7thStreet.com Consolidates Brands Under Learn2.com; Changes Symbol To ``LTWO''.
Offers free multimedia courses in Microsoft Word 97, Access 97 and
Time Management to celebrate
In a move designed to consolidate its Internet offerings under a single brand, leading online learning company 7th Street.com (NASDAQ: SEVL), today announced that it will assume the name of Learn2.com, its best-known and most highly-trafficked website. Effective July 20, 1999 the company will trade on the NASDAQ exchange under the stock ticker symbol LTWO. Learn2.com has launched a nationwide branding campaign and a consolidated site at http://www.learn2.com to reflect the change.
To celebrate, the company is offering free online multimedia courses. From July 19, 1999 to August 19, 1999, users can log on to Learn2.com's tutorial Web site at http://www.learn2.com and view several of the company's acclaimed, in-depth multimedia courses at no charge. Learn2.com is including Introduction to Microsoft Word 97, Introduction to Access 97 and Time Management in this special offer.
Learning via the Internet is becoming a popular alternative to the traditional classroom. According to computer industry analyst IDC, the U.S. online distance learning market is projected to grow to $6 billion by 2002.
"On-line learning is an industry with huge potential, and Learn2.com intends to be the preeminent company in that industry. Our strategy is to offer our individual, corporate and government customers a unified destination to meet all of their learning needs," said Jason Roberts, Director and Executive Vice President of Learn2.com.
All of Learn2.com's products feature the company's highly advanced Internet streaming technologies, which enable instant access of interactive multimedia and animation on the Web, providing for an engaging learning experience.
On June 7, 1999, Learn2.com announced the signing of a contract to acquire ViaGrafix Corporation (Nasdaq: VIAX), the number one multimedia computer training company in terms of sales, according to NPD Group SofTrends. ViaGrafix's products include interactive multimedia courses and tutorials for IT training and other subjects for a variety of computer software. ViaGrafix has an existing library of more than 1,000 titles. The acquisition is expected to close in the third quarter of 1999 subject to certain conditions, including a vote of both companies' shareholders.
For further information, visit http://www.learn2.com, or contact Bev Scott, S & S Public Relations at (415) 956-1180 or Jason Roberts, Learn2.com at (415) 332-8503.
Forward-Looking Statements: This news release contains forward-looking statements, which involve risks and uncertainties. Accordingly, no assurance can be given that the actual events and results will not be materially different from the anticipated results described in the forward-looking statement. There are a number of important factors that could cause actual results to differ materially from those expressed in any forward-looking statements made by the Company. These factors include the Company's success in integrating the business and operations of both constituent companies; the activities of new or existing competitors, the ability to attract and retain employees and strategic partners, the ability to leverage intangible assets in its technology, the ability to complete new projects at planned costs and on planned schedules and adoption of the Internet as a medium of commerce, communications and education. Investors are also directed to consider other risks and uncertainties discussed to documents filed by the company with the Securities and Exchange Cence of unanticipated events.
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|Date:||Jul 20, 1999|
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