FORT MYERS, Fla., Jan. 14, 2004 (PRIMEZONE) -- Hy-Tech Technology Group, Inc. (OTCBB:HYTT), today announced the transformation of its core business to web enabled e-commerce, including the centralization of all operations, and the withdrawal from its over-the-counter wholesale operations.
To bring customers the best e-commerce computer business currently available, Hy-Tech entered into a management agreement with BCD2000, which has successfully provided quality service and products to the computer industry via the web for the last five years. This cooperative effort with BCD2000 will offer existing Hy-Tech customers improved pricing, better availability, faster service, and a lower cost of operation and is designed to make it easier to do business with Hy-Tech. This website is an interactive site, which allows customers to communicate directly with a sales representative by e-mail, yahoo instant messaging or telephone, as they place orders.
Martin Nielson, chairman of HYTT, stated, "This change is important for many reasons. First, it is much more cost effective and far less capital intensive. We will eliminate the overhead of the local wholesale outlets, and all our local costs will become variable. Key employees in the local operations are being offered positions with BCD2000, yet HYTT will retain benefit of the sales as part of the deal. Second, it is strategic, since it aligns our company with the methods of doing business that our potential merger partners and we have been negotiating for several months.
Lee Vaccaro, president of BCD2000 added "The rollout of e-commerce fulfillment platforms has been our company's primary focus. So, we are very pleased to support this plan and we are confident that the customers of HYTT will find this an excellent way to obtain the products they desire."
BCD2000, Inc. specializes in online e-tailing of computer components, systems, and software by offering traditional brick and mortar companies the ability to engage the internet without the burden of huge up front costs and infrastructure.
Founded in 1992, Hy-Tech operates in Florida and Colorado and supplies a full line of computer components, peripherals and systems from basic desktops to sophisticated servers. Hy-Tech is an award-winning reseller of industry leading technology products and earned a variety of accreditations such as the Intel(r) Premier Provider, Symantec(r) Authorized Education Reseller, and Iomega(r) Premier Partner. For more information, please visit www.e-hytech.com.
Safe Harbor Statement
Certain statements made herein are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on Hy-Tech's beliefs and the assumptions made using information currently available to it. Because these statements reflect Hy-Tech's current views concerning future events, these statements involve risks, uncertainties and assumptions. The actual results could differ materially from the results discussed in the forward-looking statements. In any event, undue reliance should not be placed on any forward-looking statements, which apply only as of the date of this press release. Accordingly, reference should be made to Hy-Tech's periodic filings with the Securities and Exchange Commission.