WHITEHOUSE, N.J., Feb. 27, 2003 (PRIMEZONE) -- AAMPRO GROUP, Inc. (OTCBB:AAPO) announced today that it entered into a Joint Venture with Stratus Business Solutions, LLC ("Stratus") to market its PEO in the New York market. Stratus, a New York-based company, is principally engaged in marketing business services to small and medium sized companies. The New York market is a multi-billion market and this joint venture is looking to target 1% of this market. CEO Farkas commented, "This joint venture marketing alliance will enable the company to market its services to a key market without incurring additional operating expenses. This alliance is a key element to our multi-channel marketing campaign." AAMPRO's contribution in this joint venture shall be limited to existing technology and infrastructure and shall not be responsible for the operational or marketing budget for this new venture.
AAMPRO congratulates its CEO Stephen Farkas upon being chosen as New Jersey Business Man of the Year for 2003 by the National Republican Congressional Committee. The award will be conferred in Washington, D.C. on March 18, 2003. In 2002, Mr. Farkas was selected to serve the State of New Jersey on the new Presidential Business Commission. Furthermore, Mr. Farkas is an Honorary Chairman of the Republican Party's Business Advisory Council.
About the Company:
The Company, through its subsidiary AAMPRO, Inc. ("AAMPRO"), primarily conducts its business operations as a professional employer organization ("PEO"). AAMPRO provides a broad range of services comprised primarily of employee leasing and human resources management. These services include payroll and benefits administration, health and workers' compensation insurance programs, state and federal labor compliance, tax filings, safety program design and management and other related services to small and medium-sized businesses nationally with a primary concentration in the tri-state (New York/New Jersey/Pennsylvania) region. AAMPRO was organized as a corporation in 1995 and has provided PEO services since inception.
AAMPRO's services are designed to improve the productivity and profitability of small and medium-sized businesses by relieving business owners and key executives of many employer-related administrative and regulatory burdens that enable them to focus on the core competencies of their businesses.
Forward-Looking Statements
This news release contains forward-looking statements about our business, or financial condition and prospects that reflect our assumptions and beliefs based on information currently available. We can give no assurance that the expectations indicated by such forward-looking statements will be realized. There may be other risks and circumstances that we are unable to predict. When used in this news release, words such as "believes," "expects," "intends," "plans," "anticipates," "estimates" and similar expressions are intended to identify forward-looking statements, although there may be certain forward-looking statements not accompanied by such expressions. All forward-looking statements are intended to be covered by the safe harbor created by Section 21E of the Securities Exchange Act of 1934.