latest news releases from the newsroom
Seven Pandox-Owned Hotels Changes Brand
STOCKHOLM, Sweden, Jan. 29. 2002 (PRIMEZONE) -- Pandox AB (publ) and Scandic/Hilton have reached agreement to rebrand seven Pandox-owned hotel properties. The decision has been reached after extensive market studies where different brands have been evaluated and benchmarked against each hotels competitor group and product segment. After negotiations and amendments to lease agreements, where the allocation and financing of the costs are included, the Pandox hotel property portfolio is further developed with five Hilton hotels and two Scandic hotels.
The State Authorities in Sundsvall, Sweden, Sign General Agreement with TietoEnator
ESPOO, Finland, Jan. 29, 2002 (PRIMEZONE) -- TietoEnator has signed a general agreement with the National Board of Student Aid, the company department of the Swedish Patent and Registration Office, the National Social Insurance Board and the National Government Employee Pensions Board. The agreement further strengthens TietoEnator's position as supplier of IT consultancy services to the state authorities.
Frontline: Mandatory Notification of Trade
OSLO, Norway, Jan. 29, 2002 (PRIMEZONE) -- Frontline (NYSE:FRO) has, based on the Stock Indexed Total Return Swap Program with Nova Scotia Group (Scotia), been informed that the latter, through market purchases executed today, has acquired 75,000 Frontline common shares. The shares have been acquired at an average price of NOK 85,62.
Old Mutual plc
Old Mutual--U.S. Holdings Assets Under Management as at December 31, 2001
LONDON, Jan. 29, 2002 (PRIMEZONE) -- Old Mutual (US) Holdings (LSE:OML), the U.S. holding company for Old Mutual's US asset management businesses, has reported a net inflow of client assets in 2001 of US$4.4 billion, or 2.5% of total assets as at December 31, 2000. That gain was offset by a decline of US$9.4 billion or 5.3% in assets as a result of market movements and by an additional US$23.0 billion or 12.9% from the divestitures of non-strategic affiliates. On December 31, 2001, total assets under management were US$149.9 billion compared to US$177.9 billion on December 31, 2000, an overall decrease of 15.7%.
Lone Star Steak House & Saloon
Lone Star Steakhouse & Saloon, Inc. Announces Fourth Quarter Earnings
WICHITA, Kan., Jan. 28, 2002 (PRIMEZONE) -- Lone Star Steakhouse & Saloon, Inc. (Nasdaq:STAR) announced operating results for the fourth quarter and the fiscal year ended December 25, 2001. For the sixteen week fourth quarter ended December 25, 2001, adjusted net income (net income before unusual charges and credits, including non-cash stock compensation) increased 377% to $11,819,000 or $0.49 per share ($0.46 diluted) compared to $2,477,000 or $0.10 per share ($0.10 diluted) for the same quarter last year. Unusual items net of applicable tax for the fourth quarter of 2001 was a net charge of $8,499,000 or $0.35 per share compared to a net charge of $1,855,000 or $0.07 per share in 2000 resulting in net earnings of $3,320,000 or $0.14 per share ($0.13 diluted) for the fourth quarter 2001 compared to $622,000 or $0.03 per share ($.03 diluted) in 2000.
Press Release Network
Proxyconn Announces the Availability of Internet Acceleration Service for Dial-Up Users
NEWPORT BEACH, Calif. Jan. 28, 2002 (PRIMEZONE) -- Proxyconn, Inc. (www.proxyconn.com), a leading provider of Internet acceleration services, announced today the availability of the Internet Acceleration Service for Dial-up users. The service is available to ISP's, home users and businesses. Utilizing advanced compression and caching technology, the company deployed a nation-wide high-speed network, allowing for complete coverage in North America. The acceleration service boosts dial-up connection speed by at least 100%. Users with 56Kbps modems receive an effective speed of close to 100Kbps.