Thursday June 24, 9:13 am Eastern Time
Company Press Release
Viking Capital Financial Services to Open Sales Offices
DALLAS--(BUSINESS WIRE)--June 24, 1999--Viking Capital Financial Services, Inc. (VCFS), a wholly owned subsidiary of Viking Capital Group, Inc. (OTC:VGCP - news) will - with its associated broker dealer - open sales offices in six U.S. cities by the end of the year.
Viking's Dallas headquarters will be the site of the first office, scheduled to open in early September. By the end of the year, the schedule calls for offices to be operational in Scottsdale, Ariz., New York City, San Francisco, Atlanta and Minneapolis. Each sales office will house ten sales representatives, a office manager and a sales manager. Sales representatives will work through a broker dealer associated with VCFS, instead of being employed directly by VCFS. Offices will report to Oran Schrank, VCFS's new national sales director, appointed last week.
''With Oran in place, we're ready to begin building the sales organization required to support VCFS's activities,'' said Curt Swenson, chairman of VCFS. ''Our next step is to complete the arrangements with our associated broker dealer, and we expect that to happen by the end of July.''
Online Interview Available
Separately, Viking Capital Group's chairman and CEO, William Fossen, conducted an interview with Wall Street Reporter Magazine. The interview provides an overview of the Company's organizational structure and discusses its strategic direction. Interested individuals can access a RealAudio file of the interview by pointing their browser to stock-line.com. You will need the RealPlayer 5.0 plug-in on your computer, which can be downloaded free of charge at the site.
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., Dallas
Matthew W. Fossen, 972/386-9996
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