Strategic Profits Inc. and Jzala Investments Group
of Saudi Arabia Sign Joint Venture Partnership Agreement
VANCOUVER, British Columbia--(BUSINESS WIRE)--May 11, 2001--
Strategic Internet Investments Incorporated (the "Company") today
announced that Strategic Profits Inc. ("SPI"), traded publicly
through the Company (SPI's parent) under the symbol OSWE -- OTC:BB,
has signed a joint venture partnership agreement with Jzala
Investments Group ("Jzala") of Saudi Arabia to market the
communitystorefronts.com portal and e-commerce solution applications
throughout the Middle East.
The purpose of this partnership is to build and operate a
communitystorefronts.com e-commerce solutions service for the Middle
East and targeted Asian countries. The service will be setup and
operated from the SPI headquarters in Vancouver in conjunction with
Jzala Investments Group from their offices located in Saudi Arabia.
"Our partnership with Jzala Investments Group allows us to
implement a significant portion of our international business
strategy," says Catherine Clarke, President and CEO of
Strategic Profits, Inc. "Jzala, initially, is bringing at least 600
Middle Eastern companies that are ready to move forward with SPI's
e-business solutions which will provide a significant positive impact
on our revenues in late Q4."
About Jzala Investments Group (www.jzalagroup.com)
Jzala is one of the leading business houses, presided over by
Sheikh Saad Bin Saud Al-Arifi. The group started operation in 1967 in
response to the massive infrastructure development in Saudi Arabia. It
made a significant contribution in construction and in electrical,
mechanical and maintenance. Since then it has expanded into real
estate, tourism, trading and information technology. The company's
global trade relations especially with other countries of the Arab
world, Europe and Asia, have encouraged the Group to develop its
E-commerce service facilities. The Chief Executive Officer of the
company, Engineer Nasser Saad Al-Arifi, "sets great store by IT as a
major area of development for the Group in the 21st century."
About Strategic Profits, Inc.
SPI has been providing Internet commerce solutions to small and
medium enterprises, not-for-profit and charities since 1994 including
secure credit card transactions since 1997. SPI provides full Internet
service offerings including online education, web hosting and design,
Internet marketing, secure shopping cart and payment order systems, as
well as secure payment transactions through Moneris Solutions and
through out North American with GPS. Secure cash transactions are
available through their partners, Hyperwallet.com! In 1998 SPI
launched the communitystorefronts.com e-commerce pilot with their
consortium partners Industry Canada, Royal Bank of Canada. Today,
communitystorefronts.com is a fully commercialized portal offering
online shopping, fundraising, and turnkey e-commerce solutions.
http://www.strategicprofitsinc.com. Feb. 1, 2001 SPI, HP Canada Ltd.
and TELUS announced an alliance to deliver a new generation secure
Internet-based credit card payment service...PayPaq(TM)!
For further information about Strategic Profits Inc.
Catherine Clarke
Strategic Profits, Inc.
(604) 684 5671 or
email: cc@strategicprofitsinc.com
www.strategicprofitsinc.com
For more information about Global Development Group Contact:
Gerard Van Der Berg
Managing Director
Global Development Group
Phone: (613) 228-5695
Fax: (613) 226-5777
Gerard@kcenter.com
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