CollegeLink Agrees to Sell Assets to TMP Worldwide.Business/Technology Editors BRISTOL, R.I.--(BUSINESS WIRE)--Feb. 8, 2001 CollegeLink.com Incorporated (AMEX AMEX See: American Stock Exchange : APS) today announced that it has executed a definitive purchase agreement to sell substantially all of its assets to TMP TMP (thymidine monophosphate): see thymine. Worldwide Inc., the parent of Monster.com. The purchase price is $5.4 million plus the assumption of substantially all of CollegeLink's liabilities. If the value of assumed liabilities exceeds the value of CollegeLink's tangible and certain other assets other assets Assets of relatively small value. For financial reporting purposes, firms frequently combine small assets into a single category rather than listing each item separately. at the time of the closing, the purchase price will be reduced by that amount. The transaction is subject to the approval of CollegeLink stockholders as well as certain other contingencies. CollegeLink intends to change its name at the closing of the transaction and thereafter will examine business opportunities as they arise, including opportunities to acquire other companies, to be acquired by other companies, or to develop new businesses. The Company does not plan to distribute any assets to its stockholders. CollegeLink is a leading provider of online pre-college services, including college searches, college admission, scholarship search, electronic college applications, financing college and college success. Additionally, CollegeLink's Making It Count Presentation Programs are the nation's leading student training and advisory programs, providing students with a template (1) A pre-designed document or data file formatted for common purposes such as a fax, invoice or business letter. If the document contains an automated process, such as a word processing macro or spreadsheet formula, then the programming is already written and embedded in the for success in high school, college and beyond. The Program's success messages are delivered through such formats as live in-school presentations, an instructional book, the Internet and a free monthly newsletter. Making It Count sponsors include Fortune 500 corporations, educational institutions and service firms. This release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of 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. Forward-looking statements involve risks and uncertainties that may affect the companies' business prospects and performance. These include economic, competitive, governmental, technological and other factors discussed in the statements and in the companies' filings with the Securities and Exchange Commission. |
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