DENVER, Sept. 19, 2005 (PRIMEZONE) -- Chelsea Management Group Inc. (Other OTC:CLMP) announced today that the company is hiring corporate officers to lead the operations division responsible for the management and development of its subsidiary group of companies. Chelsea Management Group Inc. has been actively recruiting corporate officers since the first quarter who demonstrate the entrepreneurial spirit required to develop its non-life sciences divisions. The caliber of the corporate officers Chelsea has been courting, share common goals and are veterans of increasing shareholder value. Their mission is to lead the subsidiary division into the future with the resources and knowledge needed to affect sustainable growth.
Peter Johansen, CEO of Chelsea commented, "I have been working on the developing the subsidiary division as a group of independent operating companies. As the driving force behind Chelsea, I have taken my time to recruit a set of corporate officers that share my vision. I am very pleased to say we are within a week of signing the corporate officers' contracts."
Background information on the corporate officers will be posted as each of them formally joins our organization.
About Chelsea Management Group Inc.
CHELSEA MANAGEMENT GROUP is a start-up and early-stage venture capital firm focused on the health and life sciences industry. Formed in 2002, CHELSEA searches for the winners of tomorrow -- entrepreneurs whose ideas and talents qualify them to pursue large market opportunities successfully. We seek opportunities across a broad spectrum including biotechnology and pharmaceuticals, medical devices, services and healthcare/life sciences information technology. On a selective basis, we also consider later-stage health and life sciences investments where we can uniquely apply Chelsea's industry and capital markets experience.
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