Sitestar Schedules Online Shareholder Meeting

LYNCHBURG, VA--(Marketwire - August 29, 2008) - Sitestar Corporation (OTCBB: SYTE), a provider of residential, business and wholesale Internet access, web hosting and value-added products and services, announced today that it will conduct an online discussion to review the Company's 2007 financial results, recent 2008 results and future growth goals at 5:00pm Eastern Time on Wednesday, September 3, 2008. Shareholders, potential investors, media firms, analysts and other interested parties are encouraged to participate.

"2007 was a pivotal year for Sitestar, characterized by increased deal-flow and highlighted by the acquisition of the USA Telephone/Nationwide dial-up customers which doubled our customer base and puts the Company on a trajectory to generate over $10,000,000 in revenue for 2008," said Frank R. Erhartic, Jr., CEO for Sitestar. "Behind the scenes, we primed the pump to consummate future transactions, some of which have already come to fruition in 2008. We look forward to sharing our short and long-term goals and initiatives with our investors as our team continues to focus on increasing shareholder value."

Interested parties are encouraged to register on the Sitestar corporate web site (http://www.sitestar.com). Once registered, participants may suggest topics for discussion. On the day of the event, registered parties will receive an email with instructions on how to join the online discussion.

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," "expects," "projects," "anticipates," "foresees," "forecasts," "estimates," "should" or other words or phrases of similar import. Forward-looking 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, wholesale managed modem services for downstream ISPs 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.

Contact Information: Contact: Frank R. Erhartic, Jr. 434-239-4272