(PR NEWSWIRE) Ben Ezra, Weinstein and Company, Inc. Announces Additional D
Ben Ezra, Weinstein and Company, Inc. Announces Additional Divestitures Three
New Corporations Intend to File as Reporting OTC:BB Companies
ALBUQUERQUE, N.M., July 12 /PRNewswire/ -- Ben Ezra, Weinstein and
Company, Inc. ("BNEZ") (OTC Bulletin Board: BNEZ) announced today that it is
divesting three subsidiaries into separate Nevada registered corporations.
Each corporation will apply with the NASD to become reporting OTC:BB
companies.
"BNEZ shareholders will receive a greater value, in our opinion, by this
division of products and services than they would by keeping everything under
a single corporate roof," said Jack Ben Ezra, President and CEO of BNEZ.
The three new companies will offer products and services acquired through
acquisitions, and services formally offered through BNEZ, explained Michael
Weinstein, COO of BNEZ. "The Folio based platforms acquired through
InfoDynamics, Internet advisory services and an Internet capital resource
group are going their separate ways," Weinstein said. "CapScape, PPM and PMA
stay here," he added.
"Once the divestitures are completed," said Ben Ezra, "each of the three
companies will file separately to be listed as reporting OTC:BB companies. As
in the case of Compass Data Systems, Inc. ("Compass"), each of the spin off
companies are prepared to file once the divesting process is completed."
BNEZ shareholders will receive one share of each of the spin off
corporations for every ten shares of BNEZ. The record date of the spin-offs
is July 24, 1999.
"We do not anticipate any further divestitures once these are completed,"
said Michael Weinstein. He added that details regarding each of the new
companies will be released in separate announcements.
The Private Securities Reform Act of 1995 provides a "safe harbor" for
forward-looking statements. Certain information included in this press
release (as well as information in oral statements or other written statements
made to or by Ben Ezra, Weinstein and Company, Inc.) contains statements that
are forward-looking, such as statements relating to the future anticipated
direction of the software industry, plans for future expansion, various
business development activities, planned capital expenditures, future funding
sources, anticipated sales growth, and potential contracts.
Such forward-looking information involves important risks and
uncertainties that could significantly affect anticipated results in the
future, and accordingly, such results may differ from those expressed in any
forward-looking statements made on or in behalf of Ben Ezra, Weinstein and
Company, Inc.
Those risks and uncertainties include, but are not limited to, those
relating to development and expansion activities, dependence on existing
management, financing activities, domestic and global economic conditions,
changes in federal and state laws, and market competition factors.
SOURCE Ben Ezra, Weinstein and Company, Inc.
-0- 07/12/99
/CONTACT: Jack Ben Ezra, CEO of Ben Ezra, Weinstein and Company, Inc.,
505-880-9799/
/Web site: dwturner.com
(BNEZ)
CO: Ben Ezra, Weinstein and Company, Inc.
ST: New Mexico
IN: CPR
SU: RCN
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