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.

Technology Stocks : MSGI Marketing Services Group Inc. -- Ignore unavailable to you. Want to Upgrade?

To: LWolf who wrote (546)	4/22/1999 3:25:00 PM
From: wbASSETt	Read Replies (2) \| Respond to of 3418

MSGI Exercises Right to Convert GE Capital from Preferred to Common Shareholder of MSGI Business Wire - April 22, 1999 13:52 NEW YORK--(BUSINESS WIRE)--April 22, 1999--Marketing Services Group, Inc. (Nasdaq:MSGI), an integrated marketing and Internet services industry leader, today announced that the significant improvement in the Company's market capitalization have created an opportunity for MSGI to force conversion of GE Capital's 50,000 Preferred Shares into approximately 4.8 million shares of MSGI Common Stock. In conjunction with the conversion, all preferred shareholder rights, including quarterly dividends, financial covenants, acquisition approvals and board seats, will be cancelled effective immediately. As GE Capital remains the Company's largest shareholder, MSGI has requested and agreed that one GE Capital representative be re-appointed to the Board of Directors. GE Capital is the beneficial owner of a 25 percent minority stockholder position in MSGI. Jeremy Barbera, Chairman & CEO of MSGI stated "GE Capital has spent much of the last year diligently working to develop strategic business opportunities between GE and MSGI and we are now beginning to see the fruits of their labor. We appreciate the efforts of GE Capital during this Preferred shareholder period and look forward to their continued support over the next several years as a significant investor and a material client." About MSGI Marketing Services Group, Inc. is a leader in the marketing services and Internet marketing industries. MSGI's revenues have grown from $16 million in fiscal 1996 to in excess of $100 million on an annualized basis. MSGI organizes its business into two divisions: Marketing Services and its Internet Group. The MSGI Internet Group provides Internet marketing, e-commerce applications, Web development and hosting, online ad sales and consulting. Its Marketing Services Group provides strategic planning, direct marketing and database marketing, telemarketing and telefundraising, media planning and buying and fulfillment. MSGI plans to continue making acquisitions and investments in both Internet and marketing services companies. Thousands of clients worldwide are provided services by MSGI with offices throughout the United States and in London. Corporate headquarters are located at 333 Seventh Ave., New York, NY 10001. Telephone: 212/594-7688. Additional information is available on the Company's Website: msginet.com YES !!!!!!!! wbASSETt