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EXHIBIT 99
[KUPPER PARKER COMMUNICATIONS INC. LOGO]
NEWS RELEASE
KUPPER PARKER COMMUNICATIONS COMPLETES ACQUISITION
OF GREENSTONE/ROBERTS ADVERTISING
KPC Becomes Public Company Poised for Domestic and International Growth
ST. LOUIS, October 2, 2000 - Kupper Parker Communications, Inc. (KPC), an
integrated marketing communications agency, completed on September 29, 2000, the
reverse acquisition of New York-based Greenstone/Roberts Advertising Inc.
(OTCBB:GRRI). The company's common stock continues trading on the
over-the-counter bulletin board under the current symbol, pending application
for a new symbol.
Headquartered in St. Louis, Mo., and now with an office in Melville,
N.Y., on Long Island, KPC has offices in eight U.S. cities. Through these
offices and affiliations in the United Kingdom, Germany and Italy, KPC offers a
full range of advertising, public relations, Internet, promotion, direct
marketing and media services to clients in the U. S. and internationally.
Bruce D. Kupper is president and chief executive officer of KPC. Ronald
M. Greenstone and Gary C. Roberts will be chief executive officer and president,
respectively, of the Long Island operations, and both will serve on the board of
directors of KPC.
KPC's four-part strategy for revenue and earnings growth includes
organic growth, acquisitions, affiliations, and economies of scale.
"This acquisition is a key part of our future growth strategy because
of the strength of the Long Island market and because it provides us with a
publicly traded stock to use as currency for our acquisition strategy," said
Kupper. "Our clients will benefit from access to even greater strategic and
creative fire-power, greater geographic reach and the increased diversity of our
business mix."
Through KPC's growth strategy, the company has increased revenues at a
23 percent compound annual growth rate from 1994 through 1999. Moving forward,
the company has established a strategy for building revenues from a pro forma
combined 1999 level of $14.7 million to more than $50 million anticipated by
year-end 2004.
The fundamental assumptions are to increase revenues organically at
least as fast as industry growth rates; to add revenues of $8 million to $12
million annually through strategic acquisitions; and to improve efficiency each
year in order to achieve a targeted operating margin of 11 percent to 12 percent
by 2004.
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KPC Completes Acquisition of Greenstone/Roberts - Add One
Organic Growth
"We believe we have a revenue-building program to outpace the industry
overall because of our diverse business mix and our ability to offer clients the
full range of communications services including fast-growing areas such as
consumer branding and public relations," Kupper said. "We have a team of highly
motivated, entrepreneurial practitioners who can further leverage KPC's services
within our geographic markets and industry niches."
KPC differentiates itself from larger agencies by establishing direct
contact between clients and senior practitioners in 10 different communications
specialties under one brand. KPC is differentiated from smaller regional firms
by delivering national-caliber business-to-business, corporate and strategic
communications to middle market and Fortune 500 companies.
Acquisitions
Through acquisitions, KPC will continue to reach into new markets and
add critical mass in its existing cities. "We've proven that we can successfully
align the interests of strong local management and offer communications
entrepreneurs the opportunity to grow faster by shedding administrative burdens,
focusing on client service armed with a broader array of communications
specialties, and exposing their staff to bigger assignments," Kupper said.
KPC's geographic focus is on U.S. cities with solid economies or
industry concentrations, and countries with stable economies, similar cultures
and healthy projected increases in marketing communications expenditures. "Our
reorganization as a public company opens new doors for growth through
acquisition here and internationally."
To serve clients in markets that don't meet KPC's expansion criteria,
the company will pursue a healthy network of affiliations with preferred
agencies that will properly service KPC clients and through which KPC will
benefit through coordination fees.
Economies of Scale
KPC expects to continue consolidating accounting, human resources and
technology management, purchasing and other administrative functions at its St.
Louis headquarters in order to standardize practices and achieve targeted
operating and efficiency ratios through economies of scale.
KPC is a regional marketing communications company which delivers the
full range of services, including marketing consultation, market research,
branding, advertising and media buying, public relations and investor relations,
graphic design, digital interactive, direct response and database marketing, and
sales promotion. KPC's clients are in a broad range of industries and include
business-to-consumer, business-to-business, and business-to-stakeholder clients.
KPC also provides specialized marketing consultation to television and radio
stations.
KPC's combined pro forma revenues in 1999 were $14.7 million. Combined
U.S. gross income of $26.8 million places KPC in the top 100 agency brands in
the U.S. according to Advertising Age. Based on public relations income, PRWeek
ranks KPC among the nation's top 100 public relations firms, and among the top
50 healthcare public relations firms.
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KPC Completes Acquisition of Greenstone/Roberts - Add Two
This news release contains forward-looking statements within the
meaning of the Securities Act of 1933 and Securities Exchange Act of 1934.
Forward-looking statements include information concerning possible or assumed
future results of operations and other statements and information regarding
assumptions about the company's future economic performance and growth and
management's goals and objectives. These forward-looking statements are subject
to a number of risks and uncertainties that could cause actual results to differ
materially from those expressed or implied. Investors should not view these
forward-looking statements as guarantees of future performance. The risks and
uncertainties that could cause actual results to differ materially are detailed
in the company's filings with the Securities and Exchange Commission. KPC is not
under any obligation, and expressly disclaims any obligation, to update or alter
its forward-looking statements, whether as a result of new information, future
events or otherwise.
For Further Information:
Mary Scholz Barber, 314-290-2013; [email protected]
www.kupperparker.com
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[KUPPER PARKER COMMUNICATIONS INC. LOGO]
TRANSACTION OVERVIEW
Kupper Parker Communications' Acquisition of Greenstone/Roberts Advertising
DIRECTORS AND EXECUTIVE OFFICERS
Bruce D. Kupper, president and chief executive officer
Mary De Hahn, director, chief operating officer
John J. Rezich, director, chief financial officer
Ronald M. Greenstone, director and chief executive officer of the Long Island
operations
Gary C. Roberts, director and president of the Long Island operations
DIRECTORS
S. Lee Kling, chairman of Kling Rechter & Co.
James A. Saitz, chairman and chief executive officer of Trustcorp Financial
TRANSACTION
- The $2,156,000 consideration paid is comprised of $1,350,000 in cash
and approximately 10.9% of KPC assets valued at approximately $806,000.
- 300,000 shares will be purchased from GRRI shareholders on the open
market at $4.50 per share.
- KPC stockholders received 5,450 shares of the new common stock for each
share of KPC common stock they owned.
- Valuation of the combined entity is more than $14 million, based on the
total of 5,674,000 common shares issued and outstanding multiplied by
the closing price of [$2.25] on September 29, 2000.
OTHER INFORMATION
- KPC employs a total of 165 people, including 105 in the St. Louis
office, and has a total staff of over 245 through its subsidiaries and
affiliates.
- Kupper Parker Communications, Inc. is a New York corporation
headquartered in St. Louis.
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Tabasco
Watlow
