Sitestar Acquires N2 The Net, Internet Access Customers
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LYNCHBURG, VA, Apr 14 (MARKET WIRE) -- 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 the Internet access customer base and assets of Tennessee's N2 The Net. The acquisition closely follows the Company's recent purchase of Comcation and is the second transaction in what Sitestar expects to be a year of increased deal flow and growth in new, opportunistic market segments. "N2 The Net's narrowband and broadband customer base fits squarely into Sitestar's acquisition sweet-spot where our economies of scale and value-added service offerings enable us to generate stronger margins and retain customers longer than smaller ISPs can," said Frank R. Erhartic, Jr., CEO for Sitestar. "We are encouraged by our progress so far in 2008 and anticipate closing more opportunities by leveraging our increased cash flow to capitalize upon the current economic climate." N2 The Net customers can look forward to an easy transition, access to additional services such as Surfboost Web Accelerator as well as other benefits including advanced spam filtering, extremely reliable network uptime and extended support hours, along with Sitestar's friendly, personal support. "We welcome the former N2 The Net customers to Sitestar and 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 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: Frank R. Erhartic, Jr. 434-239-4272 Email Contact Copyright 2008, Market Wire, All rights reserved. -0-