DEERFIELD, Ill.--Aug. 13, 2004--CGI Holding Corporation (OTCBB:CGIH - News) today announced that its WebSourced subsidiary achieved record new sales and revenues for the first six weeks of the third quarter. Additionally, WebSourced`s recent expansion in to Pay-Per-Click management has achieved 30% month-on-month growth with more than $300,000 of monthly spending now under management.
Gerard M. Jacobs, the Company`s CEO, stated, "During the past few weeks, I have received many communications regarding the volatility in CGI Holding Corporation`s stock price. I am unaware of any negative news regarding our stock and in fact since last quarter we have seen record growth. WebSourced has benefited from the continued interest in search engine marketing and with JupiterResearch predicting paid search spending to increase from $2.6 billion in 2004 to $5.5 billion by 2009, we are uniquely positioned to benefit from the intense interest in our Pay-Per-Click management services. The Google IPO and increased media coverage of the search engine industry are all contributing to the demand for our services."
Steven "Pat" Martin, the President and CEO of WebSourced, Inc., stated, "Historically our third quarter has seen increased revenues, as business owners commence search engine marketing campaigns in preparation for the holiday season. In addition to the record new sales, we are also pleased with the percentage of companies renewing their contracts, including NBC, Lowes Home Improvement and eDiets.com. Our Pay-Per-Click management services have exceeded even our expectations and continue to grow at a phenomenal rate." Martin added, "Recent coverage by Dow Jones, The Washington Post and CNBC, together with awards from MarketingSherpa, solidify our position as the leader in the industry."
CGI Holding Corporation, based in Deerfield, Illinois, currently has one subsidiary, WebSourced, Inc., Morrisville, North Carolina, a leader in search engine marketing (see www.keywordranking.com) which assists companies in marketing and advertising on Google, Yahoo and other search engines.
Statements made in this press release that express the Company`s or management`s intentions, plans, beliefs, expectations or predictions of future events, are forward-looking statements. The words "believe", "expect", "intend", "estimate", "anticipate", "will" and similar expressions are intended to further identify such forward-looking statements, although not all forward-looking statements contain these identifying words. Those statements are based on many assumptions and are subject to many known and unknown risks, uncertainties and other factors that could cause the Company`s actual activities, results or performance to differ materially from those anticipated or projected in such forward-looking statements. Other factors that could cause the Company`s actual activities, results or performance to differ materially include risks and uncertainties relating to: existing and potential litigation; historical losses; likely inability to collect all monies owed to us; acquisitions financing, terms, conditions, and ability to close; volatile stock price; integration of acquired businesses; managing growth; availability of skilled labor and key personnel; weak general economic and business conditions; competition; lack of long-term contracts; lack of brand awareness; client expectations; dependence upon the internet as a means for commerce; governmental regulation or taxation; inability to protect intellectual property; insider control; no dividends; Nevada laws that could discourage transactions involving the Company`s stock; and other factors and risks discussed in the Company`s filings with the Securities and Exchange Commission. The Company cannot guarantee future financial results, levels of activity, performance or achievements and investors should not place undue reliance on the Company`s forward-looking statements. The forward-looking statements contained herein represent the judgment of the Company as of the date of this press release, and the Company expressly disclaims any intent, obligation or undertaking to update or revise such forward-looking statements to reflect any change in the Company`s expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.
CGI Holding Corporation
Gerard M. Jacobs, 847-282-5005