WebSourced Achieves Back-to-Back Record Sales Months, Adding More Than 90 New Customers in January Alone
HILLSIDE, Ill.--Feb. 3, 2004--CGI Holding Corporation (OTCBB: CGIH - News) today announced that its WebSourced subsidiary achieved back-to-back record sales months during December 2003 and January 2004, adding more than 90 new customers in January alone.
Gerard M. Jacobs, the Company`s CEO, stated, "During the past two weeks, we have received many communications regarding the dramatic rise in CGI Holding Corporation`s stock price. When the Company recently extended Pat Martin`s employment agreement as CEO of our WebSourced subsidiary, our press release noted the outstanding growth in WebSourced`s revenues and earnings during the second half of 2003. That outstanding growth included record sales for WebSourced during December 2003. WebSourced has now followed that with another record month of sales during January 2004. Assuming that this sales trend continues, we expect WebSourced`s 2004 revenues to easily exceed $15 million."
Steven "Pat" Martin, the President and Chief Executive Officer of WebSourced, Inc., stated, "The addition of more than 90 new customers during January is a real milestone for WebSourced, and reflects a growing acceptance of our KeywordRanking.com services as the industry leader in search engine marketing. We have responded to this unprecedented demand for our services by hiring 12 additional account executives since December 1. These account executives significantly expand our internal expertise in several of our core competencies, including Service, Marketing Managers and Sales. WebSourced has now grown to include a total of 72 highly skilled and motivated professionals, who are really making their mark nationally."
CGI Holding Corporation, based in Hillside, Illinois, currently has one subsidiary, WebSourced, Inc., Morrisville, North Carolina, a leader in search engine marketing (see www.keywordranking.com).
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: litigation; liquidity problems; historical losses; weak balance sheet; payment obligations; inability to collect monies owed; capital needs; acquisitions financing, terms and conditions; volatile stock price; impending reverse stock split; 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; illiquidity of the Company`s stock; 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 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.
Contact:
CGI Holding Corporation
Gerard M. Jacobs, 708-547-0424
gjacobs@cgiholding.com
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