COLORADO SPRINGS, Colo., August 20, 2003 (PRIMEZONE) -- Maximum Dynamics, Inc. (OTCBB:MXDY), a financial services company supporting the financial community with back office fund administration and client side support, announced today that it has formed a strategic partnership with RHT Management Services CC (RHT), a South African accounting firm.
In the agreement, the two companies will jointly ramp up business development efforts, share resources and split revenues. The partnership with RHT is effective September 1, 2003 when Maximum will begin training RHT's staff on the Datalus software. The partnership is expected to triple Maximum's capacity for servicing customers while preserving cash expenses to perform the services.
Maximum was involved in discussions for several months with Unilogic Solutions, Ltd. (Unilogic), RHT and another South African firm regarding a joint venture. When Maximum decided to acquire Unilogic as a subsidiary, discussions with RHT turned towards the formation of a strategic partnership.
The partnership will allow Maximum to build up its infrastructure in accounting services as it builds out its fund administration business. "When funding that we believed would arrive fell through, we turned to other strategies to build out our infrastructure," said Eric Majors, CEO and President of Maximum Dynamics. "We are thrilled that RHT has agreed to partner with us. They have a solid reputation, highly experienced staff that has worked with funds, and the desire to team with us in aggressively building our business."
With its expansion to Cape Town, South Africa, Maximum has been able to set up cost-effective operations while still offering top tier services. "The restructuring of the joint venture to an acquisition of Unilogic and the formation of a strategic partnership with RHT was absolutely the best outcome for us," said Joshua Wolcott, CFO of Maximum Dynamics. "It allows us to have Unilogic capitalize on markets we could not address and still bring in RHT for the accounting component we were missing. This partnership should serve as a catalyst to our growth and help to catch up to our quarterly objectives that we had to push back several months ago."
Majors added, "The stamp of validation for us was how committed these groups are to working with us. We were not sure how RHT and the other company would respond when we announced we wanted to acquire Unilogic, but both companies became even more excited. In fact, it has led to deeper discussions with the third company about what our relationship should be. I believe something special is materializing here and I think that speaks volumes about it."
About Maximum Dynamics, Inc.
Maximum Dynamics offers fund administration services using its flagship software Datalus, a web-based software solution, for the asset management industry. By using the company's service, asset managers can now have access to a cost effective way to manage and administer their funds while maintaining the security and independence usually associated with large institutions. Management believes that its services offers fund managers and investment advisers lower overhead, automated computation and payment delivery systems, transaction tracking and security/control.
For more information, visit the company's website: http://www.maximumdynamics.com.
About RHT Management Services CC
RHT Management Services is a consulting practice specializing in the accounting, tax and business consultancy arenas. While RHT engages clients that are in need of its services, the firm's primary emphasis is on the Small to Medium enterprise (SME). The Company is headquartered in Cape Town, South Africa.
For more information, visit the company's website: http://www.rhtselect.com.
This press release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. Maximum Dynamics assumes no obligation to update the information contained in this press release. Maximum Dynamics' future results may be affected by its ability to continue to implement its hedge fund administration services, its dependence on procuring highly competitive hedge fund administration contracts, its dependence on hiring and retaining qualified professionals, potential fluctuations in its quarterly operating results, its dependence on certain key employees and its ability to timely and effectively integrate the businesses it may acquire.