Scoop, Inc. Renames and Rationalizes European Operations

Apr 03, 2001, 01:00 ET from 24Holdings Inc.

    NEW YORK, LOS ANGELES, LONDON, and STOCKHOLM, Sweden, April 3 /PRNewswire/
 -- 24Holdings Inc., formerly Scoop, Inc., (OTC Bulletin Board:   SCPIe), as at
 April 2 2001 completed the formalities associated with the amendment of the
 certificate of incorporation to rename the Company and sold its Norwegian
 subsidiary 24STORE AS.
     The structure of the Norwegian subsidiary did not fit with 24Holdings
 mobile computing, wireless data and connectivity products focus and the
 investments necessary to establish the right structure within 24STORE AS, when
 combined with operating losses incurred by the Norwegian subsidiary, lie
 behind the decision to sell the company.
     As investments in 24STORE AS were fully provided for in 1999 and 2000 no
 capital losses will be incurred and the sale will improve earnings for the
 group.  The 24STORE brand is not part of the sale, remaining the property of
 24STORE (Europe) Limited.
     Dr. Lennart Orkan, Chairman of the Board of 24Holdings Inc., commented:
 "The sale of this subsidiary is a good outcome for all concerned, protecting
 the staff within 24STORE AS and the operating integrity of the group.
 Management can now concentrate their efforts on the continued expansion of
 24STORE (Europe) within the mobile computing, wireless data and connectivity
 arenas and the continued operating profitability of the remaining members of
 the group."
     "This was the last item on the agenda for corrective action from the
 previous operations.  The way is now clear for us to capitalize upon the
 relationships we have secured within the larger 24Holdings/InfiniCom group and
 external initiatives such as the recently announced joint venture between
 InfiniCom and Wireless Assets Inc.  I believe the future will be very
 interesting and far more productive than the recent past," Dr. Orkan
 concluded.
 
     About 24Holdings Inc.
     24Holdings Inc., via its wholly owned subsidiary 24STORE (Europe) Limited
 is one of Europe's earliest established new technology companies.
 Specializing in mobile computing and wireless data and connectivity products,
 headquartered in the United Kingdom and with existing on and off-line
 operations 24STORE provides an array of leading technology and associated
 products to both businesses and consumers in Europe.
 
     Statements in this Press Release that are not purely historical are
 "forward-looking statements" within the meaning of Section 27A of the
 Securities Act of 1933, as amended, and Section 21E of the Securities Exchange
 Act of 1934, as amended, including statements regarding the expectations,
 hopes, beliefs, intentions or strategies of 24Holdings Inc.  All forward
 looking statements included in this Press Release are based on information
 known to 24Holdings Inc. on the date hereof, and 24Holdings Inc. does not
 assume any obligation to update any such forward looking statements.
 
 

SOURCE 24Holdings Inc.
    NEW YORK, LOS ANGELES, LONDON, and STOCKHOLM, Sweden, April 3 /PRNewswire/
 -- 24Holdings Inc., formerly Scoop, Inc., (OTC Bulletin Board:   SCPIe), as at
 April 2 2001 completed the formalities associated with the amendment of the
 certificate of incorporation to rename the Company and sold its Norwegian
 subsidiary 24STORE AS.
     The structure of the Norwegian subsidiary did not fit with 24Holdings
 mobile computing, wireless data and connectivity products focus and the
 investments necessary to establish the right structure within 24STORE AS, when
 combined with operating losses incurred by the Norwegian subsidiary, lie
 behind the decision to sell the company.
     As investments in 24STORE AS were fully provided for in 1999 and 2000 no
 capital losses will be incurred and the sale will improve earnings for the
 group.  The 24STORE brand is not part of the sale, remaining the property of
 24STORE (Europe) Limited.
     Dr. Lennart Orkan, Chairman of the Board of 24Holdings Inc., commented:
 "The sale of this subsidiary is a good outcome for all concerned, protecting
 the staff within 24STORE AS and the operating integrity of the group.
 Management can now concentrate their efforts on the continued expansion of
 24STORE (Europe) within the mobile computing, wireless data and connectivity
 arenas and the continued operating profitability of the remaining members of
 the group."
     "This was the last item on the agenda for corrective action from the
 previous operations.  The way is now clear for us to capitalize upon the
 relationships we have secured within the larger 24Holdings/InfiniCom group and
 external initiatives such as the recently announced joint venture between
 InfiniCom and Wireless Assets Inc.  I believe the future will be very
 interesting and far more productive than the recent past," Dr. Orkan
 concluded.
 
     About 24Holdings Inc.
     24Holdings Inc., via its wholly owned subsidiary 24STORE (Europe) Limited
 is one of Europe's earliest established new technology companies.
 Specializing in mobile computing and wireless data and connectivity products,
 headquartered in the United Kingdom and with existing on and off-line
 operations 24STORE provides an array of leading technology and associated
 products to both businesses and consumers in Europe.
 
     Statements in this Press Release that are not purely historical are
 "forward-looking statements" within the meaning of Section 27A of the
 Securities Act of 1933, as amended, and Section 21E of the Securities Exchange
 Act of 1934, as amended, including statements regarding the expectations,
 hopes, beliefs, intentions or strategies of 24Holdings Inc.  All forward
 looking statements included in this Press Release are based on information
 known to 24Holdings Inc. on the date hereof, and 24Holdings Inc. does not
 assume any obligation to update any such forward looking statements.
 
 SOURCE  24Holdings Inc.