Business Editors/Technology Writers
SANTA ANA, Calif.--(BUSINESS WIRE)--Feb. 24, 2000
Micro General Corporation (OTC:MGEN), an eCommerce business solutions provider, today announced that escrow.com and its affiliated companies, have signed a contract with solutionhome.com, a global identity services corporation offering clients a wide range of Internet services, naming escrow.com as its eCommerce development partner for transactional-based Internet projects.
The unique solutions offered by escrow.com continue to attract Internet companies, especially those focusing on business-to-business and business-to-consumer transactions. This strategic alliance opens up new markets for the services offered by escrow.com, which are either integrated or linked to the solutionhome.com's Web site.
Buyer's and seller's initiating transactions through solutionhome.com's site now receive the added convenience of several payment options and the comfort that transactions are completed smoothly. Both buyer and seller receive: Secure Internet commerce, Bonded and insured transactions, Multiplicity of payment options, Digital Coupons, Membership benefits, Links to merchandising sites, and a constantly evolving suite of financial and eCommerce services.
"More than $40 million in auctioned domain names is expected to be transacted through escrow.com in year 2000, with European and South American domain auctions to be added in 2001," said Mike Magolnick, solutionhome.com president. "For solutionhome.com, this contract makes a lot of sense because it offers our clients a wonderful value added service and it opens another door of business for both companies since Solutionhome.com offers escrow.com an introduction into one of the fastest growing industries in the domain name industry," Magolnick said.
"We are very pleased to have forged the relationship with an established global Internet identity services company such as solutionhome.com," said escrow.com's president and chief operating officer Mark Attaway. "This `capabilities' collaboration between our two companies will generate faster and more secure services to our mutual clients by enhancing all areas of their business-to-business and business-to-consumer transaction experience," he said.
Micro General Corporation (OTC:MGEN) announced the founding of escrow.com in October 1999. The technology used by the escrow.com operating subsidiaries, including its website and infrastructure, was developed by Micro General. For more than 15 years, Micro General has been a leader in the design of escrow programs and more than 800 installations nationwide. In 1998, Micro General's escrow trust accounting software managed over $100 billion in processed transactions. Currently, the software is responsible for managing escrow balances of more than $1 billion daily.
The escrow.com companies operate independently of Micro General, a majority-owned subsidiary of Fidelity National Financial (NYSE: FNF). After the closure of the Chicago Title acquisition, announced in August 1999, Fidelity will become the largest title and escrow company in the
world.
ABOUT SOLUTIONHOME.COM
solutionhome.com(TM) is the Internet's leading domain name appraisal company and a diverse Internet services company whose business consists of several divisions that include Domain Name Appraisal Services, Domain Name Registration Services, the Domain Name Auction, TechnoImage web design and hosting services and the new DomainTradeLIVE! chat room, where buyers and sellers can negotiate domain sales live. solutionhome.com is also developing a premier Latin American portal site at Quiere.com in addition to managing their exclusive HomePage Galleries. Media Contacts: Mike Magolnick, President; David Goodman, Marketing and Sales.
In December 1999, solutionhome.com was recognized as the fastest growing domain services company on the Internet and the 4th best domain brokerage by Domain Name News. To find out more about the company, visit their Website at: www.solutionhome.com.
ABOUT MICRO GENERAL
A full-service enterprise solutions provider, Micro General Corporation (OTCBB:MGEN), offers a complete range of information technology services, encompassing proven solutions in Systems Integration, Application Development, Real Estate industry applications, and eCommerce. The organization offers fast-growing solutions that maximize mission-critical solutions to national and international companies.
In November 1999, Micro General was ranked The No. 1 Fastest-Growing Company In Orange County This Year by the Orange County Business Journal. It was also listed 47th in the October 1999 Bloomberg Financial Magazine featuring The 100 Fastest-growing U.S. Technology Companies (based on sales growth in their last complete fiscal year). This report lists Micro General among "dynamic companies that are implementing good ideas and clearly doing something right," according to the article.
Micro General has uniquely positioned itself as an international eCommunications solutions provider comprised of the following business units:
ACS Systems, Inc. - provides transformational eBusiness solutions designed to expand business markets and enhance internal efficiencies for any enterprise via the Internet. The company offers custom project-based software solutions specifically targeting the real estate industry that are designed to simplify real estate transactions utilizing trust, escrow and title-related software development capabilities. These products provide proprietary solutions to workflow and document management challenges by electronically connecting all parties involved in real estate transactions. With over 400 current installations these capabilities encompass the development, sales, installation, training, and support capabilities of ACS and MGEN. RealEC, Inc. develops, Operates and maintains a secure business-to-business electronic commerce exchange, connecting more than 150 customers with more than 350 service providers, used to orchestrate real estate settlement services. The company is owned by Santa Ana, Calif.-based Micro General Corporation and Houston-based Stewart Title Company.
Escrow.com(TM) and its operating subsidiaries - offer comprehensive e-commerce solutions that protect both buyers and sellers against fraud and other complications. The companies' architecture and infrastructure is focused on providing an open, secure, scalable and 100 percent reliable business application and is a key component of all major shopping, auction, business-to-business sales, portals and other purchasing sites. The technology used by escrow.com, including its website and infrastructure, was developed by Micro General. For more than 15 years, Micro General has been a leader in the design of escrow programs and has more than 800 installations nationwide. In 1998, Micro General's escrow trust accounting software managed over $100 billion in processed transactions. Currently, the software is responsible for managing escrow balances of more than $1 billion daily. To learn more about escrow.com, visit our Website at: www.escrow.com.
L.D. Exchange.com, Inc. - is a facilities-based, wholesale long-distance carrier providing international telecommunications termination services. As a major strategic component to Micro General's telecommunications and Internet telephony initiative, L.D. Exchange has offices in western and eastern U.S. Today the company delivers both domestic and international termination services and offers a full suite of retail business telecommunications services. Micro General employs more than 250 individuals, primarily in professional and technical positions. To learn more about Micro General Corporation visit our Website at: www.microgeneral.com or call 949.622.3927.
This press release contains forward-looking statements. The words "believe," "except," "intend," "anticipate," and "project," and similar expressions identify forward-looking statements, which speak only as of the date the statement was made. The Company undertakes no obligation to publicity update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
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