PSAINC Announces $9 Million Total in Private Placement Investment

Los Angeles (PROTEXT) - PSAINC (OTC Bulletin Board: PSAX) todayannounced the placement of more than $9 million [US] in privateplacements in Switzerland. Investments have been made primarily byleading private and institutional investors, including a SiemensPension Fund as previously announced. PSAINC plans to be a broad-basedglobal travel and entertainment company. PSAINC is structuring theCompany's exclusive Internet brand via advanced broadband convergencethrough its PSAZZ.COM platform. PSAINC CEO, David E. Walsh stated, "This first round of fundingreflects the kind of interest and enthusiastic response severalventure funds have given upon reviewing our business model. The sitewill include all the necessary information for travel on a global aswell as a domestic plane. E-Commerce-driven travel and transportationservices are the fastest-growing and highest-grossing businesses onthe Internet, with more than $900 million booked in 1998, with $8.9billion forecast by year 2002. The PSAZZ.COM business model usesinteractive Internet technology to allow travelers to 'try and buy',to experience a value-added virtual trip and save travelers money on awide range of services." Walsh continued saying, "We are pleased that a number ofprestigious European investors, including Siemens have taken aposition in PSA and some are in the process of evaluating theinvestment opportunities. We share in the excitement that Psazz.com iscreating not only from an investment point of view but also as a valuedriven B2B enterprise. Our vision is to become the Internet travelsource providing travelers in nine languages the local presence aswell as the global reach. The capital provided by the Europeaninvestors enables us to accelerate our launch as well as enhance themarketing and sales activities of Psazz.com." Psazz.com's original content creations will include travelintelligence, travel specials, news, music, sporting and industryrelated events, especially geared toward traveler's attendance. Othertailor-made Psazz.com programming will consist of chat shows,independently created digital film creations and network TV-stylespecial interest programs. These programs will all be delivered inreal time utilizing soft streaming media technologies for the finestquality digital broadcast available. PSAINC is headquartered at 9800 South Sepulveda Blvd., Los Angeles,CA 90045. The company's telephone is 310-258-0500 and FAX is 310-258-0509. Except for factual and historical information contained herein,matters discussed in this release, including statements are forward-looking statements that involve risks and uncertainties, and actualresults may be materially different. Factors that could cause actualresults to differ include the risk that sales of the Company'sservices may not develop as expected and the risk that the Company maynot be successful in forecasting and meeting customers' demands forits services. ots Original Text Service: PSAINC Internet:http://www.newsaktuell.de Contact: PSAINC, 310-258-0500, fax 310-258-0509 Web site: http://www.psazz.com Web site: http://www.lovepsa.com

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