----------PRESS RELEASES----------
[LMKI LOGO HERE]
LMKI ANNOUNCES THE RETIREMENT OF MORE THAN TWELVE MILLION SHARES OF
COMMON STOCK AND TWO MILLION UNEXERCISED OPTIONS HELD BY WILLIAM J. KETTLE
PER AN AMENDMENT TO WILLIAM J. KETTLE'S SEVERANCE AGREEMENT, LMKI WILL
REDUCE ITS ISSUED AND OUTSTANDING COMMON SHARES SIGNIFICANTLY
IRVINE, California - NOVEMBER 28, 2000 - LMKI (OTCBB: LMKI), a single source
Managed Service Provider (MSP), today announced that the Company has retired
more than twelve million shares of its issued and outstanding common stock and
two million unexercised options held by William J. Kettle.
Under the agreement, LMKI will pay an aggregate amount of $1,000,000 for
cancellation of the shares and options. The purchase price will be added to the
principal of the existing promissory note owed to Mr. Kettle and will be paid
during the 2001 fiscal year for immediate cancellation of the shares and
options. The promissory note is secured by the pledge of 5,000,000 shares of
common stock owned by Bryan L. Turbow, President and CEO, LMKI.
"This transaction dramatically increases shareholder value by reducing the
number shares outstanding, and by decreasing the number of shares expected to be
sold in the open market. This transaction is accretive to our shareholder value,
and is expected to facilitate future financing by the Company," stated Bryan L.
Turbow, President and CEO, LMKI.
As a result of this cancellation, Kettle will own less than 2,000,000 shares of
common stock and is no longer a majority shareholder. Additionally, LMKI agreed
to permit Kettle to gift 971,000 shares of LMKI common stock to SpeeDSL,
provided that SpeeDSL does not sell more than 5,000 shares a day.
ABOUT LMKI
LMKI (OTCBB:LMKI) IS A SINGLE SOURCE MANAGED SERVICE PROVIDER (MSP)
SPECIALIZING IN PRIVATE NETWORKING, BROADBAND INTERNET ACCESS, INTERNET AND
INTRANET BASED WEB HOSTING, HOSTED APPLICATION SERVICES, INTELLIGENT ROUTING AND
CONTENT DELIVERY SERVICES, NETWORK AND SYSTEMS MANAGEMENT, AND PROFESSIONAL
SERVICES. LMKI'S EXTENSIVE EXPERIENCE IN DEPLOYING ENTERPRISE PRIVATE NETWORKING
SOLUTIONS HAS RESULTED IN A PROPRIETARY TECHNOLOGY CALLED REAL PRIVATE
NETWORK(TM) (RPN) (TM). OUR RPN(TM) INFRASTRUCTURE ENABLES CUSTOMERS TO
OUTSOURCE ALL OF THEIR BUSINESS COMMUNICATIONS NEEDS, WHILE ENSURING THE HIGHEST
LEVEL OF SECURITY AND RELIABILITY. OUR SOLUTIONS OFFER UNPARALLELED VALUE
THROUGH OUR PROPRIETARY NETWORK DESIGN AND ENABLING TECHNOLOGIES, WHICH
EFFICIENTLY LEVERAGE OUR PARTNERS' NETWORK CAPACITY.
More information regarding lmki may be found at www.lmki.net or by
sending e-mail to [email protected]. For sales inquiries, send e-mail to
[email protected], for agent inquiries, send e-mail to [email protected].
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"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM
ACT OF 1995: EXCEPT FOR HISTORICAL INFORMATION, THE MATTERS DISCUSSED IN THIS
NEWS RELEASE MAY BE CONSIDERED FORWARD-LOOKING STATEMENTS COULD BE SUBJECT TO
CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE THE ACTUAL RESULTS TO DIFFER
MATERIALLY FROM THOSE PROJECTED. THESE INCLUDE UNCERTAINTIES IN THE MARKET,
COMPETITION, LEGAL, SUCCESS OF MARKETING EFFORTS AND OTHER RISKS DETAILED FROM
TIME TO TIME IN THE COMPANY'S SEC REPORTS. THE COMPANY ASSUMES NO OBLIGATION TO
UPDATE THE INFORMATION IN THIS RELEASE.
Company Contact:
LMKI, Inc.
Barry Turbow/EVP Business Development
(949) 794-3000
[email protected]
www.lmki.net
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