Solomon Alliance Group, Inc. & RepTheNet, Inc. Enter into Strategic Alliance Agreement
ATLANTA and WASHINGTON--July 30, 2001--Solomon Alliance Group, Inc., announced today that it has entered into a strategic alliance agreement with RepTheNet, Inc., a diversified business-to-business (B2B) sales group with a network of independent sales professionals throughout the United States and in strategic foreign markets.
The two companies expect that their first collaboration will be to identify several wireless-related consumer products to be supplied by Solomon for sale by RepTheNet to retail and other targeted accounts.
About ReptheNet:
ReptheNet is a dynamic, rapidly growing sales organization for manufacturers and suppliers in the United States and abroad. ReptheNet sells products directly to key commercial retail accounts and distribution channels and through its international network of independent sales representatives.
ReptheNet`s International Sales Network is currently composed of over 125 professional multi-line independent manufacturer`s agents and associated representatives selling consumer products in the U.S., Canada, Mexico, Latin America, the Caribbean, Europe and Asia.
ReptheNet`s global approach provides broad market coverage, the capability to effectively sell product to all classes of retail trade and the strategic benefit of centralized management of a client`s sales program. The independent members of this network currently sell $500 million of products for their clients to a list of accounts that reads like a "Who`s Who" of the retailing world:
-- Land-based accounts - K-Mart, Wal-Mart, Target, COSCO, Sears,
Home Depot, J.C. Penney`s, Bloomingdale`s, Nordstrom, QVC,
Brookstone, Home Shopping Network, May Co., Toys r Us, Safeway
and many others.
-- Internet accounts - Amazon.com, AOL.com, BlueLight.com,
Buy.com, Ebay.com, EZShop.com, GlobalSports.com, Internet
Shopping Network, iQVC, Redenvelope.com, Wal-Mart.com,
Quixstar.com and many others.
-- Mail Order accounts - Spiegel, Sears, The Sharper Image,
Hammecher Schlemmer, Macy`s by Mail, Publishers Clearing
House, Reader`s Digest, SkyMall, Swiss Colony, Williams
Sonoma, J. C. Penney`s and many others.
-- Hospitality accounts - Marriott International, Choice Hotels,
Guest Services, Pressto Valet, Spinnaker Resorts, Sunburst
Hospitality and others.
-- Military accounts - AAFES, Coast Guard Exchange, Marine Corps.
Exchange, NEXCOM and others.
Tom Weston, President and CEO of Solomon Alliance Group, Inc., stated: "We welcome RepTheNet to the Solomon group of strategic partners and we are anxious to work together to identify select wireless products for sale in the numerous markets not adequately covered by the product manufacturers. Our relationship with RepTheNet should enable us to build a solid consumer product sales program to complement our sales of commercial equipment through our DRN subsidiary."
Mr. Weston continued: "The world-class sales services of ReptheNet will give us access to the most important group of buyers here in the U.S. and abroad."
Solomon has a broad range of competitively-priced wireless data communications products available to it through various manufacturers and through its Master Purchase Agreement with Global Wireless Data, LLC, the largest independent stocking distributor of wireless data products and services in the United States.
Bob Greene, President and Chairman of RepTheNet, stated: "We are very pleased about our recent strategic partnership with Solomon Alliance Group. Based on our discussions thus far, we expect that Solomon and RepTheNet will be able to identify several products with a good profit margin for both companies. We also stand ready to provide strategic marketing support to Solomon through our key global partners and we expect to address other areas of possible strategic cooperation with Solomon, including wireless services for mobile professionals, an area of immense growth in the near future."
David Shaheen, CEO of ReptheNet, is a director of Solomon Alliance Group.
Shareholders are requested to refrain from contacting any of the parties indicated herein. Further information on RepTheNet is available by visiting its web site http://www.repthenet.com. Further information on Solomon Alliance Group, Inc. is available by contacting Barry Labell of Investor Communications Company (ICC) at (800) 550-5165 or by visiting their Web site http://www.iccinfo.com.
Please register at the ICC Web site to receive current information and press releases on Solomon Alliance Group, Inc.
This news release may contain certain "forward-looking statements" within the meaning of the Securities Exchange Act of 1934, as amended.
All statements, other than statements of historical fact, included in this release, including, without limitation, statements regarding future plans and objectives of Solomon Alliance Group, Inc. or ReptheNet are forward-looking statements that involve various risks and uncertainties.
There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Securities and Exchange Commission has not reviewed this release and does not accept responsibility for the adequacy or accuracy of this news release.
CONTACT:
Solomon Alliance Group, Inc.
by
Investor Communications Co.
Barry Labell, 800/550-5165
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