WHITEHOUSE, N.J., Oct. 31, 2003 (PRIMEZONE) -- AAMPRO GROUP, Inc. (OTCBB:AAPO), an Employee Leasing, HR Outsourcing Services and Payroll Company expounds upon its Diversification and Acquisition Oriented Dividend Strategy. Stephen Farkas explained, "Our vision for AAMPRO is to not only become a leader in the PEO and HR Outsourcing Industry but to also reward our shareholders on a consistent and continuous basis. Within the framework of that goal, AAMPRO formed a financial subsidiary to identify companies that could be acquired either outright or with a minority stake on an accretive basis. The next logical step is to share that accretion directly with our shareholders. To date, we have closed and announced four (4) such companies that are all in various stages of going public or being acquired. Below, each dividend is enumerated with its record date and an approximate payment date starting with the most recently announced. We have been inundated with congratulatory inquiries about how our management is committed to shareholder value so we wanted to provide a more in depth explanation as to our strategy and its execution."
Jason Hawk Industries, Inc.
AAMPRO acquired a 10% stake in Jason Hawk in September and is dividending out a 50% interest in that stake. AAMPRO shall retain the balance on its balance sheet. The date of record for shareholders is November 30, 2003 with the payment date expected to be December 31, 2003.
SK Realty Ventures, Inc.
AAMPRO acquired a 10% stake in SK Realty in September and is dividending out a 50% interest in that stake. AAMPRO shall retain the balance on its balance sheet. The date of record for shareholders is November 15, 2003 with the payment date expected to be December 15, 2003.
Security Pro, Inc.
AAMPRO acquired a 20% stake in Security Pro in the 2nd quarter and is dividending out a 75% interest in that stake. AAMPRO shall retain the balance on its balance sheet. The date of record for shareholders was September 15, 2003 with the payment date expected to be November 30, 2003.
Telco Energy, Inc.
AAMPRO shareholders as of March 31, 2003 are entitled to receive this dividend. The scope and size of this dividend will be fully enumerated within the next 10 days as it is a significant and positive material event in the Company's business cycle.
On July 31, 2003, the company forward split its stock 3 for 1, which not only increased liquidity in AAMPRO stock, but also has had a positive impact on the overall market capitalization. AAMPRO management, who are committed to building shareholder value, effectively utilized the post-split stock to continue with the company's Acquisition Strategy. Stephen Farkas continued, "We are continuously discussing strategies to build shareholder value in addition to the traditional organic business growth that we have achieved this year."
About AAMPRO:
The Company, through its subsidiary AAMPRO, Inc. ("AAMPRO"), primarily conducts its business operations as a professional employer organization ("PEO"). AAMPRO provides a broad range of services comprised primarily of employee leasing and human resources management. These services include payroll and benefits administration, health and workers' compensation insurance programs, state and federal labor compliance, tax filings, safety program design and management and other related services to small and medium-sized businesses nationally with a primary concentration in the tri-state (New York/New Jersey/Pennsylvania) region. AAMPRO was organized as a corporation in 1995 and has provided PEO services since inception. Additionally, AAMPRO operates AAMPRO-PAY, a payroll services company and AAMPRO Financial, LLC, a financial advisory and consulting firm.
AAMPRO's services are designed to improve the productivity and profitability of small and medium-sized businesses by relieving business owners and key executives of many employer-related administrative and regulatory burdens that enable them to focus on the core competencies of their businesses.
Forward-Looking Statements
This news release contains forward-looking statements about our business, or financial condition and prospects that reflect our assumptions and beliefs based on information currently available. We can give no assurance that the expectations indicated by such forward-looking statements will be realized. There may be other risks and circumstances that we are unable to predict. When used in this news release, words such as "believes," "expects," "intends," "plans," "anticipates," "estimates" and similar expressions are intended to identify forward-looking statements, although there may be certain forward-looking statements not accompanied by such expressions. All forward-looking statements are intended to be covered by the safe harbor created by Section 21E of the Securities Exchange Act of 1934.