MSGI Awarded Exclusive Agreement With GE Service Management Inc.
<MSGI.O>
MSGI Awarded Exclusive
Agreement With GE Service Management Inc.
NEW YORK--(BUSINESS WIRE)--November 17, 1999--
Multi-Year Engagement To Be Managed By Database Marketing
Subsidiary, Metro Direct
Marketing Services Group, Inc. (Nasdaq: MSGI), an integrated
marketing and Internet services industry leader, today announced that
GE Service Management, a subsidiary of General Electric Company, has
agreed to an exclusive four year database management engagement with
its subsidiary, Metro Direct.
"Metro Direct offers highly sophisticated database technology
solutions which are unmatched within the industry," commented Bob
Budlow, President of Metro Direct. "This multi-year agreement is
expected to generate annual revenues in the seven figure range and
provides Metro Direct with yet another strong vote of confidence in
our database marketing capabilities."
Metro Direct will build and maintain GE Service Management's
marketing database on both existing and prospective customers for use
in acquiring and retaining contracts. This database will allow GE
Service Management to query, select and build reports based on
numerous metrics, including purchase history or service information,
and will give GE the capacity to strategically target and create
marketing campaigns.
"The consumer information that GE Service Management will be able
to generate from Metro Direct's database, as well the ease of access
to the data, will significantly improve our service to customers,"
commented Don Olson, General Manager of GE Service Management.
"This agreement further expands upon the strategic relationship
between General Electric and MSGI, and is a major show of support from
our largest shareholder," stated Jeremy Barbera, Chairman and Chief
Executive Officer of Marketing Services Group, Inc. "MSGI's Media
Marketplace subsidiary was recently awarded an exclusive marketing
contract with GE Service Management and this new Metro Direct
agreement exhibits a long term commitment to MSGI."
About General Electric Company
GE, named the world's most admired company by Fortune magazine,
has been bringing good things to life for more than a century. GE is
America's preferred appliance brand and sells products under the
Monogram, Profile Performance, Profile, GE and Hotpoint brands. For
more information about GE appliances, consumers can call the GE Answer
Center(R) at 800.626.2000 or visit the Company's web site at
www.geappliances.com.
About Metro Direct
Metro Direct integrates strategy, information and the most
advanced database marketing and data processing technology to offer
mailers comprehensive direct marketing solutions. Metro's versatility
allows it to cater to multiple industries including entertainment,
financial services, fundraising, retail, and business-to-business.
Services include database development, data processing, list brokerage
and maintenance, predictive modeling, lead generation, consulting and
campaign strategy.
About MSGI
Marketing Services Group, Inc. is a leader in the Internet and
marketing services industries. MSGI's revenues have grown from $16
million in fiscal 1996 to in excess of $100 million on an annualized
basis. GE Capital is the owner of an 18 percent stockholder position
in MSGI and CMGI is the owner of a 10 percent stockholder position in
MSGI.
MSGI is organized into two business divisions: The Internet Group
and The Direct Group. The Internet Group's mission is to acquire,
invest in and incubate Internet companies. Its preliminary focus is on
WiredEmpire, and its Marketing Agent technology. MSGI plans to expand
into other strategic areas. The Internet Group provides Internet
marketing, e-commerce applications, Web development and hosting,
online ad sales and consulting. The Direct Group provides strategic
planning, direct marketing and database marketing, telemarketing and
telefundraising, media planning and buying and fulfillment. Through
this business segment, MSGI will continue to grow by leveraging the
synergies it has across all its companies in marketing, technology,
and capabilities.
Thousands of clients worldwide are provided services by MSGI,
which has offices throughout the United States and in London.
Corporate headquarters are located at 333 Seventh Ave., New York, NY
10001. Telephone: 917-339-7100. Additional information is available on
the company's Website: msginet.com.
Matters discussed in this release include forward-looking
statements that involve risks and uncertainties, and actual results
may be materially different. Factors that could cause actual results
to differ are stated in the company's reports to the Securities and
Exchange Commission including its annual report on Form 10-K for the
year ended June 30, 1999. |
