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PFSweb, Inc. (Nasdaq: PFSW), a global provider of
integrated business process outsourcing (BPO) solutions, announced
today the Company's Special Meeting of Stockholders was adjourned and
the vote postponed until Tuesday, January 24, 2006 to provide PFSweb
shareholders additional time to submit their proxies. PFSweb
management urges all shareholders of record to please vote their
shares.
Shareholders that have submitted their proxies to date have voted
overwhelmingly "for" all of the proposals, which would approve the
issuance of PFSweb common stock pursuant to the company's definitive
merger agreement with eCOST.com (Nasdaq: ECST), leading online
discount retailer.
Non-objecting beneficial shareholders (NOBO) of PFSweb as of
December 21, 2005 who have not voted should contact Mellon Investor
Services at 1-800-814-0304 to cast their vote directly. In addition,
shareholders of record as of December 21, 2005 who have not received
or cannot locate their proxy should call Tom Madden, CFO of PFSweb, at
972-881-2900 x6450. Valid proxies submitted by PFSweb shareholders
prior to the January 23, 2006 meeting will continue to be valid for
purposes of the reconvened meeting to be held January 24, 2006.
Shareholders for eCOST.com approved the definitive merger
agreement with PFSweb at a separate Special Meetings of Stockholders
held today, January 23, 2006.
About PFSweb, Inc.
PFSweb develops and deploys integrated business infrastructure
solutions and fulfillment services for Fortune 1000, Global 2000 and
brand name companies, including third party logistics, call center
support and e-commerce services. The company serves a multitude of
industries and company types, including such clients as Adaptec
(Nasdaq:ADPT), CHiA'SSO, FLAVIA(R) Beverage Systems, Hewlett-Packard
(NYSE:HPQ), International Business Machines (NYSE:IBM), Nokia
(NYSE:NOK), Pfizer, Inc. (NYSE:PFE), Raytheon Aircraft Company, Rene
Furterer USA, Roots, Inc., Smithsonian Institution and Xerox
(NYSE:XRX).
To find out more about PFSweb, Inc. (NASDAQ: PFSW), visit our
website at www.pfsweb.com.
The matters discussed during the interview and, in particular,
information regarding the merger, consist of forward-looking
information under the Private Securities Litigation Reform Act of 1995
and is subject to and involve risks and uncertainties, which could
cause actual results to differ materially from the forward-looking
information. PFSweb has recently filed a Registration Statement on
Form S-4 which identifies certain factors that could cause actual
results to differ materially from those projected in any forward
looking statements made and investors are advised to review the
Registration Statement and the Risk Factors described therein. Neither
PFSweb nor eCOST undertakes any obligation to update publicly any
forward-looking statement for any reason, even if new information
becomes available or other events occur in the future. There may be
additional risks that we do not currently view as material or that are
not presently known.
ADDITIONAL INFORMATION
The S-4 Registration Statement filed by PFSweb contains a joint
proxy statement for the PFSweb and eCOST stockholder meetings and a
prospectus for the PFSweb common stock to be offered to eCOST's
shareholders in connection with the Merger. Investors and shareholders
are urged to read the registration statement carefully because it
includes various risk factors and other important information about
the Merger. Stockholders may obtain a free-of-charge copy of the
registration statement, any proxy statement and other relevant
documents filed with the SEC from the SEC's website at www.sec.gov.
Stockholders will also be able to obtain a free-of-charge copy of the
proxy statement and other relevant documents by directing a request by
mail or telephone to either (i) PFSweb, Inc., 500 North Central
Expressway, Suite 500, Plano, Texas 75074 Attention: Corporate
Secretary, Telephone: (972) 881-4044, or from PFSweb's website,
www.pfsweb.com or (ii) eCOST, Inc., 2555 West 190th Street, Suite 106,
Torrance CA 90504 Attention: Corporate Secretary, Telephone: (310)
225-5025, or from eCOST's website, www.eCOST.com.
Each company and certain of its directors, executive officers and
other members of management and employees may, under the rules of the
SEC, be deemed to be "participants" in the solicitation of proxies
from such company's stockholders in favor of the prospective merger.
Information regarding the persons who may be considered "participants"
in the solicitation of proxies is set forth in the Registration
Statement that is filed with the SEC. Information regarding certain of
these persons and their beneficial ownership of the common stock of
either company is also set forth in the Schedule 14A filed by eCOST on
May 27, 2005 with the SEC, and the Schedule 14A filed by PFSweb on
April 28, 2005 with the SEC.