Exhibit No. 2
Form 8-K
ENG Enterprise, Inc.
File No. 000-11225
Exhibit 2
PRESS RELEASE
ENG ENTERPRISES ACQUIRES GLOBAL ONLINE INDIA
SALT LAKE CITY, UTAH, JULY 14, 2000: ENG Enterprises, Inc., a
publicly owned Delaware corporation, currently trading on the
NASDAQ OTC Bulletin Board under the symbol "ENEI", and Global
Online India, registered as GOL India.com, Inc., a privately held
Delaware corporation, have concluded an exchange of shares, with
ENG Enterprises acquiring 100% of the shares of GOL India. ENG
Enterprises will apply for a name change to "GOL India.com, Inc."
and symbol change as a result of this acquisition. The new ENG
Enterprises board of directors has also voted a 200% stock
dividend to be issued, which will bring the total outstanding
shares to 50,004,275.
Global Online India was established to provide e-commerce
services and e-business solutions to consumers and business in
India and around the world through its fully-owned subsidiary GOL
India Portal Private Limited, a New Delhi company, and will
provide Internet access and web hosting services to residential
and business customers through a 49% ownership of GOL India
Internet Services Provider Private Limited ("GOL ISP"), a New
Delhi company doing business as of March 12, 1998. Subject to
approval by the Government of India, the transfer of this 49%
interest in GOL ISP from another wholly owned subsidiary by GOL
India's parent company, USA Global Link, Inc., is expected within
30 days.
GOL India Portal operates the Indian meta-hub "www.GOLIndia.com",
which is Global Online India's e-commerce hub providing online
services to the 20.0 million Indian expatriate population around
the world in the following categories: news, chat, Bollywood, e-
greetings, tickets, sports, stocks, auctions, classifieds, yellow
and white pages, and jobs.
GOL India ISP received on June 7, 1999 a "Category A" national
ISP license issued by the Government of India. This license
authorizes Global Online India, when fully operational, to
provide Internet access services through 108 points-of-presence
located in every major city of
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India. GOL ISP also signed on October 24, 1999 a memorandum of
understanding with Uttar Pradesh Development Systems Corporation
Limited (UPDESCO). This government-owned corporation serves the
state of Uttar Pradesh, the largest of 29 states in India, with a
population of approximately 170.0 million.
Global Online India is affiliated with Global Online, Inc. (GOL),
an international meta-hub portal at "www.GlobalOnline.com". GOL
is the global gateway to international life and world trade
providing services through its 5,680 web sites.
This press release contains forward-looking statements that are
subject to risks and uncertainties. Any statements that are not
statements of historical fact (including without limitation
statements to the effect that the Company or its management
"believes," "expects," "anticipates," "plans" and similar
expressions) should be considered forward-looking statements.
Factors that could cause actual results to differ materially from
these forward-looking statements include, but are not limited to,
uncertainties related to demand for the company's services; costs
of operation; changes in laws or regulations or in their
interpretation; technological changes; economic conditions and
other risks described from time to time in the Company's filings
with the Securities and Exchange Commission.
CONTACT:
Dr. Lee Fergusson
President and COO
GOL India.com, Inc.
Tel. 1-515-472-1550
[email protected]
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