Willdan Group, Inc. Subsidiary MuniFinancial Expands into Tennessee.MuniFinancial Establishes New Office in Memphis and Assumes Sizeable Arbitrage Rebate Services Clientele ANAHEIM, Calif. & MEMPHIS, Tenn. -- Willdan Group, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :WLDN WLDN Wireless Local Data Network ), a leading provider of outsourced services to public agencies, today announced that its public finance services subsidiary MuniFinancial is expanding into Tennessee through a business agreement with RSM McGladrey RSM McGladrey, Inc. is a tax, accounting and consulting firm in the United States, headquartered in Bloomington, Minnesota. It is the US member firm of RSM International, the 6th largest network of professional service firms in the world. , an accounting, tax and business consulting services provider, and McGladrey & Pullen, a leading national CPA (Computer Press Association, Landing, NJ) An earlier membership organization founded in 1983 that promoted excellence in computer journalism. Its annual awards honored outstanding examples in print, broadcast and electronic media. The CPA disbanded in 2000. firm. Through the agreement, MuniFinancial will service all arbitrage rebate engagements on behalf of the McGladrey companies and the RSM McGladrey Networking firms. MuniFinancial is one of the largest providers of arbitrage rebate services in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Formed in 1988, the firm has completed reports for over 5,000 bond issues representing more than $45 billion of tax-exempt financings. In addition to offering arbitrage rebate services, MuniFinancial provides continuing disclosure reporting on municipal debt as well as utility rate studies, user fee (cost of service) studies, cost allocation plans, development fee studies and formation and administration of special tax districts. "MuniFinancial has been providing arbitrage rebate and continuing disclosure services to issuers of municipal bonds for over 18 years," said Frank G. Tripepi, President and Chief Executive Officer of MuniFinancial. "We take an innovative approach to regulatory compliance that combines cutting-edge technology with solid experience. By assuming McGladrey's nationwide book of arbitrage rebate business, we expect to expand our client base significantly." W. Tracy Lenocker, Interim Chief Executive Officer of Willdan Group, stated, "One of Willdan Group's specified growth objectives this year is to enter attractive new geographic markets organically through strategic hires or opportunistically through selective acquisitions and business agreements. MuniFinancial's relationship with RSM McGladrey and McGladrey & Pullen is a great example of our ability to execute this strategy." Randal Webb, formerly Manager, Public Finance in McGladrey & Pullen's Bartlett, Tennessee Bartlett is a city in Shelby County, Tennessee and a suburb of the Memphis metropolitan area. The population was 40,543 at the 2000 census. History The community from which the City of Bartlett grew was first called Union Depot. office, has joined the Federal Compliance Division of MuniFinancial and will serve clients from MuniFinancial's new office in Memphis, Tennessee For the ancient Egyptian capital, see . Memphis is a city in the southwest corner of Tennessee, and the county seat of Shelby County. Memphis rises above the Mississippi River on the 4th Chickasaw Bluff just below the mouth of the Wolf River. . MuniFinancial operates a network of offices with locations in California, Arizona, Washington, Florida, and now Tennessee. The Memphis office is located at 618 Oakleaf Office Lane, Suite 300, Memphis, Tennessee, 38117. Telephone (901) 251-1922; fax (888) 326-6864. About Willdan Group, Inc. Founded over 40 years ago, Willdan Group, Inc. is a leading provider of outsourced services to public agencies located primarily in California and other western states. Willdan Group, Inc. assists cities and other government agencies with a broad range of services, including civil engineering, building and safety services, geotechnical engineering Geotechnical engineering is the branch of civil engineering concerned with the engineering behavior of earth materials. Geotechnical engineering includes investigating existing subsurface conditions and materials; assessing risks posed by site conditions; designing earthworks and , financial and economic consulting, and disaster preparedness and homeland security Noun 1. Homeland Security - the federal department that administers all matters relating to homeland security Department of Homeland Security executive department - a federal department in the executive branch of the government of the United States . www.willdangroup.com MuniFinancial offers financial and economic services to public agencies, serving as an extension of their clients' staff. MuniFinancial has one of the largest special district formation and administration practices in the nation. MuniFinancial also is a major provider of arbitrage rebate services and a well-known municipal disclosure firm. Clients include more than 600 cities, counties, state agencies, port authorities port authorities npl → autoridades fpl portuarias , housing agencies, special districts and school districts in 38 states. www.muni muni See municipal bond. .com Forward-Looking Statements 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. Statement: Statements in this press release which are not purely historical, including statements regarding Willdan Group's intentions, hopes, beliefs, expectations, representations, projections, estimates, plans or predictions of the future 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. The forward-looking statements involve risks and uncertainties including, but not limited to, the risk that the Company will not be able to expand its services or meet the needs of customers in markets in which it operates. It is important to note that the Company's actual results could differ materially from those in any such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, a slowdown in the local and regional economies of California, Florida or Washington, and the loss of or inability to hire additional qualified professionals. The Company's business could be affected by a number of other factors, including the risk factors listed from time to time in the Company's SEC reports including, but not limited to, the Registration Statement on Form S-1/A filed with the Securities and Exchange Commission on November 3, 2006. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. Willdan Group, Inc. disclaims any obligation, and does not undertake to update or revise any forward-looking statements in this press release. |
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