PETER HALMOS, A LEADING MARKETER OF SERVICES TO CREDIT CARD HOLDERS, FOUNDS NEW COMPANY, PRIVACY PROTECTION SERVICES, INC.
-- New Company Establishes a Strategic Relationship with CreditLine Corporation, a leading provider of consumer credit reports -- NEW YORK, April 30 /PRNewswire/ -- Peter Halmos, a pioneer and leading industry executive in the marketing of services to both holders of credit cards and credit card companies, today announced he has formed a new company, Privacy Protection Services, Inc., which will aim to be a major competitor in this growing market. Mr. Halmos is the founder and former chairman of SafeCard Services, Inc. (NYSE: SSI) which he grew into one of the largest companies in the business. With respect to Privacy Protection Services, Mr. Halmos stated, "The marketplace for consumer credit card holders and, in turn, services for the holder is growing substantially. Key to long-term success in the services segment is for companies to be focused on new product development; to be able to bring these new products successfully to market; and to be in tune with the customer's needs. An important competitive strength of Privacy Protection is its ability to move quickly to create and capture consumer demand. "Privacy Protection has a number of novel products underway for marketing. In addition, Privacy has developed a relationship with CreditLine Corporation, which sells credit report advisory and related services," he said. Mr. Halmos pointed out that, while CreditLine does have an agreement with SafeCard to market certain report services through SafeCard to credit card holders, the arrangement with Privacy Protection will not involve SafeCard. In addition, outside of any restrictions in the agreement between SafeCard and CreditLine, Mr. Halmos, through Privacy Protection, will compete with SafeCard. CreditLine is wholly owned by Mr. Halmos and the Halmos family. "Strategic relationships such as Privacy's with CreditLine will help maximize Privacy's ability to achieve marketing success very quickly. Given customer demand and industry conditions, I am very excited about the prospects for Privacy Protection," Mr. Halmos concluded. -0- 4/30/93 /CONTACT: Robert Siegfried of Kekst and Company, 212-593-2655, for Privacy Protection Services/ (SSI)
CO: Privacy Protection Services ST: New York IN: FIN SU:
TM -- NY101 -- 3488 04/30/93 19:40 EDT
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|Date:||Apr 30, 1993|
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