Symposium Corporation to Acquire WeFusion.com IncSymposium Corporation, a cross media direct marketing company which was recently listed on the American Stock Exchange, announced that it has reached agreement in principle to acquire WeFusion.com Inc, an application service provider (ASP) which has developed a database architecture enabling sophisticated customer profiling that Symposium will utilize to personalize the marketing of products and services to its existing and newly acquired customers. The terms of the agreement call for Symposium to purchase WeFusion.com, a privately held company, for shares of Symposium common stock valued at $1,500,000. The parties expect the transaction will close by October 31, 2000. The completion of the transaction is subject to certain conditions precedent including the execution of definitive agreements and the assumption by the WeFusion.com shareholders of all WeFusion.com liabilities existing prior to September 1, 2000. Ron Altbach, CEO of Symposium, said, "This extraordinary database architecture developed by WeFusion.com will allow us to anticipate our customers' needs and to guide us to most efficiently deliver products and services targeted to those needs." Mr. Altbach went on to say, "This is a key milestone in our plan to move direct marketing into the 21st century by marrying our proven and profitable direct marketing skills with cutting edge technologies." About Symposium CorporationWith headquarters in New York City, Symposium Corporation, a cross media direct marketing company combines established direct marketing skills with new technology, as it becomes available including Web based and interactive voice response technology. Earnings leverage is achieved by selling multiple products and services to a growing customer base through the use of current skills and new direct marketing technology. Through the Company's core business, Media Outsourcing Inc it currently contacts and retains the names of and important information on more than eleven million persons annually. Using special offers, Symposium expects, at very little extra cost, to attract large numbers of the people it contacts to its on-line discount-buying club as well as other technology driven marketing outlets to complete e-commerce transactions. Symposium recently announced its agreement to acquire NSI, a fully integrated direct response marketer of consumer products that has current sales in excess of $45 million and adds 1,000,000 new customers annually. A pioneer in service advertising contracts, it is the largest print advertiser in Sunday newspaper based magazines and reaches over 58 million households on a weekly basis through 908 newspapers. About WeFusion.comHeadquartered in Arlington, Virginia, WeFusion.com was established in 1997 and is a provider of free, online, members-only communities for membership-based organizations and their members. WeFusion.com's online directories, branded e- mail, tiered calendars, and bulletin boards help members extend membership experiences to the Internet. WeFusion.com is based in Arlington, Virginia. Additional information on WeFusion.com is available from its Website on the Internet at www.wefusion.com or by sending an email to info@wefusion.com. Contact Symposium Corporation, Ronald Altbach, CEO, 212-752-2601, raltbach@symposiumcorp.com or KCSA, Robert J. Giordano, 212-896-1289, rgiordano@kcsa.com, www.kcsa.com. |