Friday February 12, 4:23 pm Eastern Time
Company Press Release
TeleServices International Group Reaches
Agreement to Proceed With MusicCard
Products
ST. PETERSBURG, Fla.--(BUSINESS WIRE)--Feb. 12, 1999-- TeleServices International Group
Inc. (OTC BB:TSIG - news), a provider of outsourced teleservices and music CDs through the
Internet, announced today that it had terminated its agreement to acquire the assets of Compact
Connection, Inc. (CCI), a Nevada corporation, and reached agreement to proceed to market and sell
MusicCard products on its own.
Under the agreement, TSIG will be able to market, distribute and sell pre-recorded music and related
products using the name MusicCard through any and all means, including TSIG's teleservice center,
independent distributors, and through TSIG's e-commerce web site on the Internet. TSIG operates its
MusicCard business through My MusicCard Company, a wholly-owned subsidiary.
Early in 1998, TSIG had announced its intention to acquire the assets of CCI, subject to the
completion of an audit of CCI's books and a complete due diligence review. CCI, a privately held
company, was unable to provide audited financial statements. As the result of TSIG's substantial
investments in anticipation of completing the asset purchase, the parties agreed that the pending
acquisition would be terminated and that TSIG could proceed without restriction to continue to
develop its MusicCard business.
TeleServices International Group Inc. is a provider of fully integrated global teleservices to companies
focused on selling products and services through toll-free numbers and the Internet. Visit TeleServices
web site at stockprofiles.com, or e-mail info@tsig.com.
Contact:
TeleServices International Group Inc., St. Petersburg
Paul Henry, 727/897-4000
or
VistaQuest Financial Public Relations, New York
Mark Kabbash, President
212/551-7874
More Quotes and News:
TeleServices International Group Inc (OTC BB:TSIG - news)
Related News Categories: computers, entertainment, internet, telecom
|
