Continental Information Systems Corporation Announces Joint Venture With Laser Solutions International.NEW YORK--(BUSINESS WIRE)--Feb. 25, 1998--Continental Information Systems Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CISC (Complex Instruction Set Computer) Pronounced "sisk." The traditional architecture of a computer which uses microcode to execute very comprehensive instructions. ) announced today that it had entered into a letter of intent to form a joint venture to combine its printing business, conducted under the name of LaserAccess, with Laser Solutions International, L.I.C. ("LSI LSI: see integrated circuit. (Large Scale Integration) Between 3,000 and 100,000 transistors on a chip. See SSI, MSI, VLSI and ULSI. ") of Carlsbad, California Carlsbad is a coastal resort-town in northern San Diego County, California. According to the state Department of Finance, the city had a total population of 90,271 in 2003. . The new venture will be jointly managed by current LSI management and LaserAccess personnel. Financing and leasing services to the new entity are to be provided by Continental. The parties contemplate reaching a definitive agreement by approximately March 31, 1998. "We believe this venture will stabilize stabilize See peg. and enhance results of our laser printing business," said Jonah M. Meer, Chief Operating and Chief Financial Officer of Continental. "Continental and LSI bring complementary expertise to the venture. We also believe it will result in significant savings and improved profitability by reducing expenses," added Meer. Continental Information Systems Corporation is engaged in buying and selling commercial aircraft and engines, high-speed production laser printing systems and certain other industrial equipment, in addition to providing real estate financing and leasing services. This press release contains forward looking statements that involve risks and uncertainties. The actual results may differ significantly from those currently anticipated. Among the factors that could cause actual results to differ materially are those set forth above and the other risk factors described from time to time in the Company's reports filed with the SEC. The Company wishes to caution readers not to place undue reliance on any such forward looking statements, which statements are made pursuant to 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 and, as such, speak only as of the date made. CONTACT: Continental Information Systems, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Jonah M. Meer, 212/771-1000 or Steven Anreder, 212/421-4020 |
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