AGI Logistics Teams Up With Pacific CMA.Business Editors NEW YORK--(BUSINESS WIRE)--March 7, 2002 Pacific CMA CMA - Concert Multithread Architecture from DEC. , Incorporated (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :PCCM PCCM Primary Care Case Management PCCM Pediatric Critical Care Medicine PCCM Princeton Center for Complex Materials PCCM Parallel Community Climate Model PCCM Master Chief Postal Clerk (Naval Rating) ) announced today that it has acquired all assets of Hong Kong-based logistics and freight forwarder An individual who, as a regular business, assembles and combines small shipments into one lot and takes the responsibility for the transportation of such property from the place of receipt to the place of destination. AGI (Artificial General Intelligence) A machine intelligence that resembles that of a human being. Considered impossible by many, most artificial intelligence (AI) research, projects and products deal with specific applications such as industrial robots, playing chess, Logistics (HK) Ltd. Alfred Lam, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , said: "We are extremely excited about the AGI acquisition. In our opinion, the acquisition of an established system integrated logistics company makes absolute business sense. In the wake of an economic upturn, the markets that AGI services are positioned for exceptional growth. We believe that AGI's superior technology supply system will be attractive to companies searching for highly reliable and cost-efficient logistics solutions." Established in 1998, Hong Kong-based AGI Logistics (HK) Ltd. currently employs 120 individuals worldwide. Recently released financial statements show that for the fiscal year ending December 31, 2000, the company earned in excess of 110 Million Hong Kong Dollars (approximately $14 Million U.S. Dollars) net income of approximately HKD HKD In currencies, this is the abbreviation for the Hong Kong Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 6.5 million (approximately $850,000 USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ). About AGI Logistics (HK) Ltd. AGI Logistics (HK) Ltd. is a non-asset-based logistics service provider/freight-forwarding company based in Hong Kong that arranges on time and intact delivery of goods primarily through the ports of Hong Kong to customers worldwide. AGI has developed a proprietary, secure, and highly scalable supply chain management system to enhance its information system. AGI believes that the early adoption of cutting-edge technology has been a key component in reducing costs and maintaining an efficient tracking system. For more information on the company, please visit their website www.pacificcma.com. Safe Harbor Statement Under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 In addition to the historical information presented, this release also includes certain forward-looking statements concerning financing, the recapitalization transactions and trends in operating results. Such statements represent the Pacific CMA's reasonable judgment on the future and are based on assumptions and factors that could cause actual results to differ materially. Examples of relevant assumptions and factors include, but are not limited to, general economic and business conditions, industry trends, technological developments, Pacific CMA's ability to continue to design and deploy efficient network routes, obtain and maintain any required regulatory licenses or approvals and finance network development, all in a timely manner, at reasonable costs and on satisfactory terms and conditions, as well as assumptions about customer acceptance, churn rates, overall market penetration and competition from providers of alternative services, the impact of restructuring and integration actions, the impact of new business opportunities requiring significant up-front investment, exchange rate fluctuations, interest rate fluctuations, and availability, terms and deployment of capital. Pacific CMA assumes no obligation to update these forward-looking statements to reflect actual results, changes in assumptions or changes in factors affecting such statements. |
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