XA Completes Acquisition of Musters & Co., a Leading New York Event Design Firm
January 05 2005 - 5:00AM
PR Newswire (US)
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/
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