Business
The Marketing Alliance Announces Stock Repurchase Program
The Marketing Alliance Announces Stock Repurchase Program.
About this update from Marketing Alliance, Inc. (the)
[{"type":"text","content":"\r\nCONTACT:\t \r\nThe Marketing Alliance, Inc.\t \r\nTimothy M. Klusas, President\t \r\n(866) 235-5600\t\t\t \t\t\r\[email protected] \t\t\t\t\t\r\nwww.themarketingalliance.com\t\t\t\t\t\t\r\n\t\t\t\r\nINVESTOR RELATIONS:\r\nThe Equity Group Inc.\r\nAdam Prior \r\n(212) 836-9606\t\r\[email protected]\t\t\t\r\n \r\nFOR IMMEDIATE RELEASE\r\n\r\nTHE MARKETING ALLIANCE ANNOUNCES STOCK REPURCHASE PROGRAM\r\n\r\nBoard of Directors Authorizes Company to Purchase Up to 100,000 Shares\r\n\r\nPittsburgh, PA - August 24, 2005 - The Marketing Alliance, Inc. (Pink Sheets: MAAL) (\"TMA\"), a consortium of independent life insurance brokerage general agencies located throughout the United States, today announced that its Board of Directors has authorized a program allowing the Company to repurchase up to 100,000 shares of TMA common stock until December 31, 2006. The shares may be purchased from time to time in open market transactions depending on price and availability, however there are no assurances that purchases will be made. At June 30, 2005, there were approximately 2.0 million shares of TMA common stock outstanding. \r\n\r\nTimothy M. Klusas, TMA's President, stated, \"This authorization allows TMA to return a larger portion of its cash flow to investors, while retaining flexibility with the balance of its free cash. This authorization also reflects the Board's continued confidence in the Company's future prospects.\"\r\n\r\nABOUT THE MARKETING ALLIANCE, INC.\r\nHeadquartered in Pittsburgh, PA, TMA is one the largest organizations providing support to independent insurance brokerage agencies, with a goal of providing members value-added services on a more efficient basis than they can achieve individually. TMA's network is comprised of approximately 150 independent life brokerage and general agencies in 43 states. Investor information can be accessed through the shareholder section of TMA's website at http://www.themarketingalliance.com/si_who.cfm.\r\n\r\nFORWARD LOOKING STATEMENT\r\nInvestors are cautioned that forward-looking statements involve risks and uncertainties that may affect TMA's business and prospects. Any forward-looking statements contained in this press release represent our estimates only as of the date hereof, or as of such earlier dates as are indicated, and should not be relied upon as represent...