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EXHIBIT 99.1
WEDNESDAY NOVEMBER 29, 11:30 AM EASTERN TIME
PRESS RELEASE
ENVISION DEVELOPMENT TO TEMPORARILY CEASE OPERATIONS PENDING RESOLUTION OF
SOURCE OF FUNDS
MARLBORO, Mass.--(BUSINESS WIRE)--Nov. 29, 2000--Envision Development
Corporation (EDV) disclosed today that its board of directors has elected to
temporarily cease the Company's operations pending a resolution of the
corporation's source of funds. The Board is actively seeking alternative sources
of funds--especially for its Interosa privacy e-mail operation-- following its
sole lending source's decision to decline to increase its lines of credit to the
Company. There cannot be any assurance that the Company will be successful in
such efforts. The Board also determined to temporarily furlough its employees at
the time. In addition, officers of the corporation will defer all cash
compensation, effective immediately.
This press release contains forward-looking statements that involve risks and
uncertainties that could cause actual results to differ materially from those
set forth in the forward-looking statements. Such risks and uncertainties are
described in the Company's filings with the SEC, including the Company's Annual
Report on Form 10K and the Registration Statement on Form S-1.
Envision Development Corporation (www.edvcorp.com) provides secure e-mail
communication technologies to corporations and individuals, and specialized
software for collaborative communications.
