WOW CSGGP IS THE PLAY NOT THE COMMON
Tuesday June 15, 10:50 am Eastern Time
Company Press Release
Concorde Strategies Group, Inc. and W3 Group, Inc. Announce Executive Appointment
NEW YORK--(BUSINESS WIRE)--June 15, 1999--As previously announced, Concorde Strategies Group, Inc. (OTCBB: CSGG and OTCBB: CSGGP) has recently entered into a formal Agreement and Plan of Share Exchange with W3 Group, Inc. whereby Concorde will acquire 100 percent of the capital stock of W3 in exchange for shares of Concorde's Common Stock, subject to approval by shareholders. W3 is a privately held corporation formed this year to serve as an incubator to acquire and develop young companies whose businesses involve the development of Internet related technology.
Today, Mr. P. Richard Sirbu, Chairman and CEO of W3 Group, Inc. announced an important senior management appointment - Mr. Thomas C. Hushen as Senior Vice President and Chief Operating Officer, who has over 30 years of management and technology experience.
Thomas C. Hushen as Senior Vice President and Chief Operating
Officer
''Mr. Hushen has broad based technology and management experience, with a record of creating sustained growth and delivery, exploiting emerging technologies, exceptional team building skills and customer orientation, while focusing on profitability. He is very experienced in developing and implementing strategic plans for information technology systems, and has been involved in starting up new organizations and turn-around projects. Mr. Hushen was responsible for the over-all technology implementation of the first professional financial services mall on the Internet,'' said Sirbu.
Previously, Mr. Hushen was Director - General Manager for Gateway 2000 and responsible for the development and implementation of their Internet strategy. The web site developed is generating significant daily order revenue and experiencing over two million hits daily, and the system includes over 300 private Extranet sites.
Prior to Gateway 2000, Mr. Hushen was Vice President and Chief Information Officer for AmeriTrade Holding Corporation, and was responsible for all aspects of technology and corporate management information systems. He implemented the company's first Web server providing on-line securities trading and establishing AmeriTrade as an Internet leader in the brokerage industry. He also managed the company's legacy systems to facilitate a ten-fold increase in business, with 70 per cent of the business conducted over the Internet.
Mr. Hushen was also Vice President and Chief Information Officer of Southwest Securities, held several technology management positions with the SABRE division of American Airlines, and was President of Compudata Systems, Inc.
This press release contains forward-looking statements that involve a number of risks and uncertainties. The Agreement and Plan of Share Exchange transaction is subject to the satisfaction of certain conditions, some of which are outside the Company's control. Accordingly, there can be no assurances that the transaction will be completed. Other factors could cause actual results to differ materially from those reflected in forward-looking statements made from time to time in news releases, reports, proxy statements, registration statements and other written communications, as well as oral statements made from time to time by representatives of the Company.
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Contact:
Concorde Strategies Group, Inc., New York
Robert Gordon, Shareholder Relations, 212/317-0060
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