Cross Media Marketing Corporation Agreement With Interactive Marketing Technologies Group Will Add 8.5 Million Prospective Consumer Contacts to Current 11 Million Base for 2000 and Additional 17.5 Million in 2001.Business Editors NEW YORK--(BUSINESS WIRE)--January 10, 2001 Agreement Will Also Streamline Marketing Technologies And Reduce Costs Cross Media Marketing Corporation (AMEX AMEX See: American Stock Exchange : XMM XMM - Extended Memory Manager ) today announced the signing of an agreement with Interactive Marketing Technologies Group, Inc., a privately held, full service direct response media and marketing company. The three-year agreement is expected to increase revenues for Cross Media Marketing by increasing the number of customer contacts made by Cross Media Marketing. In addition, the agreement calls for Interactive Marketing Technologies to assist Cross Media Marketing in streamlining its marketing methodologies in order to reduce costs and increase efficiencies. Cross Media Marketing's in-house and independent telesales telesales Noun the selling of a commodity or service by telephone telesales npl → televentas fpl telesales npl → centers presently contact more than 11 million consumers annually to sell magazine subscriptions, discount buying club memberships and telecommunication services. Under the agreement announced today, IMTG will provide a minimum of 8.5 million additional new consumers to contact in 2001 and 17 million in 2002, contributing strongly to the projected increase in revenues and earnings per share reported by the Company in its December 28th, 2000 press release. At that time, Cross Media Marketing announced it expects revenues to grow from approximately $6 million for FY 2000 to between $99 million - $111 million for FY 2001, a 56% to 76% increase. IMTG's role as Cross Media Marketing's exclusive agent is expected to result in incremental Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. revenues of $600,000 in 2001 and $1.5 million - $2.0 million in 2002. The agreement with IMTG provides five-year warrants to IMTG to purchase up to 330,000 shares of Cross Media Marketing's common shares at an exercise price of $2.19, which vest only upon attainment of quarterly and annual performance targets. Chris Thompson
Chris Thompson (also known as Chris Hamlet Thompson , Cross Media Marketing's Chief Technology officer, commented, "The IMTG agreement marks another important step in our quest to overlay (1) A preprinted, precut form placed over a screen, key or tablet for identification purposes. See keyboard template. (2) A program segment called into memory when required. sophisticated data management technologies on Cross Media Marketing's already successful and profitable traditional direct marketing business. Our database architecture is perfectly suited to the sorting and testing of data which IMTG will initially direct but which eventually will be managed by our in-house IT staff." Richard Kaufman, Cross Media Marketing's President and 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. said of the agreement, "Our strategy involves understanding each of the millions of customers in our database. By allying with Interactive Marketing Technologies Group, we not only will be capturing more data but also will enhance that data with valuable imported information from IMTG data sources so as to be able to manipulate the overall information for maximum financial results." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Alan Rosen, IMTG's Chief Operating Officer, IMTG will develop and deliver organized analytical reports that will enable XMM to have real time data from its marketing information, and will define comprehensive procedures for list ordering, analyzing results, and reporting. He said, "We will create a robust promotional list database using the most advanced modeling selection capabilities to produce consistent and improved results while at the same time reducing unnecessary costs. Ron Altbach, Cross Media Marketing's Chairman 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. , and I have been working on this for a year and we are both very pleased to see this alliance consummated." About Cross Media Marketing Corporation Cross Media Marketing Corporation, formerly Symposium Corporation, is a technology-driven, direct 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 international exploitation 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 eleven million persons annually. The Company continues to exploit its expansive database in other technology-driven marketing channels, facilitating additional e-commerce transactions resulting in greater revenues while concurrently lowering costs and increasing margins. Cross Media Marketing recently launched a state-of-the-art e-commerce site, Symposium Marketplace, (www.symposiummarketplace.com), in a strategic partnership with Cendant Membership Services, a subsidiary of Cendant Corporation. The Symposium Marketplace is a membership-based, on-line buying club offering its members an on-line superstore. About Interactive Marketing Technologies Group For more than 30 years IMTG's principals and its affiliates have successfully executed billions of direct response advertising impressions on behalf of a Who's Who Who’s Who biographical dictionary of notable living people. [Am. Hist.: Hart, 922] See : Fame client roster that has included Time Warner, American Family American Family is a photographic artwork exhibition by Renée Cox. See also
The company started by marketing privately-minted gold and silver commemorative rounds and medallions, but quickly branched , Home Shopping Network “HSN” redirects here. For other uses, see HSN (disambiguation). The Home Shopping Network (HSN) is a mostly 24-hour shopping network that is seen on cable, satellite, and some terrestrial channels in the United States. , Columbia House, Sprint, Cendant Corp., and many more equally impressive direct marketing companies. Additional Information Cross Media Marketing Corporation posts historical and forward-looking information about its business and operations, including financial projections, press releases, a PowerPoint presentation and SEC filings, on its website at www.xmmcor.com. The public is invited to visit the website to learn more about Cross Media Marketing. 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 full year and quarterly 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. on a short-term or long-term basis, 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 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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