Diversified Investors sells TNPI subsidiary to American Bank Note for up to $675,000 cash, stock, payout.NEW YORK--(BUSINESS WIRE)--Dec. 24, 1996-- Shifts funds to Internet Marketing grossing $60,000 per month, up from $20,000 in August Diversified Investors Corp. (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. :DVIN DVIN Dobermann Vrienden In Nederland (Dutch: Dobermann Friends in the Netherlands) DVIN Digital Video Input ) announced today that it has sold its Transaction Network Plus Inc. (TNPI TNPI The Network People, Inc. ) subsidiary to American Bank Note Corp. (NYSE NYSE See: New York Stock Exchange :ABN) for up to $675,000 in cash, stock and payout based on future events. The electronic funds transfer See EFT. (application, communications) electronic funds transfer - (EFT, EFTS, - system) Transfer of money initiated through electronic terminal, automated teller machine, computer, telephone, or magnetic tape. subsidiary will be folded into the transaction cards and systems business of American Bank Note, a 200-year old financial services company with annual sales of approximately $300 million. Diversified President Lowell M. Dicke said that the company will now be free to devote its energies and resources to its fast growing Internet Marketing Corp. subsidiary, which is the marketing agent for International Sports Club, an unaffiliated gaming company based in Alajuela, Costa Rica. Dicke noted that revenues to the Diversified subsidiary are now running at about $60,000 per month, up from $20,000 in August when the bookmaking bookmaking Gambling practice of determining odds and receiving and paying off bets on the outcome of sporting events and other competitions. Horse racing is perhaps most closely associated with bookmaking, but boxing, baseball, football, basketball, and other sports have business, legal in Costa Rica, began operations. "We are confident that TNPI, as part of American Bank Note, will thrive in a well established financial services environment. We are also delighted to redeploy our assets into Internet Marketing, which is growing geometrically," said Dicke. -0- Any forward-looking statements in this press release are necessarily subject to risks and uncertainties which may affect the accuracy of such statements. For a full discussion of such risks, please refer to the company's Annual Report for the year ended Nov. 30, 1995 and subsequent filings. CONTACT: Diversified Investors Corp. Lowell M. Dicke, 212/509-5000 or The Cavior Organization Inc. Warren J. Cavior, 212/687-6070 / caviorg@aol.com |
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