Message #8 From:
Stock News Bot Date: November 25, 2005 07:45:00 AM
RSGC News Strategy International Insurance Group, Inc. Extends Exclusivity Agreement With RS Group Of Companies, Inc.
TORONTO--(BUSINESS WIRE)--Nov. 25, 2005--Strategy International Insurance Group, Inc. (OTCBB:SGYI), announced today that by mutual agreement the exclusivity period set out in the May 25, 2005 letter of intent to merge with RS Group of Companies, Inc. (OTCBB:RSGC) has been extended to December 31, 2005, to enable Strategy to complete its recapitalization and negotiate a merger agreement with RS Group. There can be no assurance that a transaction will result.
"Strategy senior management is very confident the recapitalization process will be finalized in the near future which will enable us to focus our efforts on negotiating the close of the acquisition of RS (Group of Companies)," said Stephen Stonhill, Strategy's Chief Executive Officer. "We are looking forward to putting the challenges faced in 2005 behind us and moving ahead with Strategy's business plan."
About Strategy International Insurance Group, Inc.
Strategy International Insurance Group, Inc., (http://www.sgyi.com) a Texas corporation is a publicly traded holding company for a group of financial service companies that are located throughout the world. Strategy Holding Company Limited, a wholly-owned subsidiary is the parent company for a group of insurance related organizations whose operating subsidiaries include Strategy Insurance Limited of Barbados, Strategy Insurance (Canada) Limited and Strategy Underwriting Agency Limited. Strategy Holding Company Limited owns all of the insurance operations of which the key operating insurance company is Strategy Insurance Limited. Strategy Insurance Limited was incorporated in Barbados on December 23, 2003 and was granted a license under the Barbados Exempt Insurance Act on March 25, 2004. Strategy Insurance Limited is Strategy International Insurance Group, Inc.'s key operating insurance company.
About RS Group of Companies, Inc.
RS Group of Companies, Inc. (http://www.rsgc.com) has developed and is implementing a strategy to design, structure and sell a broad series of pass-through risk specialty insurance and reinsurance platforms throughout North America. The company is structured as a holding company for an integrated group of businesses that operates in four distinct operating segments: residential rental services, timeshare affinity program, financial guarantee, and specialty insurance brokerage. Current offerings include RentShield(R) (http://www.rentshield.com), a Residential Rental Services Program being offered to North America's $300 billion residential real estate rental market, and Value Guaranteed Vacations, Inc.'s timeshare affinity program, VGV(TM) Program (http://www.vgvinc.com).
Forward-Looking Statement
Statements included in this press release which are not historical in nature, are intended to be, and are hereby identified as "Forward Looking Statements" for purposes of safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended. Forward Looking Statements may be identified by words including "anticipate", "await", "envision", "foresee", "aim at", "believe", "intends", "estimates" including without limitation, those relating to the company's future business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the Forward Looking Statements. Readers are directed to the company's filings with the U.S. Securities and Exchange Commission for additional information and a presentation of the risks and uncertainties that may affect the company's business and results of operations.
RS Group of Companies, Inc. (OTC Bulletin Board:RSGC)
Strategy International Insurance Group, Inc. (OTC Bulletin Board:SGYI)
