WORLDS.COM SIGNS WEBSITE AGREEMENT
WITH SHINWON TELECOM TO PROVIDE 3D CHAT/ENTERTAINMENT SITE IN KOREAN
Stamford, CT- January 18, 2000 - Worlds.com (OTC/BB: WDDD) today announced an agreement with South Korean-based ShinWon Telecom to create a Korean-language chat and entertainment Website which will be available through the Worlds.com portal and will take advantage of the company's proprietary three-dimensional (3-D) technology.
Financial terms of the transaction were not disclosed. Worlds.com will share revenues with Shinwon for subscriptions and advertising.
ShinWon Telecom is a rapidly expanding, privately held telecommunications and cable television provider in South Korea and is in the process of establishing its presence as a major Internet Service Provider (ISP) by offering e-commerce, online banking and high-speed Internet access via telephone and cable connections.
The ShinWon agreement is the third recent contract signed by Worlds.com with providers based outside the United States. Worlds.com is also the 2-D and 3-D-chat provider to Freeserve in the United Kingdom and last week was chosen by Hong Kong-based e-New Media to create Asian-oriented Internets sites.
Steven G. Chrust, Worlds.com chairman, said, "The growth of the Internet throughout Asia has coincided with the recovery of Asian economies. We are best positioned to provide engaging, interactive sites and content with our three-dimensional technology platform. The fact that we can build environments, which are culturally themed and provided in the languages of individual countries will allow us to take advantage of these dynamic market conditions.
"Because the ShinWon site will be created and reside on our portal," Chrust said, "we will be accessible by the large and growing Korean population in the U.S., also."
Worlds.com, the leading 3-D entertainment portal, leverages its proprietary technology to offer visitors a network of virtual, multi-user environments that have rich media graphics, text chat, voice-to-voice chat, streaming media and e-commerce. The environments are focused around entertainment interests and targeted communities such as music (Hanson World, Bowie World), Sports (Yankees World), and general entertainment environments (beaches, space landings, shopping areas). In the Worlds Avatar Gallery, visitors select an avatar, or 3-D character, and customize it into a personal virtual representation of themselves. The avatar is used to travel in and through the various virtual environments and participate in interactive activities involving entertainment, promotions, or e-commerce. Avatars can chat with one another, dance in a nightclub, e-shop, watch video clips, and participate in other activities.
Forward Looking Statements. Except for any historical information contained herein, the matters discussed in this news release contain forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements. These risks and uncertainties are described in the company's filings with the SEC. Given these uncertainties; prospective investors are cautioned not to place undue reliance on such forward-looking statements. The company disclaims any obligation to update any such factors or to announce publicly the results of any revisions to any of the forward-looking statements contained herein to reflect future events or developments.
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