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Wyith acquires major US-based domain registration company, Domain Avenue

Hackensack, New Jersey - November 8, 2000 - Wyith Incorporated announced the acquisition of a major US-based domain registration company, DomainAvenue.com. This transaction reinforces Wyith's community integration business model and helps extend its growing expansion.

DomainAvenue.com was an early entrant in the domain registration market, having started its business in 1996. Since then, DomainAvenue.com has offered domain registration services to over 16,000 customers and has also reserved over 400 generic domain names, including domains in the agriculture/food category, travel, insurance, health care, medicine, Internet services, encryption security, media, news and sports.

Examples of domain names DomainAvenue.com registered include SyndicatedNews.com, M.md, EncryptionSolutions.com, ChemicalProducts.com, and many others.

"We are very pleased that Wyith succeeded in acquiring DomainAvenue.com knowing that other competitors, including Network Solutions, Inc. (Nasdaq:NSOL), had made much more attractive offers. It was clear that our business model had appealed to the President of DomainAvenue.com, Ms. Ruth DiTucci, and that she was satisfied with the promising prospects Wyith had offered. Most of the competitors' offers, including NSI's, were simply after DomainAvenue.com's InternicRegistration.com and InternicRegistrations.com domains whereas Wyith offered DiTucci a chance to have the domains developed." said Dr Raymond Cheng, Managing Director of Wyith Incorporated.

DomainAvenue.com was thoroughly covered by various online media as they turned down Network Solutions' millions offer to take over the company. Ruth DiTucci, President and CEO of DomainAvenue.com, said she would not be interested in selling her company to NSI because she realised that NSI's business model is saturating and is too narrow when compared to Wyith's model. Read more about Wyith's community integration business model

Dr Cheng continued, "Though being tactically variant for Wyith to acquire a cyber-squatter company, adding DomainAvenue.com's domain reserves and its local client base to Wyith will definitely strengthen Wyith's position in the development of Wyith's Internet community. Afterall, Wyith is in no way interested in selling the domain names to any other parties but only to develop them one by one."

"We're not cyber-squatters and we have never supported cyber-squattering. The only reason we acquired DomainAvenue.com is because their domain reserves were an ideal match with our business development. Good names are very important for generating traffic, especially generic online brands, and we believe that by acquiring DomainAvenue.com, Wyith will be able to further expand its online presence to a much wider scope."

"We are extremely excited to join the Wyith family," said Ruth DiTucci, President and CEO of DomainAvenue.com who will be staying in Wyith as both Director for Sales as well as President for the new DomainAvenue.com Division of Wyith Incorporated during the transitional period. "As one of the most controversial companies for domain names with a large inventory and number of registered users, DomainAvenue.com is joining Wyith to create the most comprehensive set of personal domain services in the international B2C market."

Upon completion of acquisition of DomainAvenue.com's domain assets, the company will be renamed 'Wyith Limited d/b/a DomainAvenue.com' and will be grouped under the Wyith umbrella as a new division targeting the personal domain market.

The Web site for Domain Avenue is www.DomainAvenue.com

About Wyith Incorporated

Founded in 1991, the company is a provider of corporate MIS applications, backend IT services and is a strategic consultant of e-business. The company's wholly owned division, Wyith Limited, is also a world class leader in B2C domain-based services, including domain registrations in over 70 countries, Web hosting and related services. The business has serviced over 40,000 customers worldwide, spanning 110 countries.

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Public Relations Manager
Wyith Incorporated
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