MSGI Announces the Company's Addition to the Russell 2000 US Equity Index
July 15, 1999 07:50 AM
NEW YORK--(BUSINESS WIRE)--July 15, 1999--Marketing Services Group, Inc. MSGI , an integrated marketing and Internet services industry leader, today announced that the Company has been selected by the Frank Russell Company to be added to its Russell 2000 Index of small- capitalization stocks, effective July 1, 1999.
The Frank Russell Company ranks the 3,000 largest U.S. stocks by total market capitalization, reconstituted annually on May 31 to reflect changes in the marketplace. The Company produces a family of 18 U.S. equity indexes, all of which are a subset of the Russell 3000 Index, which, according to the Frank Russell Company, represents approximately 98% of the investable U.S. Equity market. The Russell 1000 Index is comprised of the largest capitalized companies in the rankings, while the remaining 2000 U.S. companies comprise the Russell 2000 Index. The rebalanced lists are currently available on Frank Russell Company's Website .
"Inclusion in the Russell 2000 Index is a strong sign of the growth MSGI has displayed," commented Jeremy Barbera, Chairman and Chief Executive Officer of Marketing Services Group, Inc. "MSGI has extended its proven expertise in traditional marketing to online services over the past year with our acquisition of CMG Direct, and we will continue with our aggressive growth strategy of investing, acquiring and incubating Internet and database marketing technology and solutions businesses."
About Russell 2000 Index
U.S. common stocks are ranked annually on May 31 based on market capitalization. The top 3,000 stocks are selected to become the Russell 3000 Index. The largest 1,000 stocks become the Russell 1000 Index an the remaining 2000 comprise the Russell 2000 Index. Stocks trading below $1.00, pink sheet and bulletin board stocks, closed-end mutual funds, limited partnerships, royalty trusts, etc., and non-U.S. domiciled stocks, foreign stocks and ADR's are excluded from the Indexes. Shares outstanding are adjusted for cross-ownership and privately held shares to reflect shares available for trading. Stocks deleted between reconstitution dates are not replaced. Spin-offs are the only additions between reconstitution dates and dividends are reinvested on the ex-date.
About MSGI
Marketing Services Group, Inc. is a leader in the Internet and marketing services industries. MSGI's revenues have grown from $16 million in fiscal 1996 to in excess of $100 million on an annualized basis. GE Equity is the owner of a 22 percent stockholder position in MSGI and CMGI is the owner of a 10 percent stockholder position in MSGI.
MSGI is organized into two business divisions: the Internet Group and the Marketing Services Group. The Internet Group's mission is to acquire, invest in and incubate Internet companies. Its preliminary focus will be on PermissionPlusTM and will expand into other strategic areas. The MSGI Internet Group provides Internet marketing, e-commerce applications, Web development and hosting, online ad sales and consulting. Its Marketing Services Group provides strategic planning, direct marketing and database marketing, telemarketing and telefundraising, media planning and buying and fulfillment. Through this business segment, MSGI will continue to grow by leveraging the synergies it has across all its companies in marketing, technology, and capabilities.
Thousands of clients worldwide are provided services by MSGI with offices throughout the United States and in London. Corporate headquarters are located at 333 Seventh Ave., New York, NY 10001. Telephone: 212-594- 7688.
Matters discussed in this release include forward- looking statements that involve risks and uncertainties, and actual results may be materially different. Factors that could cause actual results to differ are stated in the company's reports to the Securities and Exchange Commission including its 10-Q for the period ended March 31, 1999 and the annual report on Form 10-KSB for the year ended June 30, 1998.
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