ALLSTAR SYSTEMS ANNOUNCES NAME CHANGE AND TICKER SYMBOL CHANGE.
HOUSTON, July 11, 2000 /PRNewswire/ -- Allstar Systems, Inc. (Nasdaq:ALLS),
today announced that shareholders have approved the proposed name change to
"I-Sector Corporation". The name change will be effective on Wednesday, July 12,
2000. In addition, the company's Nasdaq ticker symbol will change to "ISEC". The
company's Internet/Web site address will change to WWW.I-SECTOR.COM
James H. Long, President and Chief Executive Officer of Allstar Systems stated,
"This name change has been implemented in order to better communicate, through
our name, our business purpose and mission. After the recent sale of our
Computer Products and Telecom Systems divisions we no longer sell "systems" and
the name Allstar Systems did not properly reflect what we intend this company to
become. Today approximately 60% of our revenues are derived from providing a
variety of services related to information technology and approximately 40% are
derived from sales of our Stratasoft software. Over the next several weeks we
will be announcing the creation of a number of new wholly owned subsidiary
corporations into which we will be contributing all of our operating assets.
This will create an organizational structure in which the publicly traded
corporation is a holding company with no operations, with all operations
conducted through individually branded and focused subsidiary corporations. We
believe that this organizational structure will result in more highly focused
and effective operations. We initially plan to have a total of four wholly owned
subsidiary corporations through which we will conduct the business that we
conduct today. Additionally, we plan to soon announce the creation of a new
wholly owned subsidiary through which we plan to begin offering additional
services. Further out on the horizon, we plan to either start up or acquire yet
other organizations through which we intend to offer additional services or
develop and sell other software. Our new name more properly reflects our mission
as a holding company that develops, owns, operates or invests in companies that
are generally involved in the information technology industry and which are
expected to benefit from the manner in which the Internet is changing the
world."
The statements contained in this document that are not historical facts,
including but not limited to, statements identified by the use of terms such as
"anticipate," "appear," "believe," "could," "estimate," "expect," "hope,"
"indicate," "intend," "likely," "may," "might," "plan," "potential," "seek,"
"should," "will," "would," and other variations or negative expressions of these
terms, are "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995 and involve a number of risks and
uncertainties. The actual results of the future events described in the
forward-looking statements in this document could differ materially from those
stated in the forward looking statements due to numerous factors including the
risks and uncertainties set forth from time to time in the Allstar Systems'
other public reports and filings and public statements. Recipients of this
document are cautioned to consider these risks and uncertainties and to not
place undue reliance on these forward-looking statements.
For additional information contact:
James H. Long
President and Chief Executive Officer
(713) 795-2301
