CORAL SPRINGS, Fla., Dec. 3, 2002 (PRIMEZONE) -- The Sun Network Group, Inc. (OTCBB:SNNW) (Berlin:SWK) announced today that it has been granted permission to trade its shares on the Berlin Stock Exchange. The German trading symbol is "SWK" and the German securities code (WKN) is 570 891.
T. Joseph Coleman, CEO of SNNW, said: "We are very pleased to have been approved for trading on the Berlin Stock Exchange. The Berlin exchange will provide a more accessible trading market for German and European stockholders and will assist in providing improved liquidity in our common stock overall. This is part of the Company's continued effort to establish trading on exchanges where Company shareholders are located."
SNNW is the parent company of the RadioTV Network, Inc ("RTV"), a new television network that produces and distributes television adaptations of top rated radio programs. RTV also owns and operates Radio X, a new, nationally syndicated radio network. RTV intends to develop and expand its TV network concept into European markets, initially concentrating on Germany via a joint venture with a European broadcasting entity. RTV anticipates identifying its initial European TV program prospects in the first quarter of 2003.
Coleman stated: "We believe the RTV business model is very compatible with the European television markets and it will be a very attractive programming option to the satellite delivered digital TV networks that have proliferated in the last ten years. We do not envision RTV Europe as a Pan-European broadcast network but rather an assemblage of regional, language specific networks repurposing local content."
For more information on Sun Network Group, Inc., please visit their web site: www.sunnetworkgroup.com or contact:
Stephen Kern Investor Relations 323.937.4022 sjkern@dslextreme.com Andreas Schmidt European Representative asglobal@gmx.de
This announcement contains forward-looking statements about Sun Network Group, Inc., that may involve risks and uncertainties. Important factors relating to the company's operations could cause actual results to differ materially from those in forward- looking statements and are further detailed in filings with the Securities and Exchange Commission available at the SEC website (http://www.sec.gov). All forward-looking statements are based on information available to Sun Network Group, Inc. on the date hereof, and Sun Network Group, Inc., assumes no obligation to update such statements.