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Technology Stocks : CCGI: ComTech Consolidated -- Ignore unavailable to you. Want to Upgrade?

To: (Bob) Zumbrunnen who wrote (21)	3/18/1998 9:38:00 AM
From: Chris Pensinger	Read Replies (1) \| Respond to of 394

Company Press Release: Wednesday March 18, 8:02 am Eastern Time SOURCE: ComTech Consolidation Group, Inc. ComTech Consolidation Group, Inc. Announces New Health Care Contract HOUSTON, March 18 /PRNewswire/ -- ComTech Consolidation Group Inc. (OTC Bulletin Board: CCGI - news) today announced the execution of a new long term service contract by its newly acquired wholly owned subsidiary Professional Management Providers (PMP). Under the new contract, with Deliverance Home Health Care, (DHHC) a Baton Rouge, Louisiana based home health provider, PMP expects to bill and receive over $2.5 million on behalf of DHHC for which it projects to earn over $300 thousand in management fees, and earn approximately $100 thousand EBIT. ComTech, a consolidation company, through PMP is aggressively seeking out additional agency management service contracts, as well as home health care agencies for consolidation (acquisition), to also be managed by PMP. ComTech stated, ''The new DHHC contract brings the total number of health care agencies under service contract with PMP to thirteen. Although the new contract only increases our forecasted 1998 health care related income by less than 2% from $10.2 million to $10.5 million and improves our 1998 forecasted EBIT from $1.7 million to $1.8 million, more significantly it positions PMP to further capitalize in this strategic 50 mile radius market as dictated by Medicare, due to the Grandfather clause of the 1993 license held by DHHC.'' ''Our experience reveals that timely collections are the number one problem plaguing smaller health care providers, and by the introduction of computer technology, i.e. networked hand held units, we offer a high degree of quality assurance which translates into sharp reduction of Medicare Medicaid Billing denials, thereby dramatically increasing cash flow. Through performance we have been able to build up Agency confidence in our ability to produce accurate and timely reports!'' states William Dickerson, PMP President. ComTech also stated, ''In the immediate short term, we have strong reason to believe that one (1) of previously announced five (5) Health Care Agency acquisitions secured under Letters of Intent will be closed and announced before the end of March, which is intended to coincide with the planned announcement regarding ComTech's filing to become a full reporting company.'' Statements regarding financial matters in this press release other than historical facts are ''forward-looking statements'' within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results. SOURCE: ComTech Consolidation Group, Inc.