Virtual Technology Plans European E-Commerce Initiative

Minneapolis-based Virtual Technology Corp., an Internet retailer of computer
hardware, software and peripheral products, said it plans to begin selling in
Europe and has established Virtual Technology
Ltd.
as its European subsidiary.

The company said it will run its land-based operations from London.

“Europe has been in our sights for some time and we will be ready shortly to
launch our European initiative,” said Greg Appelhof,
president and chief executive officer of VTC. “This represents significant
potential for VTC
and enables the company to leverage the ability of the Internet to reach a
vast geographic area. The increased buyer awareness in the European Community
is also attractive in regards to potential revenue.”

The company’s European initiative will be backed primarily by Ingram Micro Inc. with fulfillment
operations throughout Europe. Ingram Micro is a wholesale distributor of
computer technology products and services, from companies such as 3Com, Apple,
Canon, Compaq, Cisco, IBM, Hewlett Packard, Microsoft and Novell.

Virtual-world.co.uk will be hosted within the Trusted Third Party (TTP)
environment operated by NetStore Group Ltd. in London. The launch of the site
is planned for early March.

Virtual Technology Corp., founded in 1996, is a publicly traded Internet
reseller of computer hardware, software and services. Its primary e-commerce
sites include the Virtual World
online computer store
and the Virtual Technology
auction site.

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