********** TO ALL NEWS **********
TeleServices International Group Reorganizes Into Three Divisions and
Announces Plans to Operate Under the Name TSIG.com
March 2, 1999 10:38 AM
ST. PETERSBURG, Fla.--(BUSINESS WIRE)--March 2, 1999-- TeleServices
International Group Inc. TSIG Tuesday announced the completion of the
reorganization of TSIG into three divisions: the OnLine Services Division, the
Products and Services Division, and the TeleServices Division.
TSIG also announced plans, subject to shareholder approval, to rename the
company TeleServices Internet Group Inc. and to operate under the name
TSIG.com.
Over the past several weeks, TSIG has announced the appointment of three
Senior Vice Presidents to head up the newly formed divisions. John Hwang,
former Managing Partner at Cohesive Technology Solutions, a leading
information technology consulting firm, will head the OnLine Services Division
and act as Chief Information Officer for the reorganized TSIG. Hwang also serves
on TSIG's Board of Directors. Robert Newton, former operations executive with
Century 21, will head the Products and Services Division.
Keith Wine, formerly at Norrell Corporation, will head the TeleServices Division.
The management and Board of Directors of TSIG have decided that renaming the
company TeleServices Internet Group, doing business as "TSIG.com," better
reflects the strategy and business mix of the company. The company will seek
shareholder approval for the name change at a shareholder meeting to be
scheduled.
Commenting on the changes, James Guild, TSIG President, stated, "We are
pleased to announce that we have restructured TSIG into three divisions, and
more importantly, that we have recruited outstanding executives to run each of
the divisions. Our new name more accurately describes our business of providing
Internet solutions and teleservice support to domestic and international
companies through state-of-the-art facilities, telecommunications and products."
Added Robert Gordon, Chairman, "With the changes we are announcing today,
'TSIG.com' now has the right name, the right management team, and the right
corporate structure. In keeping with our focus on the Internet, our OnLine
Services Division provides Internet solutions that will enable companies to
outsource to TSIG more and more of their information technology requirements.
Through our Products and Services Division, we will drive new customers to the
Internet through fund-raising programs with corporations, schools, and non-profit
organization. The TeleServices Division will have its own corporate customers
and will support the OnLine Services Division and the Products and Services
Division."
TSIG operates three Divisions: OnLine Services, Products and Services, and
TeleServices. The Online Services Division is a leading provider of secure,
managed Internet solutions and other information technology products and
services to businesses. The Products and Services Division forms
revenue-sharing programs with corporations and not-for-profit organizations to
raise funds with its My Card programs for the retail sale of music CDs, Kodak
film and film processing, and a rapidly expanding array of other products. The
TeleServices Division supports the other two divisions and its own corporate
customers through its state-of-the-art call center, which provides fully integrated
global teleservices to companies selling products and services through toll-free
numbers and the Internet.
This press release contains "forward-looking statements" within the meaning of
Section 27A of the 1933 Securities Act and Section 21E of the 1934 Securities
Exchange Act. Actual results could differ materially, as the result of such factors
as (1) competition in the markets for online services, for the products and
services the company plans to sell, and for outsourced teleservices, (2) the
ability of the company to execute its plans, (3) the availability of financing at
favorable terms, and (4) other factors detailed in the Company's public filings with
the SEC. |
