FINANCIAL NEWS, EARNINGS RELEASES
PRESS RELEASE For Immediate Release
Date: November 3, 1998
Contacts: James Peoples, 201-712-0090
Concourse Corporation Announces Completion of Merger with Peoples Publishing
MAYWOOD, NJ, NOVEMBER 3, 1998 – Effective November 1, 1998, the previously announced merger of The Peoples Publishing Group, Inc. into a wholly-owned subsidiary of Concourse Corporation was completed. Peoples Publishing is a publisher of supplementary educational materials for the K-12 school market and Concourse is a publisher and training provider to the corporate market.
Coincident with the merger, Mr. James J. Peoples and Ms. Diane Miller, were elected to the positions of President & CEO and Executive Vice President, respectively, of Concourse. Each of the five members of the board of directors of Peoples Publishing, including Mr. Peoples and Ms. Miller, were also elected to the Board of Concourse. The headquarters of Concourse, a Minnesota corporation, will be relocated to be combined with the current operations of Peoples Publishing in Maywood, NJ.
Further details of the merger and financial information for the Company will be provided in a Form 8K filing which is pending.
For further information, please contact: Jim Peoples, President & CEO, 201-712-0090