<PAGE> 1
EXHIBIT 99.4
FLIGHTSERV.COM CLOSES ACQUISITION OF INTERNET AVIATION SERVICES
FOR 1.75 MILLION COMMON SHARES
ATLANTA, GA AUGUST 25, 2000 - flightserv.com (AMEX:FSW) today announced that it
has acquired Internet Aviation Services, Ltd. ("IASL") in consideration for
1,750,000 common shares. The closing of the IASL acquisition is the first of a
series of strategic transactions approved by flightserv.com's Board of Directors
that will provide a substantial capital infusion, new management leadership and
related businesses to strengthen flightserv.com's operations and permit the
continued development of the company's existing business. As part of the
acquisition of IASL, flightserv.com approved employment agreements with Kent R.
Elsbree and Anthony C. Evans. IASL is a new, innovative leisure and business
travel service company at www.iaviationservices.com. Presently, IASL has
contracts pending for $9,000,000 to provide air private charter services
beginning in December 2000 and continuing for 12 months.
In connection with today's announcement, Todd Bottorff, President of
flightserv.com stated that "With the acquisition of IASL, flightserv is bringing
two proven charter operators who can both build IASL's travel service business
and provide operational synergies to strengthen and expand flightserv's existing
offering of individual seats on private jets. The acquisition also expands our
strategic scope from the business travel segment to include the leisure traveler
as well."
flightserv.com enables passengers to book individual seats on private jets
between selected cities in the United States. Currently, the company offers
flights between New York's Teterboro Airport (located 7 miles from downtown
Manhattan) and Atlanta's Dekalb-Peachtree Airport (located minutes from
Atlanta's business district). For more information, please visit
www.flightserv.com.
CONTACTS:
Todd Bottorff, flightserv.com
770-986-9791
[email protected]
Kent Elsbree, IASL
770-986-9791
[email protected]
Statements in this news release about anticipated or expected future revenue or
growth or expressions of future goals or objectives are forward-looking
statements within the meaning of Section 21E of the Securities Act of 1934, as
amended. All forward-looking statements in this release are based upon
information available to the Company on the date of this release. Any
forward-looking statements involve risks and uncertainties, including those
risks described in the Company's filings with the Securities and Exchange
Commission, that could cause actual events or results to differ materially from
the events or results described in the forward-looking statements, whether as a
result of new information, future events or otherwise. Readers are cautioned not
to place undue reliance on these forward-looking statements.
