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EXHIBIT 99.2
FLIGHTSERV.COM CLOSES ACQUISITION OF DM MARKETING, INC.
ATLANTA, GA SEPTEMBER 8, 2000 - flightserv.com (Amex:FSW) today announced that
it has acquired DM Marketing, Inc., a Delaware corporation ("DMM"). The closing
of the DMM acquisition represents the third in a series of strategic
transactions approved by flightserv.com's Board of Directors that will provide
substantial cash infusion, new management leadership and acquisitions of related
businesses to strengthen flightserv's operations and permit continued
development of the company's existing business.
DMM, based in Pensacola, Florida, operates a call center providing
telemarketing, help desk and other services for Internet related companies. DMM
is currently anticipated to generate approximately $1.5 million of revenues and
$300,000 of pre-tax income on an annualized basis. Also, included in the
acquisition is approximately $450,000 in cash assets and less than $25,000 in
debt. Additionally, the availability of the call center operations to provide
back office services for flightserv's operations may result in an estimated
$700,000 in annual cost savings for the Company. DMM was acquired for 8,450,000
shares of the Company's common stock.
"Through the acquisition of DMM, we will be able to internally support our
existing business model and have an operations base to support additional
reservations and phone-based services," commented Todd Bottorff, President of
flightserv.com.
ABOUT FLIGHTSERV.COM
flightserv.com enables passengers to book individual seats on private jets
between selected cities in the United States. Currently, the Company offers
flights between New York's Teterboro Airport (located 7 miles from downtown
Manhattan) and Atlanta's Dekalb-Peachtree Airport (located minutes away from
Atlanta's business district). For more information, please visit
www.flightserv.com.
CONTACTS:
Todd Bottorff, flightserv.com
770-986-9791
[email protected]
Mike Pruitt, DM Marketing, Inc.
704-553-9330
Statements in this news release about anticipated or expected future revenue or
growth or expressions of future goals or objectives are forward-looking
statements within the meaning of Section 21E of the Securities Act of 1934, as
amended. All forward-looking statements in this release are based upon
information available to the Company on the date of this release. Any
forward-looking statements involve risks and uncertainties, including those
risks described in the Company's filings with the Securities and Exchange
Commission, that could cause actual events or results to differ materially from
the events or results described in the forward-looking statements, whether as a
result of new information, future events or otherwise. Readers are cautioned not
to place undue reliance on these forward-looking statements.
