Updated: 5.04.2000 00:00
Fountain Valley, Calif., April 4, 2000 – eSAT, Inc. (OTC: ASAT, FRANKFURT: ES8), a broadband satellite and last mile wireless service provider, announced today that it has signed a Letter of Intent with PT. Jaring Data Interaktif (JDI). eSAT and JDI have agreed to form a joint venture, eSAT Indonesia Inc., to operate broadband wireless internet services in Indonesia. This agreement is subject to the approval by the Board of Directors of both companies and all required regulatory approvals.
JDI, which is 90% will be owned by AcuBid.com Inc. (OTCBB:EBID) of Carlsbad California, will provide eSAT Indonesia with sales, marketing and distribution channels in addition to existing network infrastructure. Under the joint venture, eSAT will deliver a high-speed satellite connection to Indonesia and distribute the bandwidth using its last mile wireless technology.
“eSAT is the ideal partner due to its integrated last mile wireless solution and its patent pending satellite backbone technology which will bring the first fiber like Internet access speeds to the Indonesian marketplace,” stated Dicky Iskandar di Dinata, president and chief executive officer of JDI.
“eSAT’s proven technology and expertise in wireless networking will enable JDI to meet its objective of becoming the leading ISP, content provider and e-commerce site for Asia and in particular Indonesia,” commented Steven Tulk, Senior VP Business Development of eSAT. “This is a strong indication of the acceptance of our technology as we expand our services to the international market place and implement our global satellite network,” said Tulk.
About PT. Jaring Data Interaktif (JDI)
JDI provides both dial-up and broadband Internet services for Indonesian customers. JDI has licenses and contracts to exclusively market a wide range of content from media sources, including TV stations, radio stations, cable TV and newspapers. JDI holds the Internet marketing rights for: 15 radio stations across Indonesia; Datakom Asia, Indonesia’s largest Direct TV company; SCTV, Indonesia’s third largest national television station; Indonesia TV guide and other national media publications, including Indonesian Observer, one of the largest English-Indonesian daily newspapers. In addition, JDI owns Asia Connect, a start-up ISP, and Mesana Investments, a stock brokerage company.
About eSAT, Inc.
eSAT, Inc. is a broadband service provider via satellite and microwave. The company’s core products provide Internet access and networking services through its Global Satellite Internet (GSI) gateway and its Nexstream product, with bi-directional communications. eSAT, Inc.’s Nexstream provides organizations with untethered, secure, transportable, cost-effective, global communications, regardless of their communications infrastructure. eSAT, Inc.’s ChannelCasting Service (IP multicasting) provides delivery for consistent, accurate, secure and reliable content instantaneously within an eSAT, Inc. Virtual Private Network (VPN) or Private Network (PN). Additionally, eSAT is providing Business Continuity services through its Nexstream product as a reliable back up and a preventative measures to business interruption from land line failure. Information about eSAT, Inc. is available by calling (888) 895-0007 or by visiting www.esatinc.com.
Certain statements in this new release may constitute “forward looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Such forward looking statements involve risks (including the risk that the transaction will not be completed), uncertainties, and other factors, which may cause the actual results, performance, or achievement expressed or implied, by such forward looking statements to differ.
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