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Pierce
International Acquires North American Software
On
December 21, 1999, Pierce International (OTC BB Symbol "PRCI")
completed its acquisition of the outstanding common stock
of North American Software Associates, Limited (NAS) in exchange
for 76.8 million shares of PRCI common stock.
NAS
is an information technology company with a strong emphasis
in Microwave and Fiber Optic Technology, Internet Service,
Network Support Services, Remote Critical Data Storage and
Information Technology Training. NAS owns Freedom 2000, the
local Internet service provider, which connects the tri-state
region of Mississippi, Alabama and Tennessee.
NAS
currently employs 21 engineers, technicians and managers.
NAS's facilities are located in a new state-of-the-art 170,000
square feet office building located in the Tri-State Commerce
Park in northeast Mississippi. This facility was built for
the National Aeronautics and Space Administration in 1993
to provide a physical plant for NASA's computer engineering
of the advanced solid rocket booster project. The space program's
budget cuts precipitated closure of this facility in 1996.
The State of Mississippi took title to the facility in 1997.
In January 1999, NAS entered into a 10-year lease of the facility
with the State of Mississippi.
NAS is now expanding and upgrading its Mississippi facility
to accommodate increased communication bandwidth capabilities
through the use of fiber optics and microwave technology.
The increased bandwidth will compliment the improved infrastructure
and communication capacities of the NAS facility, and will
provide a basis for additional expansion of the NAS businesses.
This former space administration facility was originally designed
to provide high security for information storage needs. The
facility's strategic location and secure environment provides
NAS with a perfect location for remote critical online data
storage for government and corporate applications. The facility
has a complete dual power backup system including multiple
diesel power generators servicing the entire computer complex.
Following the acquisition of NAS the management of PRCI resigned.
The new president of PRCI is Robert R. Crawford. In addition,
PRCI plans to change its corporate name to "North American
DataCom". As a result of the acquisition of NAS there are
now approximately 4 million publicly traded shares and 82
million restricted shares which are outstanding.
North
American DataCom's new principal executive offices will be
located at 751 County Road 989, Building 1000, Iuka, MS 38852.
For further information, contact Investor Relations by telephone
at (662) 424-5030, and by e-mail at invrel@nadata.com
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