Contact Information: Contact: Frank R. Erhartic, Jr. 434-239-4272 Email Contact
Sitestar CEO Interviewed by The Wall Street Reporter
Executive Frank Erhartic Discusses Sitestar's 2007 Acquisition & Growth Strategies
| Source: Sitestar Corporation
LYNCHBURG, VA -- (MARKET WIRE) -- March 21, 2007 -- Sitestar Corporation (OTCBB : SYTE ), a
provider of residential and business Internet access and value-added
computer services, announced today that CEO, Frank R. Erhartic, Jr., was
interviewed by the Wall Street Reporter. The discussion describes
Sitestar's recent acquisitions of Magnolia Internet and OneWest.Net and
their impact upon both the company's growth plans and balance sheet.
Additionally, Mr. Erhartic discusses Sitestar's near-term acquisition
strategy and the company's outlook for investors.
In the interview, Mr. Erhartic explains that work for the two most-recent
acquisitions was initiated last year. "It can be a lengthy cycle from the
initial qualifying call to closing the deal," said Mr. Erhartic. "Although
we did not consummate many acquisitions last year, behind the scenes, we
were very successful in building a strong acquisition opportunity pipeline.
It appears that those opportunities are now coming to fruition which, in
turn, makes us increasingly optimistic about our potential for growth this
year."
Mr. Erhartic is also bullish on the Sitestar's share price which has nearly
doubled this quarter and the company's ability to continue to deliver
shareholder value. "Given what we have achieved this quarter from both a
revenue and share price standpoint, we believe that Sitestar is poised for
a steeper and sustained growth trajectory," said Mr. Erhartic. "Nothing
drives shareholder value more powerfully than profitable growth. That's
why a lot of people can and are making money with our stock."
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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 (www.sitestar.com) is an Internet and computer solutions provider
that offers narrow-band (dial-up) services and broadband Internet access
services (ISDN, DSL, satellite, cable and wireless), Web hosting and
design, and other value-added services including web acceleration, spam and
virus filtering as well as spyware protection. Headquartered in Lynchburg,
Virginia, Sitestar maintains multiple sites of operation and provides
services to customers throughout the U.S. and Canada, with concentrations
in customers in the Mid-Atlantic and Rocky Mountain regions in the U.S. and
in Ontario, Canada. With a focus on competitive pricing, reliability,
service and speed, Sitestar delivers customer value.