LOS ANGELES, April 24, 2001 – Vertical Computer Systems, Inc. (OTCBB:VCSY) today announced that its legal counsel has requested Global News Network to retract and withdraw articles on Vertical Computer Systems that Global News Network released over news wires on April 23, 2001, purporting to be drawn from information publicly available on the Internet. According to Vertical’s management and counsel, the Global News Network items were issued without Company authorization and contained certain information that is inaccurate and is not to be relied upon by investors.
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 Gateways (HCGs).
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.
At present, VCSY 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, including www.theKoreaBridge.com.
The company is continuously developing Emily(TM) 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 e-mail service for all Web users (www.thepostmaster.net). For more information, visit the company's Web site at www.vcsy.com.
This release contains, in addition to historical information, forward-looking statements. These statements are subject to a number of uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Factors that may cause such a difference include, but are not limited to, competition from other portals, the company's ability to integrate and market the Emily(TM) software, the market reception to VCSY'S new products, the potential benefits to customers, the conversion of sales leads into customers and the ramp-up of ASP users and other factors over which VCSY may have little or no control such as those described in the company's filings with the SEC.