Friday May 11, 10:13 am Eastern Time
Press Release
Strategic Profits Inc. and Jzala Investments Group of Saudi Arabia Sign
Joint Venture Partnership Agreement
VANCOUVER, British Columbia--(BUSINESS WIRE)--May 11, 2001-- Strategic
Internet Investments Incorporated (the ``Company'') today announced that
Strategic Profits Inc. (``SPI''), traded publicly through the Company (SPI's
parent) under the symbol OSWE -- OTC:BB, has signed a joint venture partnership
agreement with Jzala Investments Group (``Jzala'') of Saudi Arabia to market the
communitystorefronts.com portal and e-commerce solution applications throughout
the Middle East.
The purpose of this partnership is to build and operate a
communitystorefronts.com e-commerce solutions service for the Middle East and
targeted Asian countries. The service will be setup and operated from the SPI
headquarters in Vancouver in conjunction with Jzala Investments Group from their
offices located in Saudi Arabia.
``Our partnership with Jzala Investments Group allows us to implement a
significant portion of our international business strategy,'' says Catherine
Clarke Luckhurst, President and CEO of Strategic Profits, Inc. ``Jzala,
initially, is bringing at least 600 Middle Eastern companies that are ready to
move forward with SPI's e-business solutions which will provide a significant
positive impact on our revenues in late Q4.''
About Jzala Investments Group (www.jzalagroup.com)
Jzala is one of the leading business houses, presided over by Sheikh Saad Bin
Saud Al-Arifi. The group started operation in 1967 in response to the massive
infrastructure development in Saudi Arabia. It made a significant contribution
in construction and in electrical, mechanical and maintenance. Since then it has
expanded into real estate, tourism, trading and information technology. The
company's global trade relations especially with other countries of the Arab
world, Europe and Asia, have encouraged the Group to develop its E-commerce
service facilities. The Chief Executive Officer of the company, Engineer Nasser
Saad Al-Arifi, ``sets great store by IT as a major area of development for the
Group in the 21st century.''
About Strategic Profits, Inc.
SPI has been providing Internet commerce solutions to small and medium
enterprises, not-for-profit and charities since 1994 including secure credit
card transactions since 1997. SPI provides full Internet service offerings
including online education, web hosting and design, Internet marketing, secure
shopping cart and payment order systems, as well as secure payment transactions
through Moneris Solutions and through out North American with GPS. Secure cash
transactions are available through their partners, Hyperwallet.com! In 1998 SPI
launched the communitystorefronts.com e-commerce pilot with their consortium
partners Industry Canada, Royal Bank of Canada. Today, communitystorefronts.com
is a fully commercialized portal offering online shopping, fundraising, and
turnkey e-commerce solutions. http://www.strategicprofitsinc.com.
Feb. 1, 2001 SPI, HP Canada Ltd. and TELUS announced an alliance to deliver a
new generation secure Internet-based credit card payment service...PayPaq(TM)!
Statements regarding financial matters in this press release other than
historical facts are ``forward-looking statements'' within the meaning of
section 27A of the Securities Act of 1933, Section 21E of the Securities
Exchange Act of 1934, and as that term is defined in the Private Securities
Litigation Reform Act of 1995. The company intends that such statements about
the Company's future expectations, including future revenues and earnings, and
all other forward-looking statements be subject to the safe harbors created
thereby. Since these statements (future operational results and sales) involve
risks and uncertainties and are subject to change at any time, the Company's
actual results may differ materially from expected results.
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