July 31, 2003--Pacel Corporation (OTCBB:PACC) announced today that the company is exploring the development of a B to B online marketplace; a global platform that will help PEO businesses better collaborate with their partners, customers and suppliers.
AMR Research forecasts that U.S. business-to-business e-commerce will approach $5.7 trillion by 2004. Worldwide, Gartner estimates that the industry will reach $8.3 trillion by 2005.
Currently, no web-based PEO market exists where businesses and customers in the multi-billion dollar PEO industry can buy or sell goods and services.
Pacel CEO, David Calkins stated, "As a leader in the PEO industry, Pacel has always looked to the future in order to reduce costs to businesses and ultimately our customers."
He continued: "We recognize that B to B e-commerce is the best way to reduce transaction times, lower product costs, and achieve the most favorable market pricing for all types of goods and services. The PEO industry lacks such a marketplace and we are actively pursuing such a platform that will be the PEO industry standard."
ABOUT PACEL CORPORATION: Pacel Corporation is a leading provider of Human Resource Outsourcing solutions to small and medium-sized businesses in the United States. This year the company is aggressively pursuing the development of a $250 million revenue stream comprised of new accounts derived from its Strategic Marketing Program, and those acquired through its Mergers & Acquisitions Initiative. The company has already completed several acquisitions this year, and is actively pursuing additional prospects.
The statements contained in this press release that are not historical facts are forward-looking statements that involve a number of risks and uncertainties. Therefore, the actual results of future events described in such forward-looking statements could differ materially from those stated in such forward-looking statements. Among the factors that could cause actual results to differ materially are: (i) regulatory and tax developments; (ii) the effectiveness of the Company's sales and marketing efforts; (iii) changes in the competitive environment of the industry; (iv) changes in general economic conditions; (v) changes in the Company's direct costs and operating expenses; (vi) the estimated costs and effectiveness of capital projects and investments in technology and infrastructure; and, (vii) Management's ability to effectively implement its business strategy. These factors are described in further detail in filings with the Securities and Exchange Commission.
CONTACT: KBK Ventures, Inc., Houston
Investor Relations:
David Bromberg, 713/624-7110
SOURCE: Pacel Corporation
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