Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : TSIG.com TIGI (formerly TSIG) -- Ignore unavailable to you. Want to Upgrade?

To: REW who wrote (43394)	12/1/2000 9:24:28 AM
From: REW	Read Replies (1) \| Respond to of 44908

TeleServices Internet Group Comments on Reliant Agreement ST. PETERSBURG, Fla.--(BUSINESS WIRE)--Dec. 1, 2000--TeleServices Internet Group Inc. (OTCBB:TIGI), also known as TSIG.com, today announced the termination of the proposed agreement with Reliant Interactive Media Corp. Management believes this decision is in the best interests of the shareholders of TSIG.com for the following reasons: (1) The amount that TSIG.com had agreed to pay for Reliant would be excessively dilutive to TIGI shareholders, and would have reduced the company's overall operating margins; (2) Reliant derives a significant portion of its revenues from the sale of PCs, the sales of which are currently soft and margins have declined substantially over the past six months, and the outlook remains uncertain; and (3) TSIG.com has just acquired The Affinity Group, which is engaged in a substantial and profitable business relationship with Reliant. Observed Scott Roix, CEO of Affinity, "We have a great business relationship with Reliant, but they are only marginally profitable and this acquisition does not make sense for us at this time. We are currently developing new business opportunities that could multiply the size of our business by several times next year, and generate excellent profitability." Added Jeff Bruss, vice-chairman of TSIG.com and CEO of GeneralSearch.Com, "As a result of changing market conditions over the past several months, there are now many more acquisition candidates that offer high potential returns on investment. We are looking at several synergistic acquisitions that we believe would offer our shareholders considerably higher returns than we could earn on Reliant." About TSIG.com Headquartered in St. Petersburg, Florida, TeleServices Internet Group Inc., also known as TSIG.com, has recently acquired GeneralSearch.Com, an Internet search engine and portal, and The Affinity Group, an affinity marketing and sales company. TSIG.com forms myCard partnership agreements with national corporations and non-profits, and works with those partners to design revenue-generating programs. These customized marketing programs are intended to provide recurring revenues to TSIG.com and its partners, and help develop strong brand loyalty and awareness within target communities. TSIG.com also provides customer service and support with its Web-based call center and related services. TSIG.com's corporate web site is at www.tsig.com and its myMusicCard web site is at ww.mymusiccard.com. 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 (1) competition in the markets for the company's products and services, (2) the ability of the company to execute its plans, and (3) other factors noted in the company's SEC filings. CONTACT: TeleServices Internet Group, St. Petersburg Paul Henry, 727/897-4000 phenry@tsig.com