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Com-Guard Selects Genesis Technology Group to Lead Business Expansion and Distribution of Security Software in Chinese Markets
Tuesday February 10, 7:00 am ET
Foreign Software Annual Sales to Reach $6.24 Billion
BOCA RATON, Fla.--(BUSINESS WIRE)--Feb. 10, 2004--Genesis Technology Group, Inc. (OTCBB:GTEC - News) announced today the signing of a contract with Com-Guard, Inc. (OTCBB:CGUD - News), a California-based software design firm. The Company's patented product, Com-Guard Pro(TM), includes Web-Guard, an Internet access management tool; the unique Com-Guard(TM) software that enables users to monitor, limit and record access to data; and the Sensor-Card hardware that provides a security system against tampering and unauthorized use of computers.
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Dr. Edward W. Savarese, Com-Guard founder, Chairman and Chief Executive Officer, commented: "After five years of development, we are fully committed to the international commercialization of the Com-Guard suite of products. With its history in China and alliance with the Shanghai United Technology & Property Rights Exchange, Genesis appears to be uniquely qualified to launch our China initiative. I traveled from Carlsbad to Boca Raton to meet with the Genesis team and left with a high level of confidence."
As reported by computer industry experts Bryan Tan and Benjamin Cheong: "China is the world's largest hardware platform, accounting for almost 65% to 75% of the world's hardware base... But its software industry presents a golden opportunity for foreign software companies. The market for (foreign) software in China grew 19.5% in 2002 to reach $1.98 billion and will grow even faster over the next few years to an estimated $6.24 billion. It is not at all surprising that many foreign companies have spared no attempts to penetrate the Chinese market. In fact, software supremo Microsoft was even willing to disclose the source code to its Windows operating system to the Chinese government in order to allay the government's security fears and in the hope that the Chinese government will allow them to import and sell their software in China."
Mr. Gary L. Wolfson, Genesis CEO, explained: "Our Company has been cautious in contracting with software designers. Intellectual property had been a major concern in China for many years, but advances through the WTO and the Chinese government have raised the comfort level for Western companies like Com-Guard. We have constructed a very aggressive program for its suite of products, more likely on the industrial and institutional than the retail level. China's Internet users jumped to 79.5 million by the end of 2003, placing the country second only to the United States in numbers online. This is an increase of 20 million or 35 percent from just one year earlier."
China Roundtable Roundup: On February 5th, Genesis hosted 31 South Florida pharmaceutical companies at its roundtable near Fort Lauderdale, Florida. The guest speakers included Mr. James Shen and Ms. Joanne Zhou of Beijing, both experts in bilateral trade with an emphasis on the life sciences. The next China Roundtable is scheduled on March 26th in Paris at the Intercontinental Hotel where Genesis CEO Gary Wolfson will speak on the "Opportunities for EU Companies in China". For more information, visit
http://www.genesis-technology.net/Events.asp
About Com-Guard, Inc.
Com-Guard, Inc. incorporated on October 7, 1998. For the first two years of its existence the company spent its time in development. Beginning in spring 2001, the company began marketing and sales activities and is continuing to develop its market channels both in the United States and internationally. The principal business of Com-Guard, Inc. is the exploitation of niche products for the microcomputer industry that provide enhanced system security for both individual users and network administrators. Its security software products provide users of personal computers with (1) Internet security, (2) file security (including e-mail), and (3) internal facility security. The Company has a patent in the United States, which covers the implementation of Com-Guard hardware. Copyright applications will be filed on all software as it is developed and enhanced. For more information, visit
http://www.com-guard.com
About Genesis Technology Group, Inc.
Genesis Technology Group is a business development firm that fosters bilateral commerce between companies in the West with those in China. Genesis has created successful profit centers in product development, manufacturing, distribution, joint ventures and operational services. The Company has fully staffed offices in the United States, Germany, and China. Genesis has established effective working relationships with various governmental agencies, public institutions, and private industries in China. In addition, the company acquires and invests in innovative technology companies in China or forms joint ventures with both American and elite Chinese companies, focusing on emerging technology industries including, but not limited to, nanotechnology, biotech, wireless telecommunication, information systems, environmental protection and biomedicine technologies. For more information, visit
http://www.genesis-technology.net
This announcement contains forward-looking statements that involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- especially those relating to China, activities of competitors and the presence of new or additional competition, and changes in Federal or State laws, restrictions and regulations on doing business in a foreign country, in particular China, and conditions of equity markets. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission.
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Contact:
Genesis Technology Group, Inc., Boca Raton
Kenneth Clinton, 561-988-9880; Fax: 561-988-9890
kclinton@genesis-technology.net