Contact Information: Contact: Frank R. Erhartic, Jr. 434-239-4272
Sitestar Acquires Nationwide, InReach and Other Narrowband Customers From USA Telephone
Addition of Nearly 40,000 Subscribers to Double Revenues of Company
| Source: Sitestar Corporation
LYNCHBURG, VA--(Marketwire - November 9, 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
nearly 40,000 dial-up subscribers from USA Telephone, a Competitive Local
Exchange Carrier (CLEC) headquartered in Maine. The transaction, which is
the largest deal Sitestar has consummated to-date, will double the
Company's revenue, and will help accelerate expansion through additional
customer acquisitions and fuel new-growth initiatives in web hosting
services and Voice over Internet Protocol (VoIP).
The acquisition includes USA Telephone's narrowband Internet access
subscribers. USA Telephone will continue to provide broadband Internet
access, web hosting and other voice-related services to its customers.
"This acquisition of nearly 40,000 subscribers marks an exciting and key
milestone for Sitestar," said Frank R. Erhartic, Jr., CEO for Sitestar.
"By doubling our revenue stream, not only does this transaction help
advance our objective of becoming one of the leading independent ISPs but,
more importantly, puts Sitestar on a steeper growth trajectory, enabling us
to complete more deals and pursue larger customer bases, while also
generating the operating capital needed to invest in new and opportunistic
business segments."
Sitestar anticipates the transition process to be seamless and smooth.
"We're delighted to welcome the former USA Telephone narrowband customers
to Sitestar and promise to provide an uncompromisingly high level of
service and support," said 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 is an Internet solutions provider that offers consumer and
business-grade Internet access, Web hosting and Voice over Internet
Protocol (VoIP). Headquartered in Lynchburg, Virginia, Sitestar maintains
multiple sites of operation and provides services to customers throughout
the U.S. and Canada. With a focus on competitive pricing, reliability,
service and speed, Sitestar delivers customer value. For more information,
visit www.sitestar.com.