Exus Updates Shareholders on Latest Developments
15 May 2003, 11:00am ET
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NEW YORK--(BUSINESS WIRE)--May 15, 2003--Exus Global, Inc. (OTCBB: EXUS and NIPHIX: EXUSG) today reported developments in its business operations and stated goals:
A Dividend was announced to EXUS shareholders of record as of the close of market March 31, 2003, which consisted of one (1) share of E Education Network, Inc for every two hundred (200) shares of Common and Preferred EXUS stock. All beneficial shareholders will be receiving a confirming letter from E Education Network, Inc. this month and will be requested to return a short questionnaire. Shares of E Education Network, Inc. will be distributed upon successful registration and receipt of SEC approval, which is in progress.
E Education Network, Inc. (EEN), Exus' subsidiary that will provide high-quality distant learning globally with a special focus on emerging markets and Eastern Europe, has received its first shipment of Smart EducationCards(TM), allowing the user to ten credits of courseware. System testing and continuing web site development will enable users to be online beginning 3rd quarter 2003. EEN sales and distribution channels are targeting foundations, universities, governments and multinationals that will purchase the pre-paid Smart EducationCards(TM) in bulk. 50,000 Smart EducationCards(TM) are anticipated to be sold by the end of 2004, generating over $15,000,000 in revenues.
In addition, EEN is raising $1,000,000 via a Private Placement, which is in progress, to fund its initial activities and establish EENICs (Exus Education Network Internet Centers). These EENICs will allow Smart EducationCards(TM) users access to computers and internet connectivity. The US Government, through its entity OPIC (Overseas Private Investment Corp), has expressed interest in funding EENICs in Uzbekistan and Botswana, subject to their lending criteria. OPIC applications are pending.
In February 2003 EXUS announced the receipt of a grant from the African Center Foundation (ACF) in the amount of $1,250,000 with first payment of $250,000 to be received during the 2nd quarter of this year (first funds are anticipated to be received in June). The purpose of the grant is twofold: firstly, to assist in building EENIC's over the next 5 years throughout Africa and, secondly, to provide African doctors and health care providers with access to online educational content, particularly on topics relating to HIV and AIDS. The ACF, supported by The National Black Leadership Commission on AIDS, has announced a conference that will take place on the June 6th in New York. The conference will address the problem of AIDS in African Countries, and ACF will discuss the situation and solution, clearly announcing their African AIDS Therapy Project. EEN will be a sponsor to the event and will be actively involved as part as ACF's solution.
Votelnet, the EXUS division established to handle VoIP prepaid telephone calls originating from international markets is progressing nicely. The heart of the business is the prepaid data based software which is being tested and will be operational in 30 days. This Software enables Votelnet to sell Prepaid Calling Cards worldwide, with the ability to control and monitor calls over the Internet without the cost of traditional and expensive switching equipment. The EENICs will be a source of origination for these calls and one of Votelnet's main distribution partners. In addition, Votelnet has several pending and signed partnership agreements that would provide substantial revenue streams for Votelnet. Votelnet anticipates sales in the division to exceed $5,000,000 this year, while terminating more than 50,000,000 minutes.
About Exus Global, Inc.
Exus Global, Inc. is a global marketing and consulting company concentrating on Distant Education, delivered via a combined satellite and terrestrially based network. These services are provided in emerging markets to a diverse client base that includes medium to large multi-national businesses, universities, Internet service providers and government agencies. Through its subsidiary E-Education Network, Inc. Exus offers the first prepaid Smart EducationCards(TM) to students worldwide. Through its subsidiary Votelnet, Inc. Exus offers prepaid Voice cards to the International market. Exus is also developing Educational Internet Centers (EENIC) in emerging markets to provide Internet access and educational resources. To learn more about the Company, please visit its Website at www.exus.net and www.eenworldu.net .
The preceding includes forward-looking statements which involve known and unknown risks and uncertainties which may cause the Company's actual results in future periods to differ materially from forecasted results. Forward-looking statements above are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially due to a variety of factors, including, without limitation, competition, intellectual property rights, litigation, needs of liquidity, and other risks detailed from time to time in the company's reports filed with the SEC. This notice does not constitute an offer of any security for sale.
CONTACT: Exus Global, Inc.
Ike Sutton, 212/514-6600
SOURCE: Exus Global, Inc.