ATLANTA, July 26, 2005 (PRIMEZONE) -- Equus Resources, Inc. (Pink Sheets:EQUR) ("Equus") announced today that it has finalized the acquisition, reported last week, of American Career Training Institute, Inc. ("ACTI"), an Atlanta-based financial services and real estate training institute. In addition to ACTI, the acquisition includes three other affiliated financial services companies, a real estate brokerage operation, a property and casualty insurance agency, and a commercial and business finance company. Additional information will be released on these entities later.
Randy Harris, President of Equus, in commenting on the completion of this acquisition, stated: "The speed with which we were able to complete this transaction is a reflection of how well the companies and their respective management teams fit and work together. We plan to use that momentum and synergy to enhance the performance of all of the Equus divisions."
The President of ACTI, Dr. Eric Martin, commented: "We are very excited about joining the Equus family. The resources and energy they will bring to ACTI should expand the capabilities and improve the operating efficiencies of both organizations. We are especially interested in the opportunities for cross pollination between our training organization and the Equus operating units."
About Equus Resources
Equus Resources is a multi-faceted financial services company that offers consumer and commercial clients a broad range of mortgage and insurance products, mainly in the southeastern states. Equus plans to expand its business through internal growth and acquisition and to add new financial products and services as demand warrants. Equus is headquartered in Roswell, Georgia, a suburb of Atlanta. For more information, please visit us at www.equusresources.com and www.teamonemortgage.com or e-mail us at investorinfo@equusresources.com and we will be happy to add you to our electronic mailing list.
Forward-Looking Statements:
Any statements made in this press release which are not historical facts contain certain "forward-looking statements," as such term is defined in the Private Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the Company to which this release pertains. The actual results of the specific items described in this release, and the Company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgment of management of the Company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties, including, without limitation, the Company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, the receipt of revenues, and other factors, many of which are beyond the control of the Company. The Company disclaims any obligation to update information contained in any forward-looking statement.