VANCOUVER, British Columbia, Feb. 9, 2001 (PRIMEZONE) -- Globetech Ventures Corp. (OTCBB:GTVCF), developers of world-class Website and e-mail language translation technology, announced today that the company's president and CEO, Dilbagh Gujral, was interviewed yesterday by CEOcast.com about the current activities of his company and its latest venture, TranslationWave. The contents of the online interview, both audio and text, are currently accessible at CEOcast.com's financial information Website at www.ceocast.com.
"Our purpose is to bring down the language barriers on the Internet," says Gujral in the interview. "Presently 96% of all e-commerce is conducted in English and 80% of all Websites are available only in English. This is an extremely significant problem because roughly 70% of all PC users are non-English speaking. This group also makes up the fastest-growing segment of new Internet users. For example, in India, China, Taiwan and Korea, the Internet populations are growing at tremendous levels, though many businesses are denying these millions of potential new online customers with their English-only Websites. Our product, TranslationWave, brings these businesses and customers together -- in real time -- to conduct commerce as a global community without any language barriers."
Globetech's state-of-the-art communications service is by far the most advanced and comprehensive solution of its kind, with the ability to connect the world with the touch of a button. TranslationWave (www.translationwave.com) can translate everything from Website content, documents, forms and archives to words, phrases and e-mail messages, in either real-time or delayed formats. Globetech Ventures has now made it possible for companies around the world to communicate and therefore conduct business more easily; no matter what language they speak. This is truly revolutionary because TranslationWave can give those companies the ability to operate worldwide, which is a tremendously valuable competitive advantage in today's ever-expanding global marketplace.
"A key to our present and future success is that we have locations in both the Western and developing worlds for the ongoing development of our TranslationWave software technology. Our additional offices in India provide us with a cache of highly trained IT workers who are at the forefront of the developing Internet markets. A major component for our development is the 10-hour time difference we gain. We basically get an 18-20 hour work cycle through both of our offices each day. Our India branch passes on the work they have completed at the end of their day and our North American developers pick up where they left off first thing in the morning," adds Gujral.
Over 200 million future Internet users from China, India, Japan and Taiwan are expected to be online by 2003, creating what International Data Corp. (IDC) estimates to be a $378 million market for the translation of online text. The recent entry into this market sector by such well known names as IBM (NYSE:IBM) has done much to highlight its enormity.
About CEOcast
CEOcast is an online source for original and syndicated streaming broadcast interviews of Chief Executive Officers at public and private news-making companies. Organized by industry, its analysts average more than 15 years experience covering and evaluating Wall Street's leading companies. CEOcast's programming is distributed to millions of online investors at more than 700 financial Websites as well as to more than 20,000 portfolio managers, buy-side analysts and traders at more than 3,300 North American institutions. Content is also disseminated to more than 7,000 investment research professionals representing more than 425 institutions.
About TranslationWave.com
TranslationWave is a leading translation application service provider (ASP) that converts the Internet into a truly universal platform of communication. This is done through three key products that are offered by TranslationWave: Web site translation; E-Mail translation; and Universal translation icon (Interprenet).
The first two products are created specifically for existing Websites to upgrade their current capabilities. The third product, which is set to launch in the second quarter of 2001, is for individuals who surf the Internet. Interprenet allows for surfers to translate any page they are on instantly into their desired language. If for example, an English-speaking user lands on a page that is in German, the Interprenet icon is used from the Internet browser bar to convert the page into English; it is a virtual universal translator that accompanies the user's every move.
The actual TranslationWave Website is a platform that demonstrates the products offered by the company. It shows the capabilities that the technology offers for clients who recognize the competitive advantage of state-of-the-art translation solutions. TranslationWave is an ASP that will capture this huge untapped market and make the Internet a truly global marketplace. Globetech's business solution packages offer the smallest to the largest Websites, from small businesses to corporations, the capability to increase exposure to users who don't speak the language their Website is constructed in. Additionally, TranslationWave can create internal e-mail systems with translation capability. The system is perfect for multinational corporations that need to communicate with global offices or for businesses that just need to send and receive e-mails translated to and from various languages.
TranslationWave provides a dynamic online venue that offers a complete package of services including chat room capabilities, e-mail, phrase, document and web site translation. TranslationWave currently provides translation to and from English, Spanish, Portuguese, Italian, Japanese, German, Korean, Chinese, Russian and French (with Arabic and Dutch soon to be added). E-mail, chat and keyboard practice applications also support communication in a total of 38 international languages. The end result is simple; in striving to gain as much exposure as possible, it is important not to overlook the potential of non-English speaking markets.
For further information, please visit the company's Website at www.globetechventures.net or contact Alan Brown, Vice President - Marketing at our head office at 1-800-298-0244.
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