Advanced Marketing Services, Inc. Announces Appointment of Marc E. Ravitz to the Board of Directors.Meeting of Stockholders Adjourned to February 23, 2007 SAN DIEGO San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. -- Advanced Marketing Services, Inc. (Pink Sheets[R]: MKTS MKTS Military Knowledge and Testing Standard ) ("the Company"), a leading provider of customized merchandising, wholesaling and contract distribution services, today announced that the Company's Board of Directors has appointed Marc E. Ravitz, CFA (Computer Fraud and Abuse Act of 1986) Signed into law in 1986, the CFA was a significant step forward in criminalizing unauthorized access to computer systems and networks. The Act applies to "federal interest computers" that include any system used by the U.S. , as a director of the Company. Mr. Ravitz is Executive Vice President of Grace & White, Inc., an investment advisory firm which, together with certain other affiliated entities and persons, controls approximately 12% of the Company's common stock. "Marc's firm has been a stockholder for many years. We're pleased that he has joined the Board, and we look forward to his contributions," said Robert F. Bartlett, the Chairman of the Board. Mr. Ravitz stated: "I look forward to working with the other members of the Board and management to chart a positive course for the Company." The Company also announced that the Company's meeting of stockholders, which was scheduled to be conducted on January 24, 2007, was adjourned until 8:00 a.m. Pacific Standard Time on February 23, 2007, at the Company's offices in San Diego, California “San Diego” redirects here. For other uses, see San Diego (disambiguation). San Diego is a coastal Southern California city located in the southwestern corner of the continental United States. As of 2006, the city has a population of 1,256,951. . The meeting was adjourned because less than a majority of the Company's shares outstanding and entitled to vote were represented at the meeting. The record date for the meeting remains December 26, 2006, and only stockholders of record as of the close of business on that date will be entitled to vote at the meeting. The Company filed a petition pursuant to chapter 11 of the Bankruptcy Code on December 29, 2006, and is conducting business as a debtor in possession debtor in possession n. in bankruptcy proceedings when a debtor has filed for the right to submit a plan for reorganization or refinancing under Chapter 11, and the debtor is allowed to continue to manage his/her/its business without an appointed trustee, that debtor . ABOUT ADVANCED MARKETING SERVICES Headquartered in San Diego, California, the Company is a leading provider of customized merchandising, wholesaling, distribution and publishing services, currently primarily to the book industry. The Company has operations in the U.S., Mexico, the United Kingdom and Australia and employs approximately 1,200 people worldwide. The Company provides a wide range of value-added services that provide its retailer customers with book buying advice, promotional support and expert supply chain management, to ensure the success of their book programs. The Company's proprietary Vendor Managed Inventory Vendor Managed Inventory (VMI) is a family of business models in which the buyer of a product provides certain information to a supplier of that product and the supplier takes full responsibility for maintaining an agreed inventory of the material, usually at the buyer's (VMI VMI Virginia Military Institute VMI Vendor Managed Inventory VMI Vertical Motion Index VMI Valtakunnan Metsien Inventointi (Finnish: National Forest Inventory) VMI Video Module Interface ) software is a unique tool that allows its book specialists to manage efficiently and effectively the book distribution supply chain for the benefit of its membership warehouse club customers. Publishers Group Worldwide (PGW PGW Philadelphia Gas Works PGW Publishers Group West PGW Precision Guided Weapons PGW Payment Gateway PGW Pressure Gas Welding PGW Pesticides in Ground Water PGW Parallel Gap Welding PGW Propylene glycol/water PGW Project on Girls and Women ), an alliance of the Company's global contract distribution operations, provides independent publishers with exclusive full service English language sales and distribution services. Recent public announcements about the Company are available on both the Company's Website, www.advmkt.com, and on BusinessWire, www.businesswire.com. |
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