Vizacom Sells Its Software Operations Company to Receive $1,137,500 From Serif

Apr 02, 2001, 01:00 ET from Vizacom Inc.

    BOHEMIA, N.Y., April 2 /PRNewswire/ -- Vizacom Inc. (Nasdaq:   VIZY) today
 announced that it has completed the sale of its software and visual
 communications operations.
     Under terms of an agreement dated March 31, 2001, Vizacom has sold the
 entire issued share capital its Serif subsidiaries, its contact centers and
 the web site URL of VisualCities.com to the management of the Serif companies.
 Vizacom received part of the total payments of $1,137,500 from the Serif
 companies prior to closing and is entitled to receive the remainder over time.
     Additionally, Serif will license the software products published by
 Vizacom's SPC subsidiary under SPC's "Harvard Graphics" and other brand names
 and will operate SPC's Harvard Graphics website.  Vizacom also will receive a
 royalty on sales of SPC products and on Serif products sold under SPC brands.
     "This transaction represents the culmination of the restructuring strategy
 the Company adopted in January 2001 to divest its visual communications
 (including software) and international operations to focus on its
 comprehensive professional Internet and technology solutions for the U.S.
 market.  With the sale of these operations now complete, we intend to focus
 our energy, resolve and resources on further developing the core advantages of
 our Vizy Interactive business and enhancing its competitive position in the
 domestic market for professional Internet and technology solutions.  We expect
 that the payments from Serif will provide a significant portion of our working
 capital requirements for the next twelve months.  We look forward to
 concentrating on our core Vizy Interactive business and intend to establish
 positive cash flow from operations in the second half of the year, if we can
 overcome the current difficult economic and industry climate," said Vincent
 DiSpigno, president of Vizacom.
 
     About Vizacom
     Vizacom Inc. (Nasdaq:   VIZY) is a provider of professional Internet and
 technology solutions.  Through its Vizy Interactive New York and Vizy
 Interactive-PWR Systems subsidiaries, Vizacom develops and provides leading
 companies with a comprehensive range of service and product solutions,
 including: business strategy formation; web interface design and branding;
 e-commerce and web-content management applications; creative media solutions;
 systems planning, development and integration; and data center services.
 Vizacom's clients primarily consist of established companies that seek to
 leverage technology to build stronger and more profitable businesses.  The
 Company has formed long-term client relationships with several of the world's
 foremost companies: Computer Associates, Martha Stewart Living, SoBe Beverage,
 MTV Networks, Bozell Group (a True North Company), Simon & Schuster, Avon
 Products, Petrossian Paris, Schering-Plough and Sony Music. For more
 information, visit http://www.vizacom.com.
 
     Safe Harbor
     Matters set forth herein may include forward-looking statements involving
 risks and uncertainties that could cause actual results to differ.  Potential
 risks and uncertainties include, but are not limited to, the market acceptance
 and amount of sales of the Company's Internet and technology solutions and
 computer products; the Company's ability to facilitate and support the growth
 of its core businesses; the Company's ability to integrate or coordinate the
 operations of its businesses; the Company's ability to hire, train, motivate
 and retain employees; the competitive environment within the Company's
 industries; economic conditions; and the Company's ability to raise additional
 capital.  Investors are directed to consider other risks and uncertainties as
 discussed in documents filed by the Company with the SEC.
 
 

SOURCE Vizacom Inc.
    BOHEMIA, N.Y., April 2 /PRNewswire/ -- Vizacom Inc. (Nasdaq:   VIZY) today
 announced that it has completed the sale of its software and visual
 communications operations.
     Under terms of an agreement dated March 31, 2001, Vizacom has sold the
 entire issued share capital its Serif subsidiaries, its contact centers and
 the web site URL of VisualCities.com to the management of the Serif companies.
 Vizacom received part of the total payments of $1,137,500 from the Serif
 companies prior to closing and is entitled to receive the remainder over time.
     Additionally, Serif will license the software products published by
 Vizacom's SPC subsidiary under SPC's "Harvard Graphics" and other brand names
 and will operate SPC's Harvard Graphics website.  Vizacom also will receive a
 royalty on sales of SPC products and on Serif products sold under SPC brands.
     "This transaction represents the culmination of the restructuring strategy
 the Company adopted in January 2001 to divest its visual communications
 (including software) and international operations to focus on its
 comprehensive professional Internet and technology solutions for the U.S.
 market.  With the sale of these operations now complete, we intend to focus
 our energy, resolve and resources on further developing the core advantages of
 our Vizy Interactive business and enhancing its competitive position in the
 domestic market for professional Internet and technology solutions.  We expect
 that the payments from Serif will provide a significant portion of our working
 capital requirements for the next twelve months.  We look forward to
 concentrating on our core Vizy Interactive business and intend to establish
 positive cash flow from operations in the second half of the year, if we can
 overcome the current difficult economic and industry climate," said Vincent
 DiSpigno, president of Vizacom.
 
     About Vizacom
     Vizacom Inc. (Nasdaq:   VIZY) is a provider of professional Internet and
 technology solutions.  Through its Vizy Interactive New York and Vizy
 Interactive-PWR Systems subsidiaries, Vizacom develops and provides leading
 companies with a comprehensive range of service and product solutions,
 including: business strategy formation; web interface design and branding;
 e-commerce and web-content management applications; creative media solutions;
 systems planning, development and integration; and data center services.
 Vizacom's clients primarily consist of established companies that seek to
 leverage technology to build stronger and more profitable businesses.  The
 Company has formed long-term client relationships with several of the world's
 foremost companies: Computer Associates, Martha Stewart Living, SoBe Beverage,
 MTV Networks, Bozell Group (a True North Company), Simon & Schuster, Avon
 Products, Petrossian Paris, Schering-Plough and Sony Music. For more
 information, visit http://www.vizacom.com.
 
     Safe Harbor
     Matters set forth herein may include forward-looking statements involving
 risks and uncertainties that could cause actual results to differ.  Potential
 risks and uncertainties include, but are not limited to, the market acceptance
 and amount of sales of the Company's Internet and technology solutions and
 computer products; the Company's ability to facilitate and support the growth
 of its core businesses; the Company's ability to integrate or coordinate the
 operations of its businesses; the Company's ability to hire, train, motivate
 and retain employees; the competitive environment within the Company's
 industries; economic conditions; and the Company's ability to raise additional
 capital.  Investors are directed to consider other risks and uncertainties as
 discussed in documents filed by the Company with the SEC.
 
 SOURCE  Vizacom Inc.