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Monday January 27 9:15 AM EDT
GIFS receives firm offer to purchase major operating unit
CHATTANOOGA, Tenn.--(BUSINESS WIRE)--Jan. 27, 1997--Genesis International Financial
Services, Inc. (GIFS-NASDAQ-BB), announced today that it had received a term sheet supporting
an international group of prominent individuals and at least one financial institution's offer to syndicate
the purchase of GIFS' major operating unit.
The proposal, which provides the framework for further negotiations, describes a transaction with a
purchase value in excess of $100 million and a fully secured financial structure that will generate
GIFS in excess of $1 million a month for the next ten years. The company confirmed that it has been
involved in confidential negotiations with this group for an extended period of time during which the
parties have exchanged extensive due diligence material.
GIFS CEO, Mohamed Khairy Mohamed Zayed, II stated that "This offer comes from a group that
has demonstrated their financial credibility and sincere intent to us. We intend to give it our utmost
consideration as we enter the final phase of negotiations." The term sheet calls for an official
response by the company in 10 days.
Genesis International Financial Services, Inc. is a diversified holding company maintaining
investments in the financial services industry, medical products industry, agricultural industry, real
estate, and gold mining industries with investments in other hard assets, securities, and projects. For
more information about the Genesis family of companies, contact our Investor Relations Department
at 735 Broad Street, Suite 1001 -- James Building, Chattanooga, TN 37402 (423) 266-7544 or
via Mail at: investor.relations.genesis@juno.com . You may also visit our website at:
gifs-inc.com .
CONTACT: Genesis International Financial Services, Inc.
Michael W. Rehtorik, 423/266-7649
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