Contact Information: Contact: Frank R. Erhartic, Jr. 434-239-4272
Sitestar Acquires N2 The Net, Internet Access Customers
Company Purchases Dial-Up & DSL Customers From Tennessee ISP
| Source: Sitestar Corporation
LYNCHBURG, VA--(Marketwire - April 14, 2008) - Sitestar Corporation (OTCBB : SYTE ), a
provider of residential and business Internet access, web hosting and
value-added products and services, announced today that it has purchased
the Internet access customer base and assets of Tennessee's N2 The Net.
The acquisition closely follows the Company's recent purchase of Comcation
and is the second transaction in what Sitestar expects to be a year of
increased deal flow and growth in new, opportunistic market segments.
"N2 The Net's narrowband and broadband customer base fits squarely into
Sitestar's acquisition sweet-spot where our economies of scale and
value-added service offerings enable us to generate stronger margins and
retain customers longer than smaller ISPs can," said Frank R. Erhartic,
Jr., CEO for Sitestar. "We are encouraged by our progress so far in 2008
and anticipate closing more opportunities by leveraging our increased cash
flow to capitalize upon the current economic climate."
N2 The Net customers can look forward to an easy transition, access to
additional services such as Surfboost Web Accelerator as well as other
benefits including advanced spam filtering, extremely reliable network
uptime and extended support hours, along with Sitestar's friendly, personal
support. "We welcome the former N2 The Net customers to Sitestar and
pledge to deliver outstanding service and support," added Mr. Erhartic.
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements that are based on
management's expectations, estimates, projections and assumptions. The
Company assumes no obligation except as required by law to update the
forward-looking statements contained in this press release as a result of
new information or future events or developments. These forward-looking
statements generally can be identified by words such as "believes,"
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statements are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995, as amended. These statements are
not guarantees of future performance and involve certain risks and
uncertainties, which are difficult to predict. Therefore, actual future
results and trends may differ materially from what is forecast in
forward-looking statements due to a variety of factors, including and
without limitation, as found in the Company's reports filed with the
Securities and Exchange Commission.
About Sitestar
Sitestar is an Internet solutions provider that offers consumer and
business-grade Internet access and Web hosting. Headquartered in
Lynchburg, Virginia, Sitestar maintains multiple sites of operation and
provides services to customers throughout the U.S. and Canada. With a
focus on competitive pricing, reliability, service and speed, Sitestar
delivers customer value. For more information, visit www.sitestar.com.