SOURCE: Sitestar Corporation

May 07, 2008 18:05 ET

Sitestar Purchases Dial Assurance Wholesale Dial-Up Provider

Company Gains Thousands of New Access Numbers Plus New Revenue Stream

LYNCHBURG, VA--(Marketwire - May 7, 2008) - 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 purchased Dial Assurance, a nationwide wholesale provider of managed modem dial solutions for Internet Service Providers (ISPs). The Company benefits by obtaining access to thousands of new dial-up numbers and significantly lowering its operating expenses to support its large dial-up customer base. In addition to gaining a new revenue stream from Dial Assurance's downstream ISP customers, this acquisition provides another way for ISPs to partner with Sitestar.

"The acquisition of Dial Assurance dovetails nicely with our growth strategy," said Frank R. Erhartic, Jr., CEO for Sitestar. "Having worked with their management team as a customer, in Dial Assurance, we found a partner who shared our business philosophy of delivering great service at competitive prices while tightly managing operating expenses to generate strong revenue margins. By combining the two companies, we continue to diversify Sitestar's product portfolio, strengthen the Company's balance sheet and increase shareholder value."

By leveraging existing relationships with vendors and other contacts, Sitestar will be able to also expand Dial Assurance's coverage area and customer base. Sitestar will retain key Dial Assurance employees to provide on-going customer support and manage its whole network. To learn more about Dial Assurance's wholesale ISP products and services, please visit www.dialassurance.com.

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 and Web hosting. 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.

Contact Information