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Filed by U.S. Technologies Inc.
Pursuant to Rule 425 Under the Securities Act of 1933
And Deemed filed Pursuant to Rule 14a-12 Under the
Securities Exchange Act of 1934
Subject Company: On-Site Sourcing, Inc.
(Commission File No. 0-020947)
U.S. TECHNOLOGIES INC.
FOR IMMEDIATE RELEASE - WEDNESDAY, AUGUST 2, 2000
CONTACT:
U.S. Technologies Inc.
202-466-3100
www.usxx.com
Holly Moskerintz
Communications
[email protected]
Dana Rochelle
Investor Relations
[email protected]
On-Site Sourcing
Karen Vahouny
[email protected]
703-506-1778, #224
U.S. TECHNOLOGIES AND ON-SITE SOURCING SCHEDULE TELECONFERENCE
Washington, D.C. (August 2, 2000) - U.S. Technologies Inc. (NASDAQ BB: USXX) has
announced today that it has scheduled a joint teleconference with On-Site
Sourcing, Inc. (NASDAQ: ONSS) on Thursday, August 3 at 9:00 a.m. EDT as a follow
up to the July 31, 2000 announcement regarding the companies' plan to merge.
Greg Earls, CEO & Chairman of U.S. Technologies, and Christopher J. Weiler, CEO
of On-Site Sourcing, will host the conference call. The call will offer
shareholders of both companies an opportunity to discuss the merger plans with
the CEOs of both U.S. Technologies and On-Site Sourcing as well as to ask them
questions concerning the companies and their plans.
Shareholders, media and the investing community are invited to participate in
the call. Participants are asked to call 1-888-391-0073 to take part in the U.S.
Technologies & On-Site Sourcing Conference Call.
A replay of the conference will be made available for 24 hours starting at 11:00
am EDT on August 3 and ending at 11:00 am EDT on August 4. Dial 1-800-633-8284
and enter 15996887 when prompted for the reservation number to listen to a
replay of the conference.
U.S. Technologies Inc. advises investors as follows:
Any securities to be issued pursuant to the proposed merger described
in this press release will be issued pursuant to applicable provisions
of the Securities Act of 1933. Investors are urged to read the relevant
documents to be filed with the Securities Exchange Commission, which
will contain important information about the transaction. Investors can
obtain any document filed with the commission for free at the
Commission's web site at http://www.sec.gov.
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Also, U.S. Technologies' July 31 press release announcing its agreement in
principle with On-Site shall be deemed to be amended to add the foregoing.
ABOUT U.S. TECHNOLOGIES INC.
U.S. Technologies operates as a developer of Internet enterprises, with an
emphasis on the support of technology-driven start-ups and early stage
business-to-business companies. It has recently been named one of the Top 50
technology companies to watch in the Washington, DC metro area by dbusiness.com.
ABOUT ON-SITE SOURCING
On-Site Sourcing provides digital imaging, document management, litigation
reprographics services, and facilities management throughout the East Coast.
On-Site's clients include law firms, corporations, non-profit organizations,
accounting firms, financial institutions and other organizations. On-Site
currently operated in the New York City, Washington, DC, Atlanta, Philadelphia
and Baltimore markets.
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This release contains "forward looking statements" concerning prospective future
events and results. Such prospective events include acquisitions and
investments, and prospects for such acquisitions and investments. U.S.
Technologies cautions that actual developments and results may differ materially
from its prospective future events. There can be no assurance that the
conditions necessary to completing any prospective event will occur. Additional
investments in the Company or by the Company or an unrelated person in any of
the Company's associated companies provide no assurance that the Company or such
associated company will succeed or that the Company's investments will be
recovered or that the Company or any of its associated companies will be
profitable. The Company's assets and operations, including results of
operations, would be affected materially by either occurrence of any such event
or the failure of any such event to occur, by the extent to which it and its
associated companies continue to have access to financing sources on reasonable
terms in order to pursue its and their business plans, by the success or failure
of the business plans of its associated companies, by economic conditions
generally and particularly in the developing e-commerce market, by competition
and technological changes in its and its associated companies' industries and
businesses, and by the results of its and its associated companies' operations
if and when operating. The Company's assembly and other outsourcing business
activities involve a limited number of facilities serving a limited number of
customers, all of which are subject to material changes outside the Company's
control.
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