Press Release: HARS Systems Inc.
March 7, 2001
CALGARY, AB -- HARS Systems, Inc., through its wholly owned subsidiary, VIP International Corporation, is continuing
its strategic review process as previously announced, including discussions with a major unrelated investor in
Canada, to explore ways to strategically enhance VIP's business and shareholder value. The Corporation does not
expect to be in a position to make further announcements with respect to its strategic process in the short term.
Further, there can be no assurance that this process will result in a transaction involving HARS or VIP.
The Corporation recently reported revenues of $3,156,487 in the quarter ending December 31, 2000, a 13% increase
over the corresponding quarter a year earlier. Net Income was $104,355 for the quarter. Cash and equivalents were
$3,754,215 as of December 31, 2000 compared to $969,631 a year earlier. The company continues to show growth from
both new and existing customers.
VIP International, a wholly owned subsidiary of HARS Systems, Inc., has a 22-year history of providing thousands
of hotels and car rental companies with direct access to over 600,000 travel agents and travel planners, and millions
of Internet users, around the globe. Using their personal computers at home and work, or public computers at cyber-cafe's
and libraries, consumers can find VIP International's member hotels via VIP's proprietary web site, CarsAndHotels.com,
and through every viable Internet travel web site, such as Expedia(TM), Travelocity(TM), and Priceline(TM). VIP
International currently supports thousands of hotels and car rental locations worldwide with expert knowledge of
the GDS; strategic marketing advice and support; cost-effective access to SynXis Agent(TM) reservation technology;
and a 24-hour seven-day-a- week professionally staffed call center, located in VIP International's World Headquarters
in Calgary, Alberta, Canada. VIP has business development and support offices in Colorado, Ontario, the United
Kingdom, and Argentina. HARS Systems, Inc. is publicly traded on the Canadian Venture Exchange under the symbol
HSS.
Certain statements contained in this press release are forward-looking statements. While these statements reflect
HARS Systems, Inc.'s (the Corporation) current beliefs, they are subject to uncertainties and risks that could
cause actual results to differ materially. These factors include, but are not limited to, the demand for the Corporation's
products and services, economic and competitive conditions. The Canadian Venture Exchange has not reviewed and
does not take responsibility for the adequacy or accuracy of this release.
SOURCE: HARS Systems Inc.