IRVINE, Calif., Nov. 21, 2003 (PRIMEZONE) -- TransWorld Benefits International, Inc. (TBII) (OTCBB:TBII) today announced that a significant part of TBII's acquisition announced on November 18, 2003 with Park Avenue Partners LLC, will be the Trade Services Business.
Yesterday, TransWorld Benefits International, Inc. announced that a Letter of Intent (LOI) was signed to acquire several million dollars in assets and earnings expected to exceed $1,000,000 in 2004, with Park Avenue Partners, LLC who provides a full range of funeral services in the New York metropolitan area.
According to Chuck Seven, CEO of TBII, based on current agreements, the Trade Services Business in metropolitan New York is expected to exceed 2003 gross sales of approximately $750,000 by at least 50% in 2004 with earnings between $300,000 and $450,000. Park Avenue's Trade Services Business provides ground handling of decedent including removal from place of death, embalming, transportation, filing of necessary forms, certificates, and any other services necessary for final disposal. Approximately 30% of these service calls require aircraft/airline travel to their final destination.
These services are also provided by TBII's Above and Beyond product for all market segments such as Cemetery & Funeral, Travel, Corporate Insurance, Associations and Credit Card companies. The alliance decreases TBII's overhead and provides profits for the services not obtainable under TBII's current service format.
Park Avenue's Trade Services Business will be expanded nationally as well as worldwide through TBII's field sales and marketing organization and customer base in all markets.
Another area of significance are airline contacts and the opportunity this presents in managing ground handling and ship-outs of the deceased as well as medical evacuation through TBII's exclusive network of 1,000 private executive aircraft.
About TransWorld Benefits International, Inc.
TransWorld Benefits International, Inc., through its exclusive program, Above and Beyond, offers emergency assistance for travelers in cases of injury or death. Above and Beyond has redefined the concept of worldwide air ambulance, medical evacuation, and at-need private executive aircraft retrieval of deceased persons. TransWorld has under contract more than 1,000 private executive aircraft including both turbo-prop and multi-prop, multi-engine planes, float planes, bush planes with tundra tires, and STOL aircraft with rear ramps.
The fleet also extends to ultra-long range business jets that can go from any point in the globe to another with no more than one fuel stop. TBII markets it products through various industries, i.e., funeral and cemetery companies, Insurance companies, travel agencies, credit card companies, major corporations, cruise lines, etc. that have well-developed channels of distribution and millions of active sales agents. Above and Beyond is offered in lifetime, annual and per trip programs and is fully backed with a performance guarantee secured with an "A" rated re-insurance company. TBII headquarters are located in Irvine, California. Ph (949) 975-0077 Fax (949) 975-1177.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the Company is detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.