DRAPER, Utah, Dec. 17, 2004 (PRIMEZONE) -- Wisdom International Corporation (OTCBB: WSDM) ("Wisdom") announced today that its wholly owned subsidiary, International Reinsurance Ltd., wrote new reinsurance premiums in excess of $200,000 during the first 15 days of December. The new premiums are a result of Wisdom's CFO, Scott Rowan's, recent trip to the United Kingdom.
Mr. Rowan stated, "The results of our trip to the UK are remarkable. Our goal for the trip was to make additional international business contacts and alliances for the coming year. Once there, we were presented with opportunities to write new reinsurance policies which immediately benefit Wisdom International and International Reinsurance. December is a relatively slow month for the industry as a whole; the fact that we were able to secure new business at this time suggests Wisdom International, through International Reinsurance, is making strides in its effort to become a top-tier reinsurance provider in the global marketplace."
About Wisdom International Corporation
Wisdom International Corporation is a diversified holding company. Wisdom's reinsurance activities are conducted through its subsidiary, International Reinsurance Company, Ltd., with offices in Nevis, West Indies, Norwich, England and Dallas, Texas. Wisdom's other business activities are conducted through non-insurance subsidiaries, which include two mining companies, a real estate development company, a livestock company and trucking company.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are "forward-looking statements" are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties or other factors which may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Actual results could differ materially because of factors such as: the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels.
All information in this release is as of the date of this release. The Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.