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DiSX and Top Jobs on the Net Come to Amicable Agreement; Dynamic
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DiSX and Top Jobs on the Net Come to Amicable Agreement; Dynamic Information System & eXchange Inc. --DiSX-- Ends Its Joint Venture with British Company OREM, Utah--(BUSINESS WIRE)--March 22, 2000--Dynamic Information System & eXchange Inc., DiSX (OTC BB: DIXS), has ended its joint venture, topjobs.net inc, with the British corporation, topjobs.net plc. Created in February 1999, topjobs.net inc was a joint venture company between two Internet recruitment marketing companies and intended to bring a global aspect to the job recruitment industry. It had made significant reach into the U.S. market, having expanded into such major cities as Los Angeles, San Francisco, Houston, Phoenix, and Salt Lake City. It ceased operations effective Jan. 31, 2000, after both companies agreed to focus expansion on their own continent. It was a clean, amicable decision by both companies to end the joint venture. DiSX retains its 41,667 shares of common stock in topjobs.net plc. DiSX is now able to be 100% in control of all aspects related to an established and successful operation, with adaptations related to price, technology, marketing, geographic solutions, etc. This decision has proven to be in the best interest of shareholders, with increasing valuation of each company. The mid- and long-term business projections should give the shareholders a greater return on investment. "We are excited at the prospects and possibilities that this agreement affords us. We are able to pursue our U.S. operations and feel that our TopJobs USA(TM) product line has the potential to be a major force in Internet job recruitment," said Larry Heaps, president of DiSX. "Because TopJobs USA is the `local` Internet recruitment site in a specific market, job seekers have access to premier local companies and the career opportunities they are offering. At the same time, corporations have a targeted pool of thousands of registered job candidates to choose from," said Heaps. Within the next few months, DiSX is planning to expand its new TopJobs USA product line to several additional locations in the western United States. DiSX specializes in online recruitment tools for both major corporations and job seekers with a range of products and services. Its Internet-related businesses include: TopJobs USA, which offers online job postings to local employers and UltimateResume.com, which provides a vast database of resumes for employers. DiSX continues to develop additional new and unique products to expand its presence in the market. The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by Dynamic Information System and eXchange Inc.) contains statements that are forward-looking. Statements relating to the future anticipated direction of the recruitment advertising industry, plans for future expansion, various business development advertising industry, planned capital expenditures, future funding sources, anticipated sales growth and potential contracts are such statements. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of Dynamic Information System and eXchange Inc. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, changes in federal or state tax laws, and market competition factors. --30--lma/ix* CONTACT: DiSX Inc., Orem Curt Johnson, 801/426-4600 or Investor Relations, Phoenix Mark Wolkos, 480/348-9282 Today`s News On The Net - Business Wire`s full file on the Internet with Hyperlinks to your home page. URL: http://www.businesswire.com