PRESS RELEASE
Thursday July 29, 9:15 am Eastern Time
Company Press Release
Viking Capital Group, Inc. Adds
Baumann to Mergers and
Acquisition Team
DALLAS--(BUSINESS WIRE)--July 29, 1999--Viking Capital Group, Inc., (OTC
BB:VGCP) has named Timothy S. Baumann vice president - mergers and acquisitions.
Baumann's primary responsibilities include serving the company in strategic and financial
planning as part of the mergers and acquisitions team and will include procuring the Company's
acquisition and working capital.
''Tim is a welcome new member and contributes additional strength to our team as we focus
on our planned strategic acquisitions of insurance companies and deploying our Internet-based
services to banks, insurance companies, HR/employee benefit plans and large marketing
organizaitons,'' said Matthew W. Fossen, CFO of Viking Capital Group.
Baumann has served as CFO with SA Telecommunications, Inc., a publicly traded, regional
inter-exchange telecommunications carrier, and Riley Drilling Company, a Texas top-ten oil
and gas drilling service company. Also, Baumann has served in the capacity of vice president
of finance and treasurer with American Cellular Services, U.S., a wireless telecommunications
company he founded and subsequently sold to Contel Cellular. (Contel Cellular is a subsidiary
of GTE.) Prior to Contel, Baumann served as a senior consultant with Ernst & Young.
Baumann's experience includes securing equity and debt financing for his own companies and
others and negotiating with city and state agencies for government funds. He holds a B.S. in
Business Administration from Central Michigan University.
About Viking Capital Group, Inc.
Viking Capital Group, Inc., head office in Dallas, is creating a group of streamlined companies
to provide specialized administration services, using proprietary technology to reduce costs
and improve quality of service to insurance companies, banks and other financial institutions.
Simultaneously, the Company plans to purchase and manage its own portfolio of insurance
Company assets. The Company's strategic goal is to acquire $1.5 billion in insurance managed
assets through the purchase of existing life insurance companies. Viking is a fully reporting SEC
Company and is traded on the OTC BB market under the symbol VGCP.
Contact Viking on the World Wide Web. 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.
Contact:
Viking Capital Group Inc., Dallas
Robert Cathey, 423/584-0550 (Media Contact)
rcathey@ackermannpr.com
or
Matthew W. Fossen, 972/386-9996 (Investor Contact)
mfossen@vcgi.com
Regards,
TOPSTOCK
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