Cross Media Announces Acquisition of World-Class Online Marketing Team.Business Editors NEW YORK--(BUSINESS WIRE)--April 23, 2001 Team to Aggressively Accelerate Implementation of Next Generation Online Marketing Capabilities Cross Media Marketing Corporation (AMEX AMEX See: American Stock Exchange : XMM XMM - Extended Memory Manager ), a leading technology-driven international marketing company, announced today the addition of a world-class online marketing team to significantly enhance its online management capability for accelerated implementation of the company's next generation online marketing capabilities. The announcement was made jointly by Ronald Altbach, Chairman and Chief Executive Officer of Cross Media and Steven Gerber, Cross Media Vice President-Internet Marketing and team leader. Mr. Gerber was formerly Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Hotsocket, Inc., a preeminent interactive direct marketer, where he served as a principal architect of the development of cutting-edge technologies and marketing strategies. Mr. Gerber was formerly a principal consultant in PricewaterhouseCoopers' strategy consulting practice and part of the New Media team at Readers Digest Association. Mr. Gerber has extensive experience in the migration of traditional direct marketing onto the Internet and other electronic media designed to significantly accelerate traffic resulting in substantially improved revenues and earnings. The other team members joining Mr. Gerber are Josh Reznick as Director of Internet Marketing See Internet advertising. and Jason Zenna and Shannon Smith For the Canadian swimmer, see . Shannon Smith (1985 – 1999) was a teenager from Phoenix, Arizona, whose death by a stray bullet led to changes in Arizona gun laws, strengthening penalties for random discharge of firearms. as Directors of Business Development. Mr. Altbach stated, "We are extraordinarily thrilled to have attracted this talented team which represents yet another step in our commitment to high technology targeted marketing with a mission to further increase market dominance Market dominance is a measure of the strength of a brand, product, service, or firm, relative to competitive offerings. There is often a geographic element to the competitive landscape. and shareholder value. With the addition of these exceptional people to our existing talented management, we expect to offer our first group of webcentric products in the third quarter of this year. Our acquisition of Wefusion.com in the fourth quarter 2000 brought us highly sophisticated database management capabilities which are providing us with the ability to profile and segment our data in real time and allowing us to set the next generation standard for the marriage of high technology and targeted marketing. We believe the combination of the Wefusion technology and our ability to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. them through our new Internet See Web 2.0 and Internet2. marketing group will contribute substantially to both revenue and earnings growth." Mr. Altbach went on to say, "In addition to our previously announced significant increase in revenues in excess of 50% to an approximate $100 million this year over last and our projected earnings of approximately $.22 to $.25 earnings per share in this year, we have also publicly articulated a clear strategy to continue acquiring customers on a negative cost basis while combining established marketing skills and channels with newer technologies and sophisticated data management. The addition of this team will accelerate our ability to execute this strategy. Few companies can offer investors the management credentials, the earnings, the growth rate or the credibility that Cross Media Marketing can offer." Mr. Gerber commented, "It's very exciting to join Cross Media as it continues to aggressively implement its proven winning formula, combining a multi-product and multi-channel approach. We will build on the company's current assets Current Assets Appearing on a company's balance sheet, it represents cash, accounts receivable, inventory, marketable securities, prepaid expenses, and other assets that can be converted to cash within one year. and capabilities to increase our Internet and digital marketing presence worldwide as well as expand our product portfolio. Senior management's commitment to embrace emerging technologies to further increase its decidedly competitive edge is to be applauded. We are very enthusiastic about the ongoing successes of Cross Media and this opportunity in particular." About Cross Media Marketing Corporation Cross Media Marketing Corporation is a technology-driven marketing company integrating its sophisticated direct marketing skills with cutting-edge technologies, including interactive voice response and web-based systems, resulting in a multi-dimensional marketing platform for the targeted marketing of products and services. Cross Media Marketing seeks to achieve revenue growth and earnings leverage by cross marketing products and services through multiple channels to an expanding multi-million customer base utilizing state-of-the-art direct marketing strategies. Through Cross Media Marketing's voice-driven customer acquisition programs, Cross Media Marketing contacts and retains critical data on more than thirteen million persons annually. The Company continues to exploit its expansive database in other technology-driven marketing channels, facilitating additional e-commerce transactions to increase revenues while concurrently lowering costs and increasing margins. For more information about Cross Media Marketing, visit the Investor Relations Investor relations The process by which the corporation communicates with its investors. section of www.xmmcorp.com or email investor-relations@xmmcorp.com. Cautionary Statement Certain statements contained herein and in the information posted on the Company's website described above that are not based on historical fact are "forward looking statements' within the meaning 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. Cross Media Marketing Corporation intends that such 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. be subject to 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. created thereby. In addition to the 2001 revenue and earnings per share projections contained in this release, these forward-looking statements regard Cross Media Marketing's acquisition activities, revenues, earnings, liquidity, financial condition, and ability to exploit its database and certain technological innovations and certain operational matters. Such forward-looking statements are based on current expectations but involve certain risks and uncertainties. Cross Media Marketing's actual results, performance or achievements could differ materially from the results, performance or achievements projected in, or implied by, such forward-looking statements as a result of risk factors including without limitation the following: Cross Media Marketing's need to raise additional debt and/or equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. , the adequacy of bad debt reserves, changes in economic conditions or a material decline in the availability of consumer credit, interest rate fluctuations, Cross Media Marketing's limited operating history, Cross Media Marketing's strategy of growth through acquisitions, competitive factors, the need to manage growth, volatility in the market price of the Common Stock, risks relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc government regulation of telemarketing telemarketing, the practice of selling goods or services to customers by means of the telephone or of surveying consumer preferences in telephone conversations. and internet marketing activities, and potential dilution potential dilution The decrease in the proportional equity position of a share of stock that will occur eventually if additional authorized shares are actually issued. . These factors are described in detail in Cross Media Marketing's 1999 Form 10-KSB and its Forms 10Q-SB filed with the SEC, which are incorporated by reference. Cross Media Marketing assumes no responsibility to update the information included in this press release or on its website, whether as a result of new information, future events or otherwise. |
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