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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Joe Copia who wrote (24846)	8/22/2002 10:31:07 AM
From: Deeber	Read Replies (1) \| Respond to of 25711

CSOU news out: Thursday August 22, 8:50 am Eastern Time Press Release SOURCE: Core Solutions, Inc. Core Solutions, Inc. Announces Status of Corporate Restructuring Plan LOS ANGELES--(BUSINESS WIRE)--Aug. 22, 2002--Core Solutions, Inc. (OTCBB:CSOU - News) announced today that its corporate restructuring plan is moving in a very positive direction and management anticipates reporting substantially increased earnings by year end. Recent reductions in both fixed and variable expenditures coupled with the development of a nationwide sales and marketing staff is expected to significantly improve monthly revenue figures for the remainder of the year. This week management also decided to terminate several consulting arrangements in an effort to provide the greatest benefits for its shareholders by maximizing the overall impact of every dollar spent on corporate development. The company has made significant investments towards the development of collateral materials and proprietary processes through the use of outside consultants. Management now believes that they are properly equipped to aggressively pursue new clients and market share on a national level without incurring additional consulting expenditures in particular areas. President Christine Favara reports, "I am confident that we have acquired an appropriate level of professional resources to achieve our annual revenue goal of $250 million within 36 months. We have organized a fantastic team of extremely qualified individuals who are dedicated to taking the company to the next level. I truly believe that employers need our services now more than ever before. Even though the condition of the economy has forced businesses to reduce expenses wherever possible, companies still need to pay their personnel and manage their human resource issues in an efficient and cost effective manner." Note: The statements contained in this press release that are not historical facts are forward-looking statements that involve a number of risks and uncertainties. Therefore, the actual results of future events described in such forward-looking statements could differ materially from those stated in such forward-looking statements. Among the factors that could cause actual results to differ materially are: (i) regulatory and tax developments; (ii) the effectiveness of the Company's sales and marketing efforts; (iii) changes in the competitive environment of the industry; (iv) changes in general economic conditions; (v) changes in the Company's direct costs and operating expenses; (vi) the estimated costs and effectiveness of capital projects and investments in technology and infrastructure. (vii) Management's ability to effectively implement its business strategy. These factors are described in further detail in Core Solutions, Inc. filings with the Securities and Exchange Commission. -------------------------------------------------------------------------------- Contact: Core Solutions, Inc., Los Angeles Christine Favara, 213/483-7044 Facsimile: 213/483-7048