GenesisIntermedia.com's 3-for-1 Stock Split
Takes Effect Today, Name Change to Be Effective as of April
2, 2001
LOS ANGELES, March 22 GenesisIntermedia.com, Inc.
(Frankfurt: GIA) today reminds its shareholders and the public
that its 3-for-1 stock split, which the Company announced on Feb. 15, 2001,
has taken effect and is reflected in the price of the Company's stock starting
today, March 22, 2001.
"One of the primary reasons for effecting the stock split was to make our
shares accessible to a wider range of investors," said Ramy El-Batrawi, Chief
Executive Officer of GenesisIntermedia.com.
The Company would also like to remind its shareholders that its previously
announced change of corporate title to GenesisIntermedia, Inc. from
GenesisIntermedia.com, Inc. will be effective as of April 2, 2001.
GenesisIntermedia.com recently announced that the next wave of Centerlinq
installations will occur in the top-tier markets of Los Angeles and San
Francisco, building upon an already strong presence there. Shopping malls in
these two California markets were among the first nationwide to be equipped
with the Centerlinq network.
GENI also announced that its Car Rental Direct subsidiary recently
expanded its operation into the retail segment with its first auto retail
location to be based in Glendale, CA. This location will focus on the sales
of pre-owned automobiles and retired rentals.
With expansion of the Company's traditional and new media marketing
activities continuing, El-Batrawi concluded, "We are making operational
strides all around. By making substantial investments in our corporate
infrastructure, as well as in those of Centerlinq, Car Rental Direct and our
media and marketing groups, we believe that we have created a solid platform
for growth and the generation of shareholder value."
About GenesisIntermedia.com, Inc.
GenesisIntermedia.com is involved in several business lines revolving
around the marketing and advertising of consumer goods and services. The
Company's main business lines are (a) direct sales and marketing of consumer
products, (b) interactive advertising and data mining in retail malls under
the Centerlinq brand, and (c) car rentals for the replacement market under the
Car Rental Direct brand. The Company strives to create a portfolio of
complementary business activities that build on the Company's traditional
strengths in marketing consumer goods and services. GenesisIntermedia.com
markets through several channels including television, print, telemarketing
and retail outlets.
The Company believes that significant opportunities exist to build new
platforms around e-commerce activities. As such, the Company has recently
dedicated significant financial and human resources to develop and
commercialize its Centerlinq product, which was honored by Microsoft Corp.
with the 2000 Retail Application Developer "RAD" award for
"Best Retail Headquarters Application" in the category of Core Retail
Marketing.
This document contains certain forward-looking statements that are subject
to risks and uncertainties. For such statements, GenesisIntermedia.com claims
the protection of the safe harbor for forward-looking statements contained in
the Private Securities Litigation Reform Act of 1995. Actual events or
results may differ materially from those discussed in forward-looking
statements as a result of various factors discussed in GenesisIntermedia.com's
Form 10(k) filed with the Securities and Exchange Commission.