LOS ANGELES, CA, March 8, 2001 -- Vertical Computer Systems, Inc. (OTCBB:VCSY) today announced that it has entered into a joint venture with Navicom Co., Ltd., an e-commerce and telecommunications leader specializing in cutting-edge Global Positioning System (GPS) technologies and GPS-related applications in Korea. Navicom initiated GPS technology research and development in 1990, establishing its main operational center in Seoul, Korea in 1996. Since its conception, Navicom has become one of the fastest growing companies for total GPS technology and telecommunications in Korea. Under terms of the joint venture agreement, Navicom will establish a local distribution platform within the bustling Korean technology and e-commerce communities for VCSY’s products, services and technology starting with launching theKoreaBridge.com, which is slated for early July, 2001.
Richard Wade, President of Vertical Computer Systems, Inc., stated, “We are pleased to enter into this new joint endeavor with Navicom and are looking forward to combining forces in order to advance e-commerce capabilities and opportunities for both companies. As we have done in our previous international initiatives, we have sought to team up with leaders, and have found another one in Navicom. We are proud to have Navicom as our Korean partner.”
Navicom Co., Ltd. is the leading provider of Global Positioning System (GPS) technologies and GPS-related applications in Korea. Since its operations in 1996, it has devoted itself continuously to developing numerous applications and opportunities involving GPS receiver technology, with the motto of 'Providing total solutions for GPS & telecommunications.' Navicom's web site is located at http://www.navicom.co.kr.
Vertical Computer Systems, Inc. is a leading provider of Web-based multilingual gateways, developer of proprietary software, and e-commerce solutions. The Company is based in the United States. VCSY's products and services, technology and distribution channels complement each other and are supported by its e-commerce business model, the Home Country Gateway (HCG). Utilizing its growing global network of online HCGs, the Company offers B2B, B2G and B2C solutions through its wide range of accessible resources that specifically cater to the needs and desires of targeted communities around the world. VCSY has also acquired Globalfare.com – a complete online travel information center at www.globalfare.com.
VCSY currently has five HCGs in operation: www.theWorldBridge.com, www.theIndiaBridge.com, www.theUSBridge.com, www.theBrazilBridge.com, www.theChinaBridge.com, and is working to establish other HCG partnerships in addition to www.theKoreaBridge.com. The Company is continuously developing EmilyTM solutions, (www.emilysolutions.com), proprietary XML-based technology providing unique software for e-commerce, information technologies, Web-based data management and process control. VCSY also offers a free, easy and personalized email service for all Web users (www.thepostmaster.net). For more information, visit the Company's Web site at www.vcsy.com.