USA: East Coast Beverage Corp. new merger partner signs 3-year contract worth over $12 million in net profits

By | 16 November 2000

East Coast Beverage Corp. (OTCBB:ECBV), the second largest producer of ready-to-drink bottled coffee, yesterday announced that on September 15, its new merger partner, StarTalk Holdings, Inc. signed a three-year contract with a major client.

StarTalk is an emerging reseller of wholesale network phone time through the AT&T Network and an Internet Service Provider (ISP) through MCI/WorldCom.

Under the terms of the agreement, StarTalk's client agreed to purchase 100 million minutes per month for a 30-month duration. Effective Monday, November 20, all of the circuits will be up and running and StarTalk should begin to generate revenue from this contract.

Jack Namer, Chairman and Chief Executive Officer of East Coast Beverage, stated, "By merging with StarTalk and consummating this major contract, management has clearly demonstrated its commitment to leveraging multiple opportunities within today's market. Furthermore, this contract is one of many we intend to deliver through our new telecommunications arm, which is experiencing dynamic growth. Although this contract is unrelated to our beverage division, it will still significantly enhance our shareholder value, which was the ultimate goal of the merge."

Continuing, Namer said, "We are extremely excited about the future of our Company and ensure that this blockbuster contract should not undermine the confidence we possess in our beverage division. In both divisions, we will continue to deliver improved shareholder value in the form of rapid revenue and earnings growth. While it may seem an unlikely combination, the opportunities made available by combining the beverage and telecommunications divisions are significant and highlight the trend in both sectors of exploiting cross-marketing methods to enhance overall product sales in both divisions."

About Star Talk Holdings, Inc.

Star Talk Holdings, Inc. was founded in November 1999. The Company operates three subsidiaries: StarTalk ISP (WeTalk4U.com), an Internet Service Provider; StarTalk, Inc. and FoneTalk, Inc., which are both aggregators (resellers) of wholesale network phone time with long term contracts with AT&T and MCI/WorldCom. StarTalk is the provider of prepaid telecommunication and future ISP services for WeMedia, Inc., the leading affinity group for the 54 million disabled with $1 trillion in annual buying power.

About East Coast Beverage Corp.

Based in Coral Springs, Florida, East Coast Beverage Corp., develops, produces and distributes Coffee House USA(TM), a proprietary line of all natural, ready-to-drink bottled coffee drinks. Currently, the Company produces eight flavors that include Coffee, Hazelnut Mocha, German Chocolate, Vanilla Mousse, Toasted Almond and Banana's Foster. For more information, visit www.coffeehouseusa.com.

Forward-looking Statement The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this new release (as well as information included in oral statements or other written statements made or to be made by East Coast Beverage Corp.) contain statements that are forward-looking, such statements related to consummation of the transaction, anticipated future revenues of the companies and success of current product offerings. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of East Coast Beverage Corp. For a description of additional risks and uncertainties, please refer to East Coast Beverage Corp. filings with the Securities and Exchange Commission, including Forms 10K and 10Q.

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USA: East Coast Beverage Corp. new merger partner signs 3-year contract worth over $12 million in net profits

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