LAS VEGAS, Dec. 30, 2003 (PRIMEZONE) -- Today, Arland D. Dunn, President and CEO of 21st Century Technologies, Inc. (OTCBB:TFCT) announced the acquisition of Paramount MultiServices, Inc., a Texas-based marketing firm with offices in Duncanville, Corpus Christi and Alliance, Nebraska. Mr. Dunn said, "Paramount comes to us with a substantial history of profitable operations. Paramount has engaged in marketing representation on behalf of major banking institutions, publishers, transportation companies and manufacturers. 21st will be able to integrate the services offered by Paramount with other ventures in our future which will enable Paramount to grow as part of our family. We expect that Paramount's present $2.8 million annual revenues will grow with 21st Century. Paramount adds marketing experience, skills and know-how to 21st Century."
Paramount's gross revenues for 2003 are approximately $2.8 million, with about $850,000 occurring the fourth quarter. Expected revenues for 2004 based on present contracts are projected to be $4.2 million with a commensurate increase in profit.
Mr. Dunn also stated that the acquisition involved the exchange of stock and cash. 21st now owns 100% of Paramount. Present management of Paramount will be retained to continue to contribute to that enterprise's success.
21st Century Technologies is a business development company. In addition to Paramount, 21st is the owner of Trident Technologies, Inc., which manufactures SeaPatch and ProMag magnetic leak-sealing systems used by fire departments, railroads, oil companies, shippers and emergency response teams; and, Innovative Weaponry, Inc. plus Miniature Machine Corporation, manufacturers of low light, no light and precision adjustable gunsights employed by law enforcement, military and serious enthusiasts.
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