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Prospectus Supplement filed pursuant to Rule 424(b)(3)
in connection with Registration Statement No. 333-83885
VCAMPUS CORPORATION
Prospectus Supplement No. 4 dated April 28, 2000
(To Prospectus dated November 18, 1999)
5,588,429 shares of common stock
The following paragraphs are hereby added to the disclosure, to be
inserted at the next to last paragraph under the heading "Prospectus Summary -
Our Company":
On April 26, 2000, the Registrant issued a press release stating as follows:
U S WEST(R) Selects Powerful, Complete Distance Learning Solutions From
VCampus To Provide Customers Innovative, Advanced Online Education
Options
--U S WEST Business, Government and Academic Customers Can Now Have
Access To Unique Online Learning Management and Courseware
Creation Tools, and an Extensive Course Library--
DENVER-- Businesses, government organizations, schools and universities
that are increasingly turning to distance learning for staff and student
training can now access powerful and versatile online and custom course
creation services, and an extensive library of courses, as a result of a
new strategic relationship between U S WEST (NYSE: USW) and VCampus
(NASDAQ: VCMP). U S WEST will simultaneously take a minority equity stake
in VCampus.
Together, U S WEST Hosting Solutions and VCampus, a leading application
service provider of remotely hosted, web-based education and training
delivery solutions, will offer a diverse collection of courses tailored
for distance learning as well as end-to-end courseware design and
integration tools that can enable businesses and organizations to create
and conduct their own customized online courses.
VCampus' complete distance learning solution includes a student
management system, course delivery engine, more than 300 off-the-shelf
courses and courseware construction services. The well-rounded library of
off-the-shelf courses is designed to meet the educational needs of
businesses in areas such as IT, management, telecommunications, office
skills and compliance. The company can help business customers to easily
manage the enrollment, registration, tracking, testing, grading,
administration and certification of distance learners.
"Web-hosted online learning is no longer a 'future thought,'" said Janice
Aune, president, U S WEST !NTERPRISE Networking. "It's here today and it
is one of the most powerful and effective way to equip employees with the
knowledge they need to stay proficient.
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By teaming with VCampus, we're able to provide our customers with an
unparalleled distance learning solution."
Web-based education is fast becoming the preferred learning environment.
According to International Data Corporation, the percentage of tech-based
training is projected to triple over the next three years. The global
training market is estimated to be approximately $60 billion in size.
"VCampus brings a proven, turn-key e-Learning solution to U S WEST's
customers, allowing them, in turn, to provide e-Learning to their
employees, students and channel partners," said Nat Kannan, CEO and
President of VCampus. "e-Learning can save U S WEST customers over
traditional classroom instruction by helping to reduce or eliminate
travel, facilities, instructor and materials costs."
U S WEST Hosting Solutions will host the courseware at the U S WEST
Network Operations Center in Minneapolis. U S WEST Hosting Solutions is
an Application Service Provider (ASP) that delivers platform, Web, and
application-hosting solutions to businesses of all sizes, and combines
the networking expertise of U S WEST with industry-leading application
providers and integrators to offer end-to-end solutions for businesses,
regardless of the level of outsourcing they require. It gives businesses
a single source for multiple IT functions such as platform hosting and
web hosting, as well as network-based access to business applications and
the resources needed to support them.
ABOUT U S WEST
U S WEST (NYSE: USW) is a leading broadband and communications service
provider, with more than $13 billion in annual revenues. U S WEST leads
the industry in deploying next-generation broadband ADSL and VDSL
Internet access and data/video services; offers the nation's first and
only 'one-number' advanced wireless service that integrates customers'
home or business phones with their wireless PCS; and provides multimedia
advertising services, including Internet & print directories. The company
has nearly 2 million miles of deployed fiber in the U.S., provides local
exchange services to more than 25 million customers in 14 states, and
provides wireless services to more than 500,000 customers and data
services to more than 800,000 customers nationally.
U S WEST is merging with Qwest Communications International Inc. The
combination, to be named Qwest Communications International Inc., will
create a communications powerhouse with a market capitalization of more
than $70 billion, headquartered in Denver and employing about 64,000
people worldwide. U S WEST and Qwest will unite the nation's most
innovative local, wireless and broadband communications firm with one of
the world's most advanced fiber-optic networks and broadband Internet
providers. Together, the two firms will have more than 3 million miles of
deployed fiber in the U.S. and worldwide, 29 million customers and a
local network that is 99.2 percent digitally switched. For more
information about U S WEST, go to http://www.uswest.com.
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With the exception of the historical information contained in the
release, the matters described herein contain forward-looking statements
that are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking statements
involve a number of risks and uncertainties including but not limited to
difficulties in managing rapid growth (including future capital needs),
development of its target market, risks associated with acquisitions, and
economic, competitive, governmental and technological factors outside the
control of the Company. For more information regarding these risks and
uncertainties see the Company's Registration Statement on Form S-1 and
other SEC filings, copies of which are available upon request from the
Company.
As part of the Company's strategic relationship with US West, US West
invested $2.5 million for the purchase of 357,143 shares of VCampus common stock
at $7.00 per share and received five-year warrants to purchase up to $5 million
of additional shares of common stock at that price. One-half of these warrant
shares are immediately exercisable and the remaining shares become exercisable
after one year. US West was also granted the right to designate one of its
representatives for election to the VCampus Board.