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SpatialNews.com Press Release
Wireless News - Business News - Feature Columns
Vicinity Corp. Announces Inclusion in Russell 2000 IndexVicinity's addition is part of an annual reconstitution which tracks the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization and style attributes to create the Russell 3000, 2000 and 1000 Indices. Membership in Russell's 21 U.S. equity indices is based upon objective measures rather than subjective opinion or committee decisions and acts as a performance standard for investment managers. "The addition of Vicinity to the Russell 2000 Index is validation by the investor community of our business strategy. Vicinity, which is leading the convergence of the Internet and real world commerce, as well as the explosion of new Internet-enabled wireless devices, is the Internet-based marketing solution of choice for more Global 2000 brands than any other Internet information infrastructure services company," said Emerick Woods, president and chief executive officer of Vicinity Corp. "Our powerful business model combined with consistent revenue growth continues to contribute to the company's march toward profitability and increased market capitalization." Russell's indices rank the performance of the 3000 largest public U.S. companies. Russell's full-service investment management and consulting firm employs its indexes in evaluating external investment managers as part of its research-driven investment approach. Annual adjustment of the indexes ensures that Russell measures managers against accurate and objective benchmarks. Vicinity completed its initial public offering in February 2000. On May 24, 2000, the company announced that fiscal third quarter revenue was up 204 percent from the prior year and 31 percent from the prior quarter. For the quarter ended April 30, 2000, Vicinity's revenues increased to $4.3 million from $3.3 million in the second quarter of fiscal 2000 and from $1.4 million in the same period a year earlier. About Frank Russell Co. Frank Russell Co., one of the world's leading investment management and advisory firms, provides investment advice, analytic tools and funds to institutional and individual investors in 35 countries. Russell's investment management business employs a manager-of-managers approach with $60 billion in assets under management. The company has retainer consulting relationships with clients representing more than $1 trillion worldwide. Frank Russell became a subsidiary of The Northwestern Mutual Life Insurance Co. in January 1999. Founded in 1936, Russell is headquartered in Tacoma, Wash., and has offices in New York, Toronto, London, Paris, Sydney, Aukland, Singapore and Tokyo. Web site: http://www.russell.com. About Vicinity Corp. Vicinity Corp. is a leading provider of Internet-based marketing infrastructure services for brand-name Global 2000 companies. The company's clicks-and-mortar solutions, available in 14 countries and in 10 languages, enable its more than 350 clients to direct consumers searching for a specific product or service to the nearest brick-and-mortar store that carries that product or service. Vicinity's customers include FedEx, Ford, GM, Hilton Hotels Corp., Marriott, McDonald's, NEC, Pizza Hut, Starbucks, Starwood Hotels, Taco Bell, Toyota, Levi Strauss & Co. and UPS. Its suite of private-label and co-branded content and services -- available via the Internet, cellular phones, WAP phones, PDAs, wireless devices and landline telephones -- includes Vicinity Business Finder(SM), Telephone Business Finder(SM), Wireless Business Finder(SM), BrandFinder(SM), SiteMaker(SM), MailMaker(SM), GeoSearch(R), MapBlast!(R) Mapping Services, and Business Directory. Publicly traded on Nasdaq under the symbol VCNT, Vicinity's investors include CMGI (Nasdaq:CMGI). Vicinity's strategic alliances include Inktomi (Nasdaq:INKT), Palm Computing (Nasdaq:PALM) and it is a member of the Phone.com (Nasdaq:PHCM) Alliance Program. Vicinity was established in 1995, is headquartered in Palo Alto, and has offices in New Hampshire, U.K., France and Germany. Vicinity(R) is a registered trademark Vicinity Corp. CONTACT: Vicinity Corp. Rosanne Roth, 650/237-0300 ext. 275 rroth@vicinity.com or Liz Aune, 650/237-0311 ext. 309 laune@vicinity.com or Fleishman-Hillard Laura Kraft, 213/489-8255 kraftl@fleishman.com |
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