News Room
Press Release
FOR IMMEDIATE RELEASE
(Attn: Business Editors, Banking, Finance & High-Tech Writers)
Search engine and Internet consulting firm Walnut Ventures signs letter of intent to merge with MBSL Group
Deal diversifies firm into the Internet Search Industry
SAN FRANCISCO, CA — Monday October 18, 2004 6:00 am ET
Walnut Ventures, Inc., owner and operator of several Pay Per Click (PPC) Internet search engines, has signed a letter of intent to merge and combine operations with MBSL Group, Inc. (OTC trading symbol: MBGR.PK).
MBSL Group, a publicly traded holding company based in Tampa, Fla., was established to acquire or strategically partner with firms who specialize in the transaction processing, financial services and hi-tech industries. MBSL Group’s stock trades on the National Quotation Bureau.
Said Walnut Chief Executive Officer Dan O’Donnell: "Because of the additional capital options afforded through the structure of a public company, we anticipate that this merger will play a significant factor in our strategy to grow our Internet businesses organically as well as through future acquisitions."
MBSL Group Chairman Frank McPartland said, "We are very excited about entering one of the hottest growth industries to come along in a very long time. This anticipated merger represents a major step by management to maximize value for our shareholders. We believe Walnuts’ Pay Per Click Search Engine business model is an ideal fit with our business strategy and feel that this deal coupled with our previously announce merger with Corporate Consulting Services, positions us well for rapid growth in multiple channels"
Based in San Francisco, Walnut owns a number of revenue producing Internet search properties that operate in the same space as firms like Google (GOOG), Mamma.com. (MAMA), InfoSpace (INSP) and AskJeeves (ASKJ). Walnut has long standing partnerships with the top PPC search results providers and has a unique competitive advantage via its’ meta-search technology, which provides users with "one-stop shopping" for the best search results offered throughout the Internet.
In addition, Walnut offers search services to the Registrar/ Domain name channel and desktop search management tools, including a multi purpose toolbar and a desktop search application that allows users to search the internet without first opening a web browser.
More information about MBSL Group can be obtained by visiting its website at: (www.mbslgroup.com)
More information about Walnut can be obtained by visiting its website at (www.walnut-ventures.com).
Except for historical information, matters discussed above are forward-looking statements within the meaning of safe-harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from projected results. Those factors include, but are not limited to, economic, competitive, governmental and technological factors affecting the Company’s operations, markets, services and related products, prices or other areas. The Company undertakes no obligation to publicly release the results of any revisions to forward-looking statements.
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Contacts:
Dan O’Donnell
Chief Executive Officer
Walnut Ventures, Inc.
415-585-6060
dodonnell@walnut-ventures.com
Frank McPartland
Chairman
MBSL Group, Inc.
813-636-8020