Definition, Ltd. PEO Division Driven by Proven Executive.Business Editors/High Tech Writers PALM SPRINGS, Calif.--(BUSINESS WIRE)--April 20, 2000 Definition, Ltd. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: DFNL) announces the appointment of Mr. Russell Ferry as President of the newly developed Professional Employment Organization (PEO) division of Definition, Ltd. Mr. Ferry is a proven executive in the PEO industry and will lead the division by overseeing the operations of the recently acquired Interstate in·ter·state adj. Involving, existing between, or connecting two or more states. n. One of a system of highways extending between the major cities of the 48 contiguous United States. Noun 1. Management Services (IMSC IMSC Integrated Media Systems Center (University of Southern California) IMSC Information Management Steering Committee IMSC International Mobile Satellite Conference IMSC Interworking Mobile Switching Center ), a $22 million PEO Corporation. In addition, Mr. Ferry will transition all newly acquired companies into the PEO corporate division of Definition, Ltd. "Mr. Ferry's proven experience and prior successes in the PEO Management field provides Definition, Ltd. the competitive edge for our success in the newly defined endeavor. Mr. Ferry's credentials CREDENTIALS, international law. The instruments which authorize and establish a public minister in his character with the state or prince to whom they are addressed. If the state or prince receive the minister, he can be received only in the quality attributed to him in his credentials. are probably matched by few and surpassed by none." stated Donna Anderson Anderson, river, Canada Anderson, river, c.465 mi (750 km) long, rising in several lakes in N central Northwest Territories, Canada. It meanders north and west before receiving the Carnwath River and flowing north to Liverpool Bay, an arm of the Arctic , President 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. of Definition, Ltd. Russell Ferry successfully pioneered the entrance of a Texas Leasing Firm in the California PEO Market by establishing 80 clients and $15 million in gross revenues within the first year of operations between 1991 and 1993. Mr. Ferry later founded and served as Chairman and Chief Executive Officer of two California PEO's that served over 650 clients in four states with $60 million in combined gross revenues. As Chairman, Mr. Ferry was also instrumental in Workers Compensation reform legislation within a collectively bargained unit in a leading Construction PEO. Similar legislation was later enacted in the State of Minnesota. About the PEO Industry Professional Employment Organizations retain contracts with small to mid-size businesses offering a combination of services including; payroll, unemployment insurance, workman's compensation, group medical and dental insurance Dental insurance is insurance designed to pay the costs associated with dental care. Dental insurance pays a portion of the bills from dentists, hospitals, and other providers of dental services. . Small to mid size business with PEO representation are afforded the benefits offered to larger business specifically in the medical, dental and group health insurance industry. About Definition, Ltd. Definition, Ltd. is an active acquisition company recently directed in the Professional Employment Services Industry. The Company intends to focus its management and operations on acquisitioning and consolidating the $24 billion PEO industry with projections to $185 billion in ten years and respective operations of each acquired PEO. Estimated revenues from completed acquisitions currently under negotiations would generate an additional $100 million in sales to Definition, Ltd. by the end of 4th quarter for FY 2000. Each acquisition will be announced when negotiations are completed. Statements contained in this news release, which is not historical facts, are 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. as that are defined in 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. Such forward-looking statements are subject to risks and uncertainties which could cause results to differ materially from those projected. |
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