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Virtual Technology Corp. Chairman Responds to Inquiries Regarding Potential Stock Sales.

MINNEAPOLIS--(BUSINESS WIRE)--March 10, 1999--Kenneth Israel, Chairman of Virtual Technology Corp. (OTCBB:VTCO), responded to market inquiries as to whether he intends imminently to sell shares of VTCO stock into the public market.

Israel commented, "I have no current intention of selling any of my shares of VTCO. A filing of the 144 form does not mean that I will actually sell any or all of the shares available to me. In fact, at today's market price, I believe it would be imprudent to make such a move at this time. It is my personal practice to instruct my brokerage firm to file on my behalf a Form 144 with the U.S. Securities and Exchange Commission relating to the maximum number of shares of VTCO stock that I am permitted to sell in each three month period under Rule 144."

ABOUT VIRTUAL TECHNOLOGY CORP.

Virtual Technology Corp. (OTCBB:VTCO) is a publicly held Minnesota-based company with offices in Minneapolis, incorporated since February 1996. VTC is a rapidly growing E-Commerce company specializing in computer hardware and software products. The company's strategy is to become the "Premier WWW Site for Speed, Power, and Graphics" through its focus and marketing strategy, depth of market selection, competitive pricing and high quality content. VTC's Graphics Technologies Division specializes in wholesale distribution of technology products.

Statements in this Press Release that are not purely historical are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding VTC's expectations, hopes, beliefs, intentions or strategies regarding the future generally, VTC's growth strategy, future sales and anticipated trends in VTC's business. All forward looking statements included in this Press Release are based on information known to VTC on the date hereof, and VTC assumes no obligation to update any such forward looking statements. It is important to note that actual results could differ materially from those in such forward looking statements as a result of a number of factors, most of which are out of the control of VTC, including, but not limited to, VTC's early stage of development, its lack of profitability and cash flows and competition for the sale of hardware and software products both on and off the Internet.
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Publication:Business Wire
Geographic Code:1USA
Date:Mar 10, 1999
Words:386
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