SITESTAR HOLDS SHAREHOLDERS MEETING DECEMBER 16

Sitestar Corp. (OTCBB:SYTE), a technology investment company, today announced that the Company will be holding a shareholders meeting on December 16, 2002 at 8:30pm EST. This meeting will be available via a chat session via http://www.sitestar.com, the companys corporate web site.

Sitestar Corp. (OTCBB:SYTE), a technology investment company, today announced that the Company will be holding a shareholders meeting on December 16, 2002 at 8:30pm EST. This meeting will be available via a chat session via http://www.sitestar.com, the companys corporate web site.

Since we are primarily an Internet company, it seems appropriate that we should hold this meeting via an Internet chat room," said Frank Erhartic, Jr., Sitestars President and CEO. Past shareholder meetings havent yielded the turnout that we would like to see. Using this forum should give us greater shareholder participation."

Shareholders, potential investors, media firms and other interested parties may participate in the chat meeting by first registering for this event via Sitestars corporate web site (http://www.sitestar.com). Participants may suggest topics for discussion. On the day of the event, registered parties will be emailed more information on the meeting and how to join in the meeting.

About Sitestar Corporation
Sitestar is a publicly held company that invests in emerging technology-based enterprises. Its primary focus is rural and secondary markets of the mid-Atlantic region of the United States. Sitestar's wholly owned subsidiaries provide narrow and broadband Internet access, electronic infrastructure development, Web-hosting and design services, computer sales and repair and other technology-related solutions to residential and business users.

Sitestar's wholly owned subsidiaries include Sitestar.net, Sitestar Applied Technologies, Lynchburg.net, Computers by Design, CBD Toner Recharge and Advanced Internet Services.

Statements regarding financial matters in this news release other than historical facts are "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the company's future expectations, including future revenues and earnings, the anticipated stock dividends and all other forward-looking statements, be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results.