iExalt, Inc. Completes Acquisition of Christian Times Newspapers

Posted on July 14, 2000

iExalt, Inc., a Christian products and services company, has announced that it has acquired Keener Communications Group, publisher of the Christian Times newspapers. As a result of this acquisition, iExalt's annualized gross revenues will increase to approximately $9.5 million.

``Since our formation, iExalt's strategy has been to acquire or develop resources that provide relevant content to our customers in an efficient manner while taking advantage of the synergies we have among our various operating divisions,'' said Jack I. Tompkins, iExalt's chairman and chief executive officer. ``In addition to providing another cost-free avenue for advertising the entire line of iExalt products and services, Christian Times provides a valuable source of content for iExalt's online event resources."

``Because of these synergies, we plan to develop a nationwide chain of regional Christian newspapers that will further enhance our content and drive traffic to our Web sites,'' Tompkins continued. ``iExalt's Christian Happenings magazine will directly benefit from Christian Times' extensive coverage of local Christian events. The combined annual distribution of these two publications is more than four million in 26 markets nationwide, which in turn will help increase the exposure of our online events calendar, www.iEvents.net.''

Christian Times is published in eight regional editions in California with a monthly circulation of approximately 180,000 copies. Distributed through churches and individual subscriptions, the newspaper reports on current events from a Christian perspective, focusing on traditional family values and church trends.

Lamar Keener has been named president and chief executive officer of iExalt's Christian Times division. His wife, Theresa Keener, will also maintain her active role in the publishing company. The husband and wife team began publishing Christian Times in 1988 after acquiring a small Christian classified shopper in San Diego.

``We are pleased to welcome Lamar and Theresa to the iExalt family,'' Tompkins continued. ``Their experience will be valuable as we develop new regional Christian newspapers and expand our market reach from coast to coast.''