EXHIBIT 99.1
NEWS RELEASE
FOR INFORMATION CONTACT:
David P. Tusa, Senior Vice President and Chief Financial Officer
210.302-0410
david.tusa@newcenturyequity.com
OCTOBER 29, 2001
NEW CENTURY EQUITY HOLDINGS CORP. ANNOUNCES MERGER OF FIDATA, INC.
INTO MICROBILT CORPORATION
SAN ANTONIO, TX...New Century Equity Holdings Corp. (Nasdaq: NCEH) today
announced the merger of the Company's instant online loan approval services
subsidiary, FIData, Inc. of Austin, Texas into privately held Microbilt
Corporation ("Microbilt") of Kennesaw, Georgia.
In exchange for 100% of the stock of FIData, Inc., the Company received a nine
percent (9%) equity interest in the combined Microbilt/FIData organization. The
transaction also includes the assumption, by Microbilt, of all of the
liabilities of FIData.
Microbilt is a leader in credit bureau data access and retrieval, providing
credit solutions to the financial, leasing, healthcare, insurance, law
enforcement, educational and utilities industries.
Commenting on the announcement, Parris H. Holmes, Jr., Chairman and Chief
Executive Officer of New Century Equity Holdings Corp., stated, "We are
very pleased with the merger of FIData into the Microbilt organization.
The merger facilitates significant operating and marketing synergies
between the two companies. Furthermore, we believe the combination of
the two entities creates a dominant player in the very fragmented online
loan approval marketplace."
"MicroBilt is excited to bring more sophisticated lending tools to our
customers," said Ken Hill, President of MicroBilt Corporation. "MicroBilt has
taken great measures to develop an array of decisioning products and services to
lenders that offer convenience and customization that fit their needs and
development budgets, which in turn increase their sales pipeline and
profitability overall."
ABOUT NEW CENTURY EQUITY HOLDINGS CORP.
New Century Equity Holdings Corp. (Nasdaq: NCEH) is a holding company focused on
high growth, technology-based companies and investments. The Company's holdings
include its investments in Princeton eCom Corporation, Tanisys Technology, Inc.,
Coreintellect, Inc., Microbilt Corporation and Sharps Compliance Corp. New
Century Equity Holdings Corp. (www.newcenturyequity.com) is the lead investor in
Princeton eCom (www.princetonecom.com), a leading application service provider
for electronic and Internet bill presentment and payment solutions, Tanisys
Technology (www.tanisys.com), a developer and marketer of semiconductor testing
equipment, and Coreintellect (www.coreintellect.com), a
developer and marketer of Internet-based solutions that acquire, filter and
disseminate business-critical knowledge and information. New Century is also a
financial investor in Microbilt Corporation (www.microbilt.com) a leader in
credit bureau data access and retrieval which provides credit solutions to the
Financial, Leasing, Health Care, Insurance, Law Enforcement, Educational and
Utilities industries and Sharps Compliance Corp. (www.sharpsinc.com), a leading
provider of cost-effective logistical and training solutions for the healthcare,
hospitality and residential markets. New Century Equity Holdings Corp. is
headquartered in San Antonio, Texas.
ABOUT MICROBILT:
MicroBilt, a division of Bristol Investments, Ltd., is a leader in credit bureau
data access and retrieval, providing credit solutions to the Financial, Rental
or Leasing, Health Care, Insurance, Law Enforcement, Education and Utilities
Industries. MicroBilt is certified through and provides interfaces with the
three consumer bureaus, Equifax, Experian and Trans Union and the two commercial
bureaus, Dun & Bradstreet and Experian Business. Bureau data is available via
dedicated terminals, dial-up software, Internet website access
(www.creditcommander.com), or through an integrated custom interface utilizing
their Software Developers Kit. Private company information along with
knowledge-based analytical tools and information services is available through
MicroBilt's recent acquisition, Integra Information, Inc. The company also
enables web sites to enhance their content offerings by delivering a
CreditCommander.com and PrivateCo.com co-branded site to their established
online communities. MicroBilt services over 30,000 customers throughout the
United States and Canada. Formerly a First Data Corporation subsidiary,
MicroBilt Corporation, maintains offices in Georgia and New Jersey. For more
information, contact MicroBilt Corporation, 1640 Airport Road, Suite 115,
Kennesaw, GA 30144. Telephone: 1-800-884-4747. Or visit their website at
www.microbilt.com.
CERTAIN STATEMENTS CONTAINED HEREIN ARE "FORWARD-LOOKING" STATEMENTS (AS SUCH
TERM IS DEFINED IN THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995).
BECAUSE SUCH STATEMENTS INCLUDE RISKS AND UNCERTAINTIES, ACTUAL RESULTS MAY
DIFFER MATERIALLY FROM THOSE EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING
STATEMENTS. FACTORS THAT COULD CAUSE RESULTS TO DIFFER MATERIALLY FROM THOSE
EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS INCLUDE, BUT ARE NOT
LIMITED TO, THOSE DISCUSSED IN FILINGS MADE BY THE COMPANY WITH THE SECURITIES
AND EXCHANGE COMMISSION.