SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report August 2, 1999
(Date of earliest event reported) (August 2, 1999)
USCI, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-22282 13-3702647
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
6115-A Jimmy Carter Blvd., Norcross, Georgia 30071
(Address of principal executive offices) (Zip Code)
(770) 840-8888
(Registrant's telephone number including area code)
(Former name or former address if changed since last report)
<PAGE>
Item 5.
On August 2, 1999, the Registrant issued the following press
release:
"USCI, Inc. Announces Election of Lee Feist as President and Chief
Executive Officer
NORCROSS, GA--August 2, 1999--USCI, Inc. (OTC BB: USCM - news) today
announced the election of Lee Feist as President and Chief Executive
Officer of the Company.
Mr. Feist brings to USCI years of proven experience and expertise in
restructuring companies and moving them into the global marketplace.
From 1991 to 1999, Mr. Feist served as Chief Executive Officer of
Lifesavers International, an organization specializing in providing
senior management for start-up companies. In this position, Mr.
Feist served as CEO of several companies, including High Technology
Textiles, where he successfully established marketing, sales and
distribution organizations in ten countries, and made the Company
profitable within six months from the date of start-up. As CEO of At
Work Entertainment, Mr. Fiest created a mass-market entertainment
company, making it profitable during its first year, as well as
producing the fastest growing label in the United States during its
second year.
From 1981 to 1990 Mr. Feist served as President of Remington
Products, an international consumer products manufacturer, marketer
and retailer. During his tenure as President, the Company increased
sales from $40 million to $400 million, converted losses into
profits in excess of $30 million annually and increased its United
States market share from 17% to 43%. While establishing Remington as
a global brand with distribution in 48 countries, Mr. Feist started
and built a highly successful direct marketing business as well as
an international specialty retail and factory outlet store chains.
``USCI as the ultimate niche marketer offers enormous potential,
both for customers and our stockholders,'' said Lee Feist, USCI's
new President and CEO. ``I look forward to leveraging the Company's
solid technology base in communications services to build USCI into
a dominant position within its industry. As this is being
accomplished, the Company will be moving aggressively into related
industries.''
In addition, the Board of Directors increased the size of USCI's
board to four, as it appointed Mr. Feist to the board.
USCI, Inc., through its wholly-owned subsidiary, is a non-facilities
based carrier of wireless services. Its Ameritel subsidiary provides
wireless coverage and billing to consumers for analog and digital
cellular service, debit cellular service and paging service. The
Company is now focusing on the introduction of prepaid cellular
services that will target direct response marketing, specialized
channels of distribution and the previously announced e-commerce
site that will be deployed in the near future.
<PAGE>
Safe Harbor Statement:
In addition to historical information, this release contains
forward-looking statements made in good faith by the Company
pursuant to the ``safe harbor'' provisions of the Private Securities
Litigation Reform Act of 1995, including, but not limited to, those
statements regarding the Company's business plans. Although the
Company believes that the expectations reflected in such forward-
looking statements are reasonable, it can give no assurance that
such expectations will prove to be correct. Readers are cautioned
not to place undue reliance on these forward-looking statements as
they are based on the Company's current expectations and are subject
to a number of risks, uncertainties and assumptions relating to the
Company's business and results of operations, competitive factors,
shifts in market demand and other risks and uncertainties,
including, in addition to those outlined in Exhibit 99.1 to the
Company's latest Quarterly Report, uncertainties with respect to
changes or developments in social, business, economic, industry,
market, legal and regulatory circumstances and conditions and
actions taken or omitted to be taken by third parties, including the
Company's customers, suppliers, competitors and stockholders and
legislative, regulatory, judicial and other governmental
authorities. The Company undertakes no obligation to revise these
forward-looking statements to reflect events or circumstances that
arise after the date hereof.
- ----------------------------------------------------------
Contact:
USCI, Inc., NORCROSS
Lee Feist, 770/840-8888
or
Robert Kostrinsky, 770/840-8888"
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
USCI, Inc.
(Registrant)
By: /s/ Robert J. Kostrinsky
Robert J. Kostrinsky
Executive Vice President
August 2, 1999
