HANOVER, Md., June 3, 2005 (PRIMEZONE) -- Humana Trans Services Holding Corporation (OTCBB:HTSC) (http://www.humanaservices.com), announces the sale of the payroll operations of its subsidiary Humana National Program Administrators. HTSC has sold all of its contracts and employees of Humana National Program Administrators to Tri-State Employments Services of New York City. HTSC had previously entered into an agreement with Tri-State to operate the accounts of Humana National Program Administrators, effective January 1, 2005, after management recognized that they were sustaining significant losses from the operations of the subsidiary in Kingston, Pa.
With the sale of these assets to Tri-State's division, R & D Staffing, HTSC will eliminate significant losses, and operating expenses on a go forward basis and enable HTSC to refocus its attention back to their core business of Staffing and Recruitment. HTSC will no longer be in the business of processing payroll and risk management. With the refocused business of HTSC and its staffing and recruitment business in Hanover, Maryland doing well and the ability to enjoy significant growth over the next several months to the next several years. Management feels with the "cleaned-up" balance sheet, significantly reduced operating expenses and the expectations of growth in our staffing unit, HTSC feels this is the first step on the road to recovery. Humana Trans Services is currently on track to exceed $6,000,000 in revenues and regain profitability in FY2005.
Ron Shapps, Chairman of the Board, stated, "Obviously, this is only the first step of many we intend to take to turn the Company around, and we have a re-energized spirit and agenda, and we intend to focus solely on our core business and niche markets to move on the road to recovery and success in short order."
About Humana Trans Services Holding Corporation
Established in 2001, Humana is a fully reporting, publicly traded company listed currently on the over-the-counter (OTC) market under the symbol "HTSC". The company is primarily engaged in employee leasing and recruitment services in five states and maintains its corporate offices in Hanover, Md., with operations in the Northeast and Florida. HTSC currently provides human resource (HR) outsourcing principally to the transportation industry and to leading Fortune 500 companies including Cardinal Health, Penske Logistics and Royal Ahold.
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