Business Editors/High-Tech Writers
ROCKVILLE, Md.--(BUSINESS WIRE)--April 14, 2004
WorldTeq Group International Inc. (OTC BB:WTEQ) a full-service solutions provider of Affinity Services including Long Distance, Financial Services, Internet Connectivity, and Hosting Services announces the launch of MundoTeq, a service company that will target the Spanish speaking population in the United States with services such as long distance, Internet access and financial products.
There are 35.3 million Hispanics in the United States, comprising 12.5% of the total population. According to the Census Bureau, Hispanics accounted for 40% of the total population growth in this country between 1990 and 2000. Over 28 million residents over age 5 speak Spanish in their home, greater than 10% of the United States population. This figure is up from 17 million in 1990. There are 1.2 million Hispanic owned businesses employing 1.4 million people and generating about $190 billion in revenues annually. Additionally it is the fastest growing demographic for Internet usage, as 5.8% of the people that use the Internet list Spanish as their primary language, trailing only English, Japanese and German
"According to statistics there are over 22 Million people living in America today that speak Spanish as their primary language, and 14 million that speak almost no English. The perception is that this population represents poor immigrants. Statistics show the opposite. The average household income is nearly $34,000 annually and increasing quickly. WorldTeq strongly believes that these individuals are often overlooked when organizations choose their target market. We believe such a niche market has a strong affinity and by catering to this group of people we can significantly enhance our revenue and customer growth. We have spent substantial time and effort developing www.mundoteq.com, which will be a Spanish language portal that will contain valuable information and links to other Spanish language sites for things such as news, entertainment, shopping and the like. It will be a one-stop venue for those that desire Spanish information and products. It is an approach that will lend itself to adding loyal customers and by capturing this audience we will be able to add additional revenue streams such as advertising and cross product promotions," stated Jeff Lieberman, CEO of WorldTeq.
Lieberman continued, "The highlight of the site will be the offering of our services to the Spanish speaking market. We will immediately launch our long distance program that will provide all information in Spanish including content, sign up forms, billing and, customer service, a unique service for telecom users. We are currently under final negotiations to partner with an Internet Service Provider that will allow us to offer dialup Internet access with all the components in Spanish. WorldTeq strongly believes in niche marketing and will continue to add products that cater to niche markets. A marketing campaign will begin in conjunction with the site launch. This campaign will include print advertising, radio, web marketing and outbound calling to increase traffic to the site. While most of our competitors recognize this market niche and even target this niche on a servicing or inbound basis, they are not proactive in a marketing approach to attract these customers, especially on the Internet. It will allow us to capture market share very quickly from a virtually untapped market. Because of the strong affinity of this target group, we expect to see revenues increase several fold due to the marketing campaign."
MundoTeq will officially launch in the next sixty days. Pre-launch information will be available at www.mundoteq.com on or before Monday April 19,2004.
About WorldTeq Group International
WorldTeq Group International offers a wide range of telecommunications, merchandising and financial services with related products via independent agents, associations, sales organizations and affiliate marketing.
For more information visit the company's Web Site at http://www.worldteqgroup.com.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements.
Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by WorldTeq) contains statements that are forward-looking, such as statements relating to consummation of the transaction, anticipated future revenues of the companies and success of current product offerings.
Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of WorldTeq Group International.
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