EXHIBIT 99.1
IEXALT, INC. COMPLETES ACQUISITION
OF INTERNET SERVICE PROVIDER CLEANWEB
ACQUISITION SUBSTANTIALLY INCREASES NUMBER OF IEXALT ISP CUSTOMERS
HOUSTON (October 26, 2000) - iExalt, Inc. (OTC BB: IXLT), a Christian product
and services company with significant Internet-related activities, announced
today that it has completed the acquisition of CleanWeb, a filtered Internet
service provider (ISP) based in Lubbock, Texas. The stock-for-stock transaction
will substantially increase the number of iExalt's ISP customers and add
approximately $1.5 million in annualized gross revenues.
"Filtered Internet access is one of iExalt's core products because it allows
Christians to search the web in a safe and productive environment," said Donald
W. Sapaugh, iExalt's chairman and chief executive officer. "With the acquisition
of CleanWeb, we now have more than 7,000 ISP users. In addition to providing a
significant new audience for marketing iExalt's family of products and services,
this acquisition also brings us to near profitability."
Founded in 1997, CleanWeb has more than 6,000 filtered ISP customers who pay a
monthly subscription fee to access the company's filtering product at
HTTP://WWW.CLEANWEB.NET/. CleanWeb's filter, which uses iExalt's proprietary
filtering technology with some modifications, eliminates offensive and
objectionable material, such as pornography.
iExalt will continue to market the product under the well-established CleanWeb
name, as well as under its own product name, iExalt.net. In addition, Ted L.
Parker, CleanWeb's chairman and chief executive officer, will continue to
provide consulting services to iExalt. In addition, CleanWeb has significant
relationships with key ministries nationally. Parker states, "The opportunity to
partner with iExalt and to assist in the promotion of a family filtered ISP is
very exciting, and the synergies between CleanWeb and iExalt should prove to
provide the most comprehensive and effective filtering product for the Christian
community". Headquartered in Lubbock, Texas, much of the technical and support
staff will remain, while administrative, and marketing services will move to
Houston.
"Ted has been extremely successful in growing CleanWeb's filtered Internet
business," Sapaugh added. "His guidance will be instrumental in helping us grow
this key portion of our business, which in turn will help us increase the
exposure of iExalt's other products and services."
Headquartered in Houston, iExalt, Inc. was formed to provide products and
services for families, businesses and the Christian community. iExalt's family
of companies includes ISP filtering and monitoring software at WWW.IEXALT.NET;
CHRISTIAN HAPPENINGS, a Christian events magazine; CHRISTIAN TIMES newspapers;
ChristianSpeakers.com, the nation's leading Christian speakers bureau; iExalt
Electronic Publishing, a digital content library; LIFE PERSPECTIVES, a
nationally recognized daily radio program; ListenFirst, a nationally recognized
Christian Music information website; and PremierCare, healthcare management
services for senior adults. For more information about the company, visit
WWW.IEXALT.COM.
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THE STATEMENTS CONTAINED IN THIS NEWS RELEASE THAT ARE NOT HISTORICAL FACT ARE
"FORWARD-LOOKING STATEMENTS" WHICH CAN BE IDENTIFIED BY THE USE OF
FORWARD-LOOKING TERMINOLOGY SUCH AS "BELIEVES," "EXPECTS," "MAY," "WILL,"
"SHOULD," OR "ANTICIPATES," OR BY DISCUSSIONS OF STRATEGY THAT INVOLVES RISK AND
UNCERTAINTY. MANAGEMENT CAUTIONS THE READER THAT THESE FORWARD-LOOKING
STATEMENTS, INCLUDING THE DISCUSSIONS OF THE COMPANY'S GROWTH, OPERATING
STRATEGIES AND EXPECTATIONS CONCERNING MARKET POSITION, FUTURE OPERATIONS,
MARGINS, REVENUE, PROFITABILITY, HISTORICAL FACTS, ARE ONLY PREDICTIONS. THERE
CAN BE NO ASSURANCE THAT ANY OF THESE EXPECTATIONS WILL BE REALIZED OR THAT ANY
OF THE FORWARD-LOOKING STATEMENTS CONTAINED HEREIN WILL PROVE TO BE ACCURATE.
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