SWANTON, Vermont--(BUSINESS WIRE)--April 22, 1996--The S.I.N.C.L.A.R.E. Group Inc. (SNCG) finalized a joint venture agreement with CyberPath Corp. to manage a database that will offer The New Industrialist...Strictly British(TM) as a monthly publication effective June 1, 1996.
Under the terms of the agreement, Sinclare will supply the datalinks and historical profiles of 11,300 public companies trading in Great Britain and Europe.
The publication will also be offered in electronic format via Internet through a newly developed software called FlexQuote(TM). Under the FlexQuote program, a subscriber can have immediate access to historical graphs, current commentaries, current news and a flexible quoting system that will also broadcast the last trade, all on one condensed screen.
Additionally, Sinclare will earn a 25 percent interest in the British publication, as well as three other financial journals in Germany, France and Italy. Sinclare will also receive $300,000 over the course of 12 months to design computer links, web sites and related activities.
"Under the terms of the agreement, the use of the hard copy publications, supplemented with a Internet access, will be able to support a collective market in Europe as well as North America.
With a database consisting of 14,000 public companies trading in the United States and Canada, and a projected 11,300 additional companies trading in Great Britain, France, Germany and Italy, FlexQuote will be the most extensive information source under one company to date," said Gerald Gallagher, secretary treasurer, in a recent interview.
"Database management, content and value added service providers are where the real money on the Internet will be made. Right now, the emphasis is on access providers, browsers and related tools to allow use of Internet. Once they are on the system, it will be the content and value added service providers that will reap all the benefits."
Sinclare has completed the final testing phase of its FlexQuote system after the integration with its proprietary TNI-Explorer(TM) software. Sinclare is refining the subscription protocol, to ensure confidential billing for their subscribers. The company is setting up a dedicated 800 data dial-up line with full security instead of having it accessed from Internet.
Based on the current Red Sheet and Blue Sheet Commentaries(TM) supported by The New Industrialist database, Sinclare is receiving in excess of 150,000 inquiries a week. The FlexQuote system should initially attract 100,000 users at the rate of $9.95 per month based on the level of inquiries, the pricing compared to its competitors and the superior level of information provided all on one screen.
At present, other services are being offered that range from $25 to $145 which lack the full range of features that FlexQuote proposes to offer. It is estimated, based on SNCG's available statistics, that there are 2.5 million screens supporting only the North American market that are offering financial service information of which the top eight firms maintain 749,000 screens generating in excess of $5.08 billion in sales, with the biggest being Reuters and Dow Jones Telerate.
Sinclare's FlexQuote service will be initiated during May 1996 for the North American market supporting 14,000 public companies. By late summer, the database will be expanded to include an additional 11,300 public companies in Great Britain, France, Germany and Italy.
A special 16-page supplement of the company's magazine called Sinclare One, May edition, will be used as an insert in a direct marketing campaign to distribute 500,000 booklets to potential users of the FlexQuote program. Look for the supplement in the Financial Times and the Globe and Mail within the next 30 days.
As part of the Sinclare campaign to expand its database and broaden its user market, it is currently processing all public companies trading in Mexico. It is projected during the last quarter of fiscal '96, Sinclare will be publishing The New Industrialist...Strictly Mexico and support the business journal with a complete Internet access and a live quote system using FlexQuote.
To review Sinclare's World Wide Web offerings, check http://www.sncg.com.
Sinclare previously reported revenues of $617,603 with earnings of $417,471 or 3 cents per share for fiscal year 1996 first quarter ending Jan. 31, 1996, vs. revenues of $272,309 and a loss of $629,444 or 5 cents per share for the corresponding 1995 period.
The second quarter for fiscal year 1996, which ends April 30, 1996, is expected to continue this growth pattern and the revenue and earnings outlook for the remainder of the year is significantly ahead of schedule.
The Sinclare Group Inc. is a vertically integrated content and value added provider that supplies technology and expertise for the management of data transmitted on the Internet. The company, which operates under Federation On-Line Services, offers a variety of Internet access functions, structures on-line data entry and retrieval services, processes and manages voice and data transmissions using multimedia gateways.
CONTACT: Kurt Jones, 800/427-8625
509/486-2338
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