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MAXSERV ANNOUNCES COMMON STOCK PURCHASE AND LONG TERM SERVICE AGREEMENT WITH SEARS; ANNOUNCES NEW DIRECTORS

 AUSTIN, Texas, May 24 /PRNewswire/ -- MaxServ, Inc., (OTC: MXSV) and Sears, Roebuck and Co. announced today that Sears has purchased 2.9 million shares of newly issued MaxServ common stock and has entered into a long-term service agreement for MaxServ call center and information technology development services.
 The stock purchase has been valued by MaxServ at approximately $4 million. Consideration for the common stock purchase includes $950,000 in cash, a seven year service agreement, the transfer of certain equipment and information materials, and other consideration. MaxServ believes that the long-term service agreement could produce up to $80 million in revenues over its seven year term.
 MaxServ and Sears said the expanded relationship will allow the companies to work closely on selected advances in the management and delivery of repair information support services.
 MaxServ also announced the proposed appointment of two new members to its board of directors, Daniel A. Mihalovich, vice president, Sears Product Services, the Sears national repair business; William L. Salter, vice president for Home Appliances and Electronics, the Sears Brand Central merchandising business; and the recent appointment of Stephen Keane, a consultant and a member of the board of directors for Novadyne Computer Systems, Storage Technology Corporation and Summagraphics, Inc. Other members of the MaxServ board of directors are Charles F. Bayless, president/CEO of MaxServ; James F. Leary and Patrick A. Rivelli, general partners of The Sunwestern Investment Group; Russell Cleveland, general partner of the Renaissance Capital Group; and Nat Turner of Paul & Turner, Inc.
 MaxServ provides call center, information management, information technology development and consulting services to manufacturers, retailers, servicers and consumers. MaxServ specializes in providing fast, courteous and accurate answers to repair and parts inquiries from technicians and consumers on a full range of household products including appliances, entertainment, personal computers, lawn and garden equipment, exercise equipment and heating/air conditioning equipment. MaxServ is headquartered in Austin, Texas, and also has a call center operation in Scottsdale, Ariz.
 Sears Product Services unit is the country's largest repair and service organization, providing parts and service for all major brand home appliances, electronics, and lawn and garden equipment whether sold by Sears or others. Sears has 16,000 repair technicians and a 13,000 vehicle fleet.
 -0- 5/24/93
 /CONTACT: Mike Weinnig, 512-834-8341, for MaxServ; or Marci J. Grossman, 708-286-8316, for Sears/
 (MXSV)


CO: MaxServ, Inc. ST: Texas IN: SU:

LR -- NY051 -- 1655 05/24/93 11:21 EDT
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Publication:PR Newswire
Date:May 24, 1993
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