Contact Information: Contact: Frank R. Erhartic, Jr. 434-239-4272
Sitestar Purchases AlaNet Assets
Company Expands Into Rural Alabama With Acquisition of Dial-Up and Hosting Customers
| Source: Sitestar Corporation
LYNCHBURG, VA--(Marketwire - June 25, 2007) - Sitestar Corporation (OTCBB : SYTE ), a
provider of residential and business Internet access, web hosting and
value-added products and services, announced today that it has acquired the
dial-up subscriber and web hosting customer base and other assets of AlaNet
Internet Services. The deal is the third acquisition Sitestar has
consummated in 2007 as the Company continues to aggressively execute its
plan to increase its customer base, revenues and net profits.
Sitestar has deployed a model of steady quarterly growth with the objective
of becoming one of the Internet Service Provider (ISP) industry's dominant
players. With a focus on optimizing operational efficiencies, the Company
has created a proven and repeatable process to identify attractive
acquisition targets like AlaNet, successfully integrate their customers
into the Sitestar infrastructure and generate strong returns on investment
by leveraging economies of scale.
"We are dedicated to taking Sitestar to the next level by acquiring more
ISPs and expanding our focus to include other growth segments and
initiatives to further increase the Company's revenues," said Frank R.
Erhartic, Jr., CEO for Sitestar. "Based upon our progress and performance
to date, Sitestar is securely on track to meet its corporate goals and
objectives. Moreover, both the depth of our opportunity pipeline and the
resounding receptiveness of business owners to a Sitestar acquisition
continue to buoy our optimism that 2007 will be a year of significant
growth for the Company."
Sitestar expects a seamless transition of the AlaNet customer base to the
Company's own infrastructure. "We welcome the new AlaNet customers to
Sitestar and look forward to providing them with our pledge to deliver
outstanding service and support," added Mr. Erhartic.
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 consumer and business-grade Internet access, 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
of 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.