GARDEN CITY, N.Y., July 16, 2003 (PRIMEZONE) -- Cross Capital Fund, LLC launched a unique hedge and investment fund for publicly traded companies at the end of last quarter. AAMPRO GROUP, Inc. (OTCBB:AAPO), a leading Employee Leasing, HR Services and Payroll Company, announced today that it has made a six figure investment in the Fund. AAMPRO CEO Stephen Farkas stated, "Cross Capital Fund provides a compelling opportunity for AAMPRO to bolster its balance sheet, achieve our corporate goals and to further enhance shareholder value." Cross Capital Fund, LLC is managed by Cross Capital Management, LLC whose directors have decades of investment management and public company investment banking experience.
About the Fund:
Cross Capital Fund, LLC is a unique hedge and investment fund intended specifically for investments by small and micro-cap publicly traded companies. The Fund's unique and proprietary investment structure is patent-pending. The Fund is designed to provide its investor companies with (1) diversification, (2) balance sheet enhancement, (3) capital gains potential (4) public relations-investor relations and (5) monthly cash distributions. Unlike a traditional hedge fund in which investments are made in cash, investor companies make investments in the Cross Capital Fund by issuing newly issued (restricted) shares of the Investor's own common stock. This allows the investor to purchase an interest in the Fund without expending any cash.
The membership interest in the Fund that Investors will receive, in exchange for their investment, will represent an ownership in the Fund. This membership interest, which represents a pro-rata percentage of the market value of all the securities held by the Fund, will represent an asset which can be carried on the Investors' (public companies') balance sheets. The Fund is audited by the New York City audit firm of Marcum & Kliegman LLP.
About the AAMPRO:
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. Additionally, AAMPRO operates AAMPRO-PAY, a payroll services company and AAMPRO Financial, LLC, a financial advisory and consulting firm.
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.