Press Release

Washington Technology Magazine ranked Simutronics Corp. of Rockville, MD as one of the fastest growing technology companies in the DC Metropolitan area.

Rockville, MD – (January 16, 1998) – Simutronics , the leading developer of multi-player Internet games, was named to Washington Technology Magazine’s "Fast Fifty" as a top technology company. Founded 10 years ago, the company has reached the elite ranks as one of the few content companies on the Internet with consistent growth and profits.

"In the war of the Internet, the firm is clearly one of the victors," said Washington Technology. "The profitable Internet content company was the No. 1 games provider on America Online with a 40 percent market share from 1995 until 1997. And the online multi-player gaming company has been on a winning streak since it departed AOL in the wake of that company's decision mid-year to charge set monthly fees."

This is the first time the company has appeared on Washington Technology’s Fast Fifty list. With 1993 sales of $120,000 and 1997 sales of over $5,400,000, the company has grown 4,500% during that period.

"We’re driving the multi-player games market upward," says David Whatley, the company’s founder and president. "As the Internet becomes a part of every PC, people are discovering how much more fun games are when they are played with other people."

Simutronics is thriving despite stiff competition from News Corp. subsidiary Kesmai, AOL subsidiary WorldPlay, and venture backed companies like Total Entertainment Network (TEN) and Enage. Simutronics is a private company that has thus far been bootstrapped based on its products, not on outside funding. However, that may change this year. The company is circulating its business plan to venture capitalists and other investors, hoping to secure enough cash to springboard it to the next level.

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"In the next five years, we expect to be one of the major game companies, with titles online, at retail, and on console platforms," says Simutronics executive vice president Neil Harris. "Our goal is to be ten times bigger within the next few years."

About Simutronics

Simutronics Corporation, a long-time leader in multiplayer gaming, specializes in the design, development, and management of games created specifically for collaborative play in virtual online communities. Their Internet sites can be found at gemstone.net, dragonrealms.net, cyberstrike.net, and modusoperandi.net. Founded in 1987, Simutronics Corporation is a privately held corporation with offices in St. Charles, Missouri, and Rockville, Maryland.

The company recently announced a partnership with Universal Studios, calling for Simutronics to create a mythological game environment based on the top syndicated TV programs, "Hercules: The Legendary Journeys" and "Xena: Warrior Princess." The new game, Hercules and Xena: Alliance of Heroes, is scheduled to debut on the Internet in April 1998. Simutronics also just announced an agreement granting the retail rights of CyberStrike 2, the highly anticipated 3D-action game, to Sony Interactive Studios America. CyberStrike 2 will be available in both single-player and multiplayer modes in mid-1998.