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XA Completes Acquisition of Musters & Co., a Leading New York
Event Design Firm
CHICAGO, Jan. 5 /PRNewswire-FirstCall/ -- XA, Inc., (OTC BB: XAIN), a major
national event marketing firm that serves many Fortune 500 companies, reported
it has completed its acquisition of Musters & Co., a high-profile New
York-based event design and production firm. The acquisition is immediately
accretive to earnings. The details of the transaction will be available in the
Company's 8K filing.
Musters & Co. is headed by Mark Musters, who has joined XA as Creative
Director, NY. Known throughout New York as well as nationally for the
brilliant environments he creates, Musters has a cadre of glamorous clients
among New York fashion and media companies. He created costumes and stage sets
on Broadway before opening his own event planning and floral design company in
1998.
XA Chief Operating Officer Joseph Wagner said, "With the closing of the Musters
& Co. acquisition, XA expects to add more than $2.5 million in revenue and
enhance its bottom line profitability in 2005. In addition to acquiring a
successful floral and event decor business, XA enhances its capability for
producing one-of-a-kind event decor and design elements in New York."
Musters' operations, located in the floral district in New York, include a wood
shop and a welding shop for constructing elaborate environments. Musters has
been featured on the Discovery Channel as well as in InStyle Weddings, New York
Magazine and House and Garden Magazine. Musters & Co. has created spectacular
showrooms and events for such high-profile corporations as MGM, Target, Revlon,
Cosmopolitan, Entertainment Weekly and People magazines, VH1, SONY and
Infiniti. These assignments have made his name a household word in the
high-end event design industry.
The event marketing industry generates nearly $80 billion a year in direct
spending, according to a study by Deloitte & Touche LLP. Moreover, corporate
spending on event marketing has been growing; it rose 15% in 2003 and it is
predicted to generate an additional 15%-to-20% growth in 2004. (Source: PROMO
Magazine)
About XA
XA has full service offices in Chicago, New York and Los Angeles from which it
provides corporations and highly visible brands with comprehensive event
marketing, design and production services. Since 1989, Chairman and CEO Frank
Goldstin and his team have been the creative force behind prestigious, national
projects for such clients as The NBA, Disney, McDonald's, British Telecom, Song
Airlines, Eurex, Olympus, Salvatore Ferragamo, Vogue, W Hotels, ABN AMRO and
Emirates Airline. In 2003 and 2004, Special Events Magazine ranked XA as one
of the "Top 50 Powerhouse Event Companies in the World."
This press release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. In particular, when used
in the preceding discussion, the words "believes," "expects," "intends,"
"will," "anticipated," or "may," and similar conditional expressions are
intended to identify forward-looking statements within the meaning of the Act
and are subject to the safe harbor created by the Act. Except for historical
information, all of the statements, expectations and assumptions contained in
the foregoing are forward-looking statements that involve a number of risks and
uncertainties. It is possible that the assumptions made by management are not
necessarily the most likely and may not materialize. In addition, other
important factors that could cause actual results to differ materially include
the following: business conditions and the amount of growth in the company's
industry and general economy; competitive factors; ability to attract and
retain personnel; the price of the Company's stock; and the risk factors set
forth from time to time in the Company's SEC reports, including but not limited
to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and
any reports on Form 8-K. XA, Inc. (OTC BB: XAIN) takes no obligation to update
or correct forward-looking statements and also takes no obligation to update or
correct information prepared by third parties that is not paid for by the
Company.
For more information, please contact:
Company:
Lara Shipp
XA
312-397-9100 ext. 2399
Investors:
Truc Nguyen
VP, Investor Relations
Stern & Co.
212-888-0044
Media:
Stan Froelich
VP, Media Relations
Stern & Co.
212-888-0044
DATASOURCE: XA, Inc.
CONTACT: Lara Shipp of XA, +1-312-397-9100 ext. 2399, or
; or Investors, Truc Nguyen, VP, Investor Relations,
+1-212-888-0044, or , or Media, Stan Froelich, VP, Media
Relations, +1-212-888-0044, or , both of Stern & Co.
Web site: http://www.expagency.com/