Contact Information: Contact: Frank R. Erhartic, Jr. 434-239-4272
Sitestar Purchases Dial Assurance Wholesale Dial-Up Provider
Company Gains Thousands of New Access Numbers Plus New Revenue Stream
| Source: Sitestar Corporation
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.