VGCP - Thursday July 15, 9:49 am Eastern Time
Company Press Release
Viking Capital Financial Services Names Swenson as President and CEO
DALLAS--(BUSINESS WIRE)--July 15, 1999--Viking Capital Financial Services, Inc. (VCFS), a wholly owned subsidiary of Viking Capital Group, Inc. (OTC:VGCP - news) has named Curtis W. Swenson as the company's president and CEO. Swenson, the current chairman of Viking Capital Financial Services, is taking a more active role in the company as it moves forward with its previously announced plans to open six sales offices across the United States.
Swenson has twenty-three years experience in executive management and personal insurance and securities sales. He has trained and managed an agency of insurance and securities representatives through Oppenheimer, Inc. of New York and Advantage Capital Corp. of Houston while simultaneously managing individual and corporate accounts as well as personally producing new business. Swenson holds a Bachelors Degree in Finance and Business Administration from the University of Minnesota.
VCFS is the unit of Viking Capital Group that will be responsible for financing activities related to all Viking subsidiaries as well as offering financing services to the Company's customers. Customers of VCFS include banks, insurance companies and large marketing organizations. Viking intends to have multiple business relationships with these customers, whether it is for outsourcing insurance administration (Universal IP), remote banking services (IP Banker), or insurance marketing plans (IP Marketer). As Viking Capital Group, Inc. helps its customers grow, Viking Capital Financial Services is available to assist in their needs for growth capital. Viking Capital Financial Services, Inc. is hiring an initial national sales force with an associated Broker Dealer that will total 60 sales representatives by the end of the year. VCFS plans to open six U.S. offices in conjunction with an associated Broker Dealer. The first office will be located within the Viking headquarters in Dallas. Each office will house ten sales representatives, an office manager and a sales manager.
About Viking Capital Financial Services
VCFS provides capital services for Viking subsidiaries and to Viking's corporate customers. VCFS provides Viking's corporate customers such as banks and insurance companies with financial consulting, restructuring and capital services that have a need for these services because of extensive growth after outsourcing various services to Viking's subsidiaries. Learn more about Viking Capital and its subsidiaries by visiting our World Wide Web site: www.vcgi.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995.
Certain statements made by the Company which are not historical facts may be considered forward-looking statements, including, without limitations, statements as to trends, management's beliefs, expectations and opinions, which are based on a number of assumptions concerning future conditions that may ultimately prove to be inaccurate. Such forward-looking statements are subject to risks and uncertainties and may be affected by various factors which may cause actual results to differ materially from those in the forward-looking statements.
Among the factors that could cause actual results, performance or achievement to differ materially from those described or implied in the forward-looking statements are general economic conditions, competition, potential technology changes, changes in or the lack of anticipated changes in the regulatory environment in various countries, the ability to secure partnership or joint-venture relationships with other entities, the ability to raise additional capital to finance expansion, and the risks inherent in new product and service introductions and the entry into new geographic markets.
For further information which could cause actual results to differ from the Company's expectations, as well as other factors which could affect the Company's financial statements, please refer to the Company's report filed with the Securities and Exchange Commission.
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Contact:
Viking Capital Group, Inc.
Matthew W. Fossen, 972/386-9996
E-mail: viking@vcgi.com
Web: www.vcgi.com
or
Ackermann Public Relations & Marketing
Robert Cathey, 423/584-0550
rcathey@ackermannpr.com
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