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Dardadog
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Business Editors / High-Tech Editors

LYNCHBURG, Va.--(BUSINESS WIRE)--Aug. 3, 2005--
Sitestar Corporation (OTCBB: SYTE), an Internet Service
Provider (ISP) and computer services company, today announced that
profits were posted for the quarter ended June 30, 2005. The Company
earned a net profit of $155,743 for the second quarter of 2005 and
$227,810 for the six months ended June 30, 2005. This marks the fourth
consecutive profitable quarter for Sitestar.
"We have increased net profits in each of the last four
consecutive quarters and, in fact, more than doubled our earning over
the first quarter of this year," says Daniel Judd, CFO for Sitestar.
"I think this demonstrates our ability to streamline our costs and
make money in this business. As we acquire more companies and
customers, we obtain greater economies of scale, better net profits,
greater market penetration and increased customer service."
Sitestar recently announced a Letter of Intent to acquire the
Internet assets and customer base of a larger company that should
almost double their revenues.
In addition to increasing profits again for the second quarter
2005, Sitestar also increased EBITDA (Earnings Before Interest, Taxes,
Depreciation and Amortization) over 180.0 percent from $188,173 for
the six months ended June 30, 2004 to $526,969 for the same period in
2005. EBITDA is a commonly used for evaluating a company's operating
profitability before non-operating expenses. Income from Operations
increased from $4,668 for the first two quarters in 2004 to $312,394
for the same period in 2005.
For more detailed information on Sitestar's financial position and
results of operations, please see the company's 10-KSB EDGAR filing at
http://www.sec.gov .

Forward looking statements

This report contains certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
Stockholders are cautioned that all forward-looking statements involve
risks and uncertainty, including without limitation, our ability to
expand our customer base, make strategic acquisitions, general market
conditions, and competition and pricing. Although we believe the
assumptions underlying the forward-looking statements contained herein
are reasonable, any of the assumptions could be inaccurate, and
therefore, there can be no assurance that the forward-looking
statements contained in the report will prove to be accurate.

About Sitestar Corporation

Sitestar Corporation is a mid-Atlantic Internet Service Provider
(ISP) and computer services company offering a broad range of services
to business and residential customers. Sitestar's main customer base
is primarily in the Virginia and North Carolina markets but also sells
most of its services nationwide. Sitestar's wholly owned subsidiaries
provide narrow and broadband Internet access, Web-hosting and design
services, computer sales and repair and other technology-related
solutions to its residential and business customers.
Sitestar's wholly owned subsidiaries include Sitestar.net
(http://www.sitestar.net), SurfWithUs.Net (http://www.surfwithus.net),
Lynchburg.net (http://www.lynchburg.net), Advanced Internet Services
(http://www.advi.net), Computers by Design
(http://www.computersbydesign.com) and CBD Toner Recharge
(http://www.recharge.net).

For more information, visit one of the following Web sites:

www.sitestar.com, www.sitestar.net, www.lynchburg.net,
www.surfwithus.net, www.advi.net, www.computersbydesign.com or
www.recharge.net.


KEYWORD: NORTH AMERICA NORTH CAROLINA VIRGINIA UNITED STATES
INDUSTRY KEYWORD: TECHNOLOGY INTERNET EARNINGS
SOURCE: Sitestar Corporation


CONTACT INFORMATION:
Sitestar Corporation
Frank Erhartic, Jr., 434-239-4272
investorrelations@sitestar.com

--------------------
Do Da Due......But Be Damn Quick About It!!!!!

Posts: 1656 | Registered: Sep 2004  |  IP: Logged | Report this post to a Moderator
keithsan
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bow wow,

been on it....

Posts: 9110 | From: boston, ma | Registered: Jan 2004  |  IP: Logged | Report this post to a Moderator
   

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