MANALAPAN, N.J., April 18, 2006 (PRIMEZONE) -- AccountAbilities, Inc. (Pink Sheets:ACBT), a provider of specialized staffing solutions, announced today that it has executed an Asset Purchase Agreement for five (5) offices of US Temp Services staffing business. These offices are located in Burbank, California; Montebello, California; Stockton, California; Colorado Springs, Colorado; and Las Vegas, Nevada.
The company noted that the acquisition expands and strengthens AccountAbilities' presence in the contract Staffing field, particularly in California. The acquisition also opens two new markets for the company in Colorado and the fast growing Las Vegas area.
Commenting on the acquisition, Allan Hartley, President of AccountAbilities, stated, "This action reflects our strategy to complete acquisitions that we can integrate seamlessly and are immediately accretive to earnings. The revenues from the five offices we acquired exceeded $22 Million in the year 2005."
Ronald Shapps, Chairman of the Board of Directors of AccountAbilities, states, "In a relatively short period of time, our company has achieved a yearly sales revenue in excess of $50 million in revenues. We continue to see strong acquisition opportunities in a fragmented marketplace, and in partnering with key regional professional accounting firms."
About AccountAbilities Inc.
AccountAbilities (Pink Sheets:ACBT) is engaged in the professional staffing industry, providing Accounting, Finance, Engineering and Work Force Solutions (www.aabilities.com).
The statements which are not historical facts contained in this press release are forward-looking statements that involve certain known and unknown risks and uncertainties, including but not limited to, changes in the market for Internet or distribution services, regulatory and technological changes, economic factors, increased competition, foreign currency devaluation, foreign market risk, and the nature of supplier of customer arrangements which become available to the Company in the future. The Company's actual results may differ materially from the results discussed in or implied by any forward-looking statement. The words "intend," "expect," "should," "project," "anticipate" and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they were made.