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SERVICE AGREEMENT REACHED BETWEEN PREMIER MALDONADO & ASSOC. AND BOZELL-CPV

 SERVICE AGREEMENT REACHED BETWEEN PREMIER MALDONADO & ASSOC.
 AND BOZELL-CPV
 MIAMI, June 24 /PRNewswire/ -- Bozell Worldwide and Premier Maldonado & Associates have signed an agreement for the latter to service Bozell's accounts in the Puerto Rico market, effective July 1, 1992.
 "This is not a merger or an acquisition by either party. It is strictly a contract/service arrangement, whereby P.M.&A. will provide all agency services for Bozell's clients" informed Franco Sotomayor, president of Premier Maldonado & Associates Group Holdings.
 Chrysler Motors has already agreed to this change and Bozell's other clients have being contacted also. All of Bozell's employees will be considered for possible employment by P.M.&A. to ensure a smooth transition for all accounts involved. "Some of these employees could also be assigned to work with other P.M.&A. accounts, so as to ensure full integration to the P.M.&A. team" expressed Roberto Ortiz, recently named president of P.M.&A.'s Puerto Rico office.
 "We intensely analyzed all possible options to continue providing "first class" service to our major multi-national clients in the Puerto Rico market and this arrangement with P.M.&A. will unquestionably do so. They are a strong, sophisticated agency with a real depth of services" stated Andy Allen, executive vice president, regional director Latin America for Bozell Worldwide.
 "Bozell and P.M.&A. had been exploring this type of arrangement for some time and this was the right time to do it" added Ramesh Rajan, senior vice president, Finance at Bozell New York.
 Bozell Worldwide is a multinational advertising agency with 1.9 billion dollars in gross billings and offices in 46 countries around the world. P.M.&A. is a 100 percent local capital, Puerto Rico headquartered agency, with offices in the Dominican Republic and Miami. From the latter office they handle major accounts in the U.S. Hispanic market such as American Airlines, Walgreens Drugstores, etc. and oversee an affiliates network spanning Mexico, Central and South America.
 "A servicing contract agreement of this type is a growing trend in the advertising industry since it provides both parties independence, flexibility and the best possible resources in each market, without the burdens of costly acquisitions," added Sotomayor, president of P.M.&A. Group Holdings.
 -0- 6/24/92
 /CONTACT: Franco Sotomayor, Cristina Fernandez or Tommy Kierce of PLUS Public Relations, 305-267-7737, for Premier Maldonado & Associates/ CO: Premier Maldonado & Associates, Bozell Worldwide ST: IN: ADV SU:


SS-JB -- FL012 -- 3503 06/24/92 17:50 EDT
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Publication:PR Newswire
Date:Jun 24, 1992
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