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Exhibit 20.1
FOR IMMEDIATE RELEASE
Contacts: Sally Highducheck
(212) 931-6131
PepperCom Inc. for quepasa.com
[email protected]
Michele Vahsen
quepasa.com
(602) 716-0100 ext. 259
[email protected]
Quepasa.com and Gloria Estefan Announce
Postponement of 2000 U.S. Tour
PHOENIX, AZ - JULY 31, 2000 - Quepasa.com (Nasdaq: PASA), the premiere online
community for U.S. Hispanics (www.quepasa.com), and Gloria Estefan announced
today that Gloria's 2000 U.S. tour scheduled for this year has been postponed
and the contract has been renegotiated to eliminate the financial "put option"
to Estefan Enterprises, Inc.
"The tremendous success of Gloria's Spanish-language album "Alma Caribena /
Caribbean Soul" has necessitated the postponement of the tour, and we are very
happy for Gloria" stated Gary L. Trujillo, Chairman and CEO, quepasa.com "We are
very proud of her success and look forward to working with her in upcoming
months in our community and education initiatives."
In September of 1999, quepasa.com and Estefan initiated an education campaign to
bring the Internet and computers into underprivileged schools and Hispanic
communities. Quepasa and Gloria will continue this education initiative in Los
Angeles on September 11th. Further details on the upcoming event will be
available on the quepasa.com website beginning August 21, 2000.
Under the renegotiated contract, Ms. Estefan will maintain her relationship with
quepasa and will continue her support of the company's ongoing community and
education initiatives. Due to Ms. Estefan's postponement of her U.S. 2000 tour,
the "put option" due in August with respect to quepasa shares issued under the
original agreement has been eliminated. Therefore, there are no further
financial obligations and/or requirements with respect to the current
relationship.
"Quepasa.com remains committed to the community it serves and I am pleased to
continue to work with the company to help it achieve its goals and objectives
with regard to the U.S. Hispanic market," stated Gloria Estefan. "I love
interacting with my fans and anxiously await the next tour when I will be able
to devote my energy toward giving my fans an unbelievable concert experience,
one they will not soon forget."
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ABOUT QUEPASA.COM
Quepasa.com provides the rapidly growing U.S. Hispanic market with information
and interactive content available in both Spanish and English. The site was
founded in 1998 and includes a search engine, free e-mail, Spanish-language news
feeds, worldwide weather information, chat rooms, games, maps and message
boards. Quepasa.com has entered into strategic alliances with leading providers
of media, content and technology including: NetZero, Inc.; Reuters NewMedia,
Inc.; Associated Press; Agencia EFE; Hispanic Business Magazine; AutoNation,
Inc.; Net2Phone, Inc.; X:drive; Telemundo Network Group; The BigHub.com;
WeatherLabs, Inc., e-lingo, Egreetings Network, Inc., Inktomi and GTE
Internetworking.
Certain statements in this release regarding quepasa.com's expected future
business and prospects constitute "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements are based upon current expectations and involve
certain risks and uncertainties that could cause actual results to differ
materially from any such statement. Potential risks and uncertainties include
but are not limited to quepasa.com's unproven business model and limited
operating history; quepasa.com's ability to grow its user base and generate
revenue; risks associated with new or acquired businesses and joint ventures;
technological problems or developments; competitive factors; and general market
and economic conditions. Additional factors are discussed in the Annual Report,
of quepasa.com, and in any additional filings made with the Securities and
Exchange Commission.
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