Exhibit 99.1
Press Release
NETCURRENTS AND KROLL RISK CONSULTING SERVICES TO FORM EXCLUSIVE GLOBAL
STRATEGIC ALLIANCE TO OFFER ENHANCED INTERNET INTELLIGENCE SERVICES TO
CORPORATIONS, INDIVIDUALS, GOVERNMENTS
KROLL TO RECEIVE WARRANTS TO PURCHASE UP TO 5 PERCENT OF NETCURRENTS
COMMON STOCK AT $4.00 PER SHARE
BURLINGAME, Calif. & NEW YORK (Aug. 2, 2000) NetCurrents Inc. (Nasdaq:NTCS), The
Premier Internet Intelligence Agency, and Kroll Risk Consulting Services
division ("Kroll") of the Kroll-O'Gara Company (Nasdaq: KROG), today jointly
announced that they have executed a Letter of Intent for the formation of an
exclusive global strategic alliance to offer enhanced Internet intelligence
services to corporations, individuals and governments.
The strategic alliance will allow Kroll and NetCurrents to provide their clients
around the world with a full range of risk mitigation and asset protection
services.
Kroll is a leading worldwide investigations and intelligence firm, servicing
more than 25,000 clients through its global network of 60 offices in 19
countries. The companies will share offices in major cities throughout the world
where Kroll is currently based.
Under the terms of the alliance, NetCurrents and Kroll will establish an
exclusive Internet based product line, designed specifically for the
investigations, intelligence and security markets, using the NetCurrents and
Kroll brand names and integrating NetCurrents' patent pending, real time,
proprietary FIRST technology (Fast Internet Real-Time Search Technology).
Supported by a focused marketing campaign, the companies will utilize a joint
sales force of approximately 165 people from both companies, who will sell the
products to the worldwide investigations, intelligence and security markets.
Kroll and NetCurrents will also expand Kroll's existing periodicals, as well as
creating new on-line and off-line information sources for their clients through
such journals as "Navigator" and "Travel Watch," two widely disseminated Kroll
publications.
According to NetCurrents chairman and CEO Irwin Meyer, "As part of the Letter of
Intent, NetCurrents has granted Kroll warrants for the right to purchase up to
five percent (5%) of NTCS Common Stock over a three year period, based on
certain performance criteria and the execution of the long form agreement. The
exercise price of the warrants, which is $4 per share, is based on a premium to
the current market price for NTCS Common Stock."
Michael Cherkasky, the president and COO of Kroll commented: "With the rise in
Internet fraud and the dissemination of malicious misinformation, the need to
protect corporate assets and mitigate risk has never been greater. As a
long-standing leader in the investigations, intelligence and security
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industry, we understand the impact of the Internet, its potential to cause
serious corporate damage, and the need to mitigate that risk. We concluded that
with NetCurrents' proprietary technology, we would be in a position to now offer
our clients the broadest range of real-time investigations, intelligence and
security solutions available anywhere."
Meyer added: "This alliance will combine the synergies of two market leaders
which we believe will offer corporations, individuals and governments the most
complete package of comprehensive, seamless Internet intelligence solutions
available today from real-time notification of misinformation to thorough
investigation and tracking services. The combination of Kroll's and NetCurrents'
expertise will allow us to jointly offer solid solutions that will aggressively
assist corporations in combating the global proliferation of Internet fraud,
protecting their reputations and guarding their shareholder value."
ABOUT KROLL RISK CONSULTING SERVICES
Kroll Risk Consulting Services is one of the world's leading investigations,
intelligence and security firms. With offices on six continents, Kroll is
positioned to assist clients in assessing opportunities and solving risk related
problems in today's global marketplace. For more information about the company
and its services, visit WWW.KROLLWORLDWIDE.COM.
ABOUT NETCURRENTS INC.
NetCurrents, The Premier Internet Intelligence Agency, analyzes communications
from more than 50,000 targeted Internet locations in real-time. The company
provides clients critical information and counsel to protect their corporate
image, measure consumers' perceptions and counter misinformation on the
Internet. Due to the sensitivity of businesses that require this type of
technology and analysis, the confidentiality of NetCurrents' clients is assured.
For more information about the company and its products and services, visit the
Web site at WWW.NETCURRENTS.COM.
This news release contains forward-looking statements within the meaning of
Section 37A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. These forward-looking statements involve risks and
uncertainties. A number of factors could cause actual results to differ from
those indicated in the forward-looking statements, including the failure to
negotiate and execute the long form agreement, the inability of the two
companies to operate effectively together and lack of market acceptance of the
products and services offered by the alliance and general economic conditions.
The company undertakes no obligation to publicly update or revise the
forward-looking statements whether as a result of new information, future events
or otherwise.
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CONTACT:
For NetCurrents Inc.
Allen & Caron Inc.
Matt Clawson, 949/474-4300 (investors)
[email protected]
Seth Feller, 949/474-4300 (media)
[email protected]
or
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For Kroll Risk Consulting Services
The Kroll O'Gara Company
Michael Beber, 212/833-3304
mbeber@kroll-ogara
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