NEWS OUT
B: IVG CORP - Wing Zone Selects IVG Subsidiary, SES, to Provide Outsourced - HR
Services
New York, New York, Jun 06, 2001 (Market News Publishing via COMTEX) -- IVG
Corp. (http://www.ivgcorp.com) announced that its wholly owned subsidiary,
SES-Corp., Inc. -- one of the largest full service Professional Employer
Organizations (PEOs) in the United States -- has been selected by Wing Zone as
its exclusive provider of outsourced HR administration services.
Wing Zone, one of the nation's fastest growing restaurant franchises, is best
known for its award-winning chicken wings. Headquartered in Atlanta, Georgia,
the company operates 19 franchises throughout the United States and staffs over
375 franchise employees. By outsourcing the daily human resource obligations
such as benefits administration and payroll filing, Wing Zone will achieve
increased accuracy, compliance and improvements in overall business processes.
"We are extremely pleased to have partnered with a service provider able to
support our rapid rate of expansion," said Founder and President of Wing Zone,
Mr. Matt Friedman. "We intend to launch eight new locations this summer, and we
wanted to offer our employees and franchisers easy access to data and a
completely scaleable solution as their workforces grow. Outsourcing our HR
functions through SES and its web-enabled HR management system, SmartHR, enables
us to do just that."
Wing Zone has recently been named by Inc. Magazine as one of the top 500 fastest
growing private companies in the United States, and has also been awarded a
'Gold 200' ranking by Success Magazine, placing the company among the top 22
restaurant franchises.
"We're excited to be aligned with Wing Zone as a strategic partner," stated
President and CEO of SES-Corp., Mr. Dennis Lambka. "SES has an established
reputation in its served markets and we're glad that more companies are
recognizing us for our strong national presence. We are committed to helping
companies like Wing Zone to incorporate new processes that give them the ability
to focus on their core competencies, sustain growth and increase services levels
to employees. Thriving businesses such as Wing Zone have helped the PEO industry
grow into what it is today."
About Wing Zone
Wing Zone (http://www.wingzone.com) is a national restaurant franchise founded
in 1991. The company currently has 19 restaurant franchises operating across 10
states including Alabama, Florida, Georgia, Kentucky, Mississippi, Nevada, North
Carolina, Pennsylvania, South Carolina and Texas. In October 2000, Inc. Magazine
named Wing Zone as one of the nation's 500 fastest growing private companies. In
addition, Success Magazine placed Wing Zone in its 'Gold 200', ranking the
company among the top 22 restaurant franchises in the United States.
About SES-Corp., Inc.
SES (http://www.sesworks.com) is one of the largest full service Professional
Employer Organizations in the United States. Founded in 1989, SES offers small
and medium-sized businesses comprehensive management services for the daily
administration of human resources and employer obligations. These professional
services include payroll and benefits administration, compliance management,
medical and workers' compensation insurance programs, unemployment insurance and
claims administration, recruiting and placement services, and training and
supervisory development services. Headquartered in Auburn Hills, Michigan, SES
currently has 10 offices in 9 states, with operations in 42 states servicing
over 2,700 clients and more than 32,000 worksite employees nationwide. SES is
wholly owned by IVG Corp.
About IVG Corp., Inc.
IVG Corp. acquires and enhances revenue-generating companies with a compelling
business model, technology and/or proprietary service. IVG Corp. provides a
value-added corporate structure intended to enable its portfolio companies to
quickly leverage their expertise and deploy their business strategy by utilizing
the management, financial and corporate resources of the Company. IVG Corp.
currently trades on the NASD OTC Bulletin Board under the symbol IVGG.
Safe Harbor Statement: This press release includes forward-looking statements,
including statements relating to SES' ability to attract and retain clients,
reduce costs and increase revenues, and the business strategies of SES and IVG
Corp. These statements are made under the "safe harbor" provisions of the
Private Securities Litigation Reform Act of 1995 and involve risks and
uncertainties that could cause actual results to differ materially from those in
the forward-looking statements. These risks and uncertainties include, among
others: risks relating to the ability of IVG Corp. management to successfully
accomplish fund raising activities, the ability to achieve or sustain
profitability; limited operating history; possible financing needs; risks
associated with identifying and completing acquisitions; risks associated with
the integration of acquired technologies, operations and personnel; risks of
being deemed an investment company; exposure to unforeseen liabilities of
acquired companies; the requirement to record additional future operating costs
for the amortization of goodwill and other intangible assets, which amounts
could be significant; business conditions in the PEO, e-commerce and Internet
industries generally; the impact of market competitors and their product and
service offerings; and the economic, competitive, governmental, technological
and other factors identified in IVG Corp.'s filings with the Securities and
Exchange Commission. These factors are described in further detail in IVG
Corp.'s filings with the Securities and Exchange Commission, available online at
freeedgar.com.
CONTACT: TEL: (281) 295-8400 CORPORATE CONTACT
IVG Corp., Mr. Richard Twardowski
Email: richard@ivgcorp.com
Web: ivgcorp.com
TEL: (888) 301-6788 INVESTOR & MEDIA RELATIONS
FAX: (604) 806-3367 Mindshare Communications, Mr. Anthony
Zelen
Email: ivgg@mindsharecommunications.com
MarketbyFax(tm) - To get the NEWS as it happens, call (604) 689-3041.
(C) 2001 Market News Publishing Inc.
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KEYWORD: New York, New York
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