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E-Force pulls the plug on portal

By Ben Dutton

Monday 11th December 2000

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The Internet site that gave away 70 iMacs and a Volkswagon Beetle in a quest to grab a share of the New Zealand consumer portal market has been closed down.

Eforce (NZSE: EFC) today announced the closure as part of its restructuring plans - the focus of its business now will be on Product Sourcing International, the company Eforce acquired in June this year.

Eforce CEO, Bill Farmer, says that the decision to close the portal was in line with the directors report issued with the company's half year result.

"The company has been reacting to both the realities of the change in market sentiment towards dot.com companies and the fact that insufficient revenues are being generated from the portal activities to keep it on the air," he says.

Richmond Paynter, the Chairman of Eforce, also resigned from the company.

Eforce finished the day at 8 cents on low turnover.

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