and services that enable, facilitate and enhance the use of e-commerce and telecommunications. Through investment in companies with established technologies in this field, Xethos is focused on increasing the productivity and the profitability of e-commerce and the Internet for businesses and consumers alike. 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. Act Disclaimer The statements contained in this release and statements that the company may make orally in connection with this release that are not historical facts are 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 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. Actual results may differ materially from those projected in the forward-looking statements, since these forward-looking statements involve risks and uncertainties that could significantly and adversely impact the company's business. Therefore, actual outcomes and results may differ materially from those made in forward-looking statements. |
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