DENVER, CO--(MARKET WIRE)--Jun 17, 2008 -- Worldwide Strategies, Inc. (OTC BB:WWSG.OB - News) today announced the Company has appointed Mr. Philip M. Verges, CEO of NewMarket Technology, Inc. (OTC BB:NMKT.OB - News), to its board of directors. This move is part of a strategic partnership to build a comprehensive mobile computing technology business as first announced in our joint LOI in February 2008. The partnership will acquire firms within the segment as previously announced over the next year.
James P.R. Samuels, Chief Executive Officer of Worldwide Strategies Inc., stated, "The Company is beginning to change its focus and requires different skills on our board to meet the changing requirements of our business. Mr. Philip Verges, Chairman and Founder of NewMarket Technology, Inc., has a strong technical understanding of this industry and has himself developed the NewMarket Technology firm from infancy to consistent growth and profitability. His leadership and strong technical ability will be an excellent asset to our board."
Philip M. Verges stated, "Working with Mr. Samuels is a privilege. His extensive experience in corporate finance has been instrumental in the development of key acquisition opportunities. With Mr. Samuels' credentials and participation, NewMarket and World Wide together have been able to build an acquisition pipeline with opportunities of substantial magnitude, quality and existing brand recognition. I anticipate the NewMarket and Worldwide partnership to be a summit event for the shareholders of both Companies, enabling each to reach even higher future summits."
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About Worldwide Strategies, Inc. (www.wideinc.com)
Worldwide Strategies, Inc. is a development tool stage business that has built a proprietary affinity marketing process and system to provide clients with outsourced services including multi-language capabilities. The affinity market business has signed several substantial contracts but has not established significant revenue.
About NewMarket Technology, Inc. (www.newmarkettechnology.com)
NewMarket helps clients maintain the delicate balance between maintaining legacy systems and gaining a competitive edge from the latest technology innovations. NewMarket provides certified integration and maintenance services to support the prevailing industry standard solutions such as Microsoft, Cisco Systems, SAP, Siebel and Sun Microsystems. Concurrently, NewMarket continuously seeks to acquire emerging technology assets to incorporate into an overall product portfolio carefully packaged to complement the prevailing industry standard solutions.
NewMarket delivers its portfolio of products and services through its network of Solution Integration subsidiaries in North America and the leading emerging markets around the world to include Latin America, China and Singapore.
NewMarket ranked Number One in Texas, Number Three in the United States and Number Five in North America on Deloitte's 2006 Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications and life sciences companies in North America. Rankings are based on percentage revenue growth over five years, from 2001-2005. The Company grew from less than $1 million in revenue in 2001 to $93.1 million in revenue and $7.3 million in net income in 2007.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause NewMarket's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.
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