EXHIBIT 99.1
IEXALT, INC. COMPLETES ACQUISITION OF
CHRISTIAN TIMES NEWSPAPERS
ACQUISITION PROVIDES FOUNDATION FOR NATIONWIDE CHAIN OF REGIONAL CHRISTIAN
NEWSPAPERS
HOUSTON (July 12, 2000) - iExalt, Inc. (OTC BB: IXLT), a Christian products and
services company with significant Internet-related activities, announced today
that it has acquired Keener Communications Group, publisher of the award-winning
CHRISTIAN TIMES newspapers. CHRISTIAN TIMES is regarded as the largest and one
of the most successful regional Christian newspapers in the Christian Newspaper
Association. As a result of this acquisition, iExalt's annualized gross revenues
will increase to approximately $9.5 million.
"Since our formation, iExalt's strategy has been to acquire or develop resources
that provide relevant content to our customers in an efficient manner while
taking advantage of the synergies we have among our various operating
divisions," said Jack I. Tompkins, iExalt's Chairman and Chief Executive
Officer. "In addition to providing another cost-free avenue for advertising the
entire line of iExalt products and services, CHRISTIAN TIMES provides a valuable
source of content for iExalt's online event resources.
"Because of these synergies, we plan to develop a nationwide chain of regional
Christian newspapers that will further enhance our content and drive traffic to
our web sites," Tompkins continued. "iExalt's CHRISTIAN HAPPENINGS magazine will
directly benefit from CHRISTIAN TIMES' extensive coverage of local Christian
events. The combined annual distribution of these two publications is more than
four million in 26 markets nationwide, which in turn will help increase the
exposure of our online events calendar, WWW.IEVENTS.NET."
CHRISTIAN TIMES is published in eight regional editions in California with a
monthly circulation of approximately 180,000 copies. Distributed through
churches and individual subscriptions, the newspaper reports on current events
from a Christian perspective, focusing on traditional family values and church
trends. News and information is also available online at WWW.CHRISTIANTIMES.COM.
Lamar Keener has been named president and chief executive officer of iExalt's
Christian Times division. His wife, Theresa Keener, will also maintain her
active role in the publishing company. The husband and wife team began
publishing CHRISTIAN TIMES in 1988 after acquiring a small Christian classified
shopper in San Diego. Under their leadership, CHRISTIAN TIMES has received six
merit awards from the Evangelical Press Association.
"We are pleased to welcome Lamar and Theresa to the iExalt family," Tompkins
continued. "Their experience will be valuable as we develop new regional
Christian newspapers and expand our market reach from coast to coast."
iExalt, Inc. operates a global network designed to meet the needs of Christian
families, businesses, schools and other organizations. The company's primary
product lines are online resources designed to create a safe Internet
environment including filtered Internet access and content management software.
iExalt's family of companies also includes an electronic
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publishing division; Christian magazines, newspapers and an events calendar; a
Christian speaker's bureau; a daily radio program; a purchasing association; and
healthcare management services for senior adults. For more information and a
complete list of the company's web sites, visit WWW.IEXALT.COM, "THE CHRISTIAN'S
GATEWAY TO THE WEB."
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.
INVESTOR CONTACT: MEDIA CONTACT:
SHARON KIMMEL DON KING
IEXALT, INC. BATES CHURCHILL INVESTOR RELATIONS
281-600-4000 713-267-7280
[email protected]
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