To: Joe Copia who wrote (27 ) 8/20/1998 4:35:00 PM From: aleta Respond to of 60
Enhanced Services Moves to New Headquarters, Launches Search for New CEO EL SEGUNDO, Calif.--(BUSINESS WIRE)--Aug. 20, 1998--Enhanced Services Company Inc. (NASDAQ SMALL CAP:ESVS - news) announced today that the company will move to a new group headquarters facility in Los Angeles and also has hired Morgan Samuels Co. of Beverly Hills, Calif., a prestigious West Coast executive search firm, to identify potential CEO candidates to manage the company's rapid growth and consolidation. A company spokesman said: ''ESVS has undergone rapid growth during the past year resulting from the pending combination with Zulu Tek (OTC Bulletin Board:ZULU -news), the pending acquisition of eCommerce Corp. and the need to expand internally to service a rapidly expanding client list. The move to a new 15,000-sq.-ft. facility at 3415 Sepulveda Blvd., Los Angeles, which is expected to be completed by Monday, August 24, provides the company with the necessary physical space to accommodate growth. ''In addition, we have launched an exhaustive search for potential CEO candidates. We are delighted so far with the caliber and depth of the candidates under consideration, and believe that adding a recognized industry leader to the team represents a key step toward the successful management of the company's rapid growth.'' ESVS also is recruiting seven project managers for its eCommerce business. ESVS is pursuing the purchase of eCommerce Corp. for a combination of cash and stock. The marriage will result in a one-stop shopping electronic commerce organization offering the full spectrum of graphics design and technology, Internet advertising, digital marketing and database fulfillment services. eCommerce will become a subsidiary of ESVS. ESVS also recently invested in Zulu-Tek Inc. (OTC Bulletin Board: ZULU - news). A business combination plan is planned once stockholder and regulatory approval is obtained. Forward-looking statements in this release concerning trends or anticipated operating results are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not guarantees of future performances and are subject to risks and uncertainties related to the Company's operations. These risks and uncertainties include, but are not limited to, competitive factors (including the possibility of increased competition or technological development, competitors and price pressures); legal factors (such as limited protection of the Company's proprietary technology and changes in government regulation); and the company's dependence on key personnel and significant customers. ---------------------------------------------------------------- Contact: Mark Wachs & Associates, New York Mark Wachs 212/832-2800 www.zulumedia.com www.ecommerce.com