TUSTIN, Calif., Nov. 1, 2004 (PRIMEZONE) -- VillageEDOCS (OTCBB:VEDO) announced today the formation of MessageVision as a wholly owned subsidiary of VillageEDOCS. Operating the MessageVision business as a subsidiary will enable shareholders to better see the success of the business information delivery service. The Company believes that this realignment will better position VillageEDOCS for enhanced growth by expanding the Company's acquisition capacity.
Pursuant to a Plan of Internal Restructuring approved by a majority of shareholders on June 16, 2004, VillageEDOCS will contribute substantially all of its existing electronic document delivery assets to the MessageVision subsidiary. VillageEDOCS will continue operations as a holding company for both MessageVision and Tailored Business Systems, and will continue to focus on assembling a greater collection of people and strategic technologies to achieve its overall business information delivery vision.
As its MessageVision business expands, the Company will step up efforts to recruit additional leadership to continue to drive the growth of this segment of overall operations. For the present time, Mason Conner, VillageEDOCS' President and Chief Executive Officer, will also function as President of the MessageVision unit.
"The changes announced today establish the appropriate operating framework for VillageEDOCS and represent a go-forward structure that is suitable to our acquisition program," said Mr. Conner.
Over the next several months, the services and solutions currently available at the existing service web site www.villagefax.net will be migrated to www.messagevision.com.
About VillageEDOCS
VillageEDOCS, through our MessageVision subsidiary, is a leading provider of comprehensive business-to-business business information delivery services and products for organizations with mission-critical needs, including major corporations, government agencies and non-profit organizations. Through our Tailored Business Systems subsidiary, we provide accounting and billing solutions for county and local governments. For further information, visit our website at www.villageedocs.com.
Contact Information: Phone: 714.734.1030, Fax: 714.734.1040, email: info@villageedocs.com, Corporate Website: www.villageedocs.com Service Website: www.villagefax.net.
Cautionary Statement Regarding Forward-Looking Information
All statements in this press release that do not directly and exclusively relate to historical facts constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements represent the Company's plans, intentions, expectations and belief and are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected or expressed herein. These include uncertainties in the market, competition, legal, regulatory initiatives, success of marketing efforts, availability, terms and deployment of capital, and other risks detailed in the Company's SEC reports, of which many are beyond the control of the Company. The Company assumes no obligation to update or alter the information in this news release. Investors are cautioned not to put undue reliance on any forward-looking statements. For these statements, we claim the protection of the safe harbor for forward-looking statements contained in Section 21E of the Exchange Act.