SageGroup Strategies Press Releases

02/14/03 SageGroup Announces a Major Chinese Agreement to Help American and Chinese Companies

Beijing, China and Alameda, CA, USA - February 14, 2003 - SageGroup Strategies announces that it has signed a major agreement with an important established Chinese government agency to help American and Chinese untroubled and troubled companies. The January 31, 2003 Overall Agreement was signed concurrently in Beijing and the USA by SageGroup and the multinational Beijing International Business Consultant & Service Center (known as "BIBCS"), a well-known well-connected entity.

Under the Chinese governmental structure, BIBCS is an important part of a huge system that reaches into every part of China and is very important and influential throughout the Country. BIBCS itself is directly part of the Beijing Science & Technology Committee, which in turn is directly part of the Science & Technology Committee of China. The Chinese Ministry of Science & Technology is very, very important in China.

The BIBCS/SGS Overall Agreement is purposefully very broad in scope, allowing not only for referring and working jointly on client situations but also that "BIBCS and SGS will seek to identify, structure, and implement various mutually-beneficial ways to work together." Discussions have already begun to identify and implement many such ways to work together. These are to include with both untroubled and troubled companies, even though SGS is best recognized in the USA as the largest Professional Troubled-Company Specialist firm in the USA and the world, with over forty Offices within the USA and pending Offices in Beijing and elsewhere.

In communications to SGS, BIBCS has indicated that its main services include:

1. Organizing international exhibitions, conferences, and seminars, both in China and abroad.
2. Organizing training and investigation programs, sending Chinese delegations abroad and receiving foreign delegations or individuals in China for these purposes.
3. Being agent for Chinese enterprises to promote their products into international markets, and assisting foreign enterprises to market their products or technologies into China.
4. Providing business consultation and other related services to foreign enterprises and investors in market research and joint venture arrangements as well as language translation.
5. Assisting foreign enterprises to establish their representative organizations in Beijing.
6. Providing various specialists and employees for foreign enterprises' representative offices in Beijing.

In addition, it is expected that BIBCS and SGS (coordinated through SGS's internationally-focused China Division) will work closely with China-based and USA-based troubled companies, helping them to get out of trouble and growing and developing well, including within both countries where appropriate.

BIBCS is headquartered at No.16 Xizhimen Nan Dajie, Beijing 100035, China, and its website is http://bibcs.bestinfo.net.cn.

SGS's China Division will work with BIBCS in many ways, including simple introductions where appropriate. The SGS focus is on complex situations, including troubled companies, American companies trying to do business in China, and Chinese companies trying to do business in the USA.

SageGroup provides troubled China-related companies with its powerful large group of professionals, who are experts at helping troubled companies get out of trouble and move forward. SageGroup's staff includes over 600 highly-qualified specialists, such as:

  • Financing and financial experts
  • Troubled-company experts
  • Turnaround experts
  • Marketing specialists
  • CPAs
  • International business experts
  • Attorneys
  • Strategists
  • Joint ventures, mergers, and acquisitions experts
  • Technologists
  • Corporate executives
  • Industry specialists

SageGroup's staff has been involved in hundreds of difficult company situations, including:

  • Refinancings
  • Turnarounds
  • Crisis management
  • Debtor programs
  • Spin-outs
  • Restructurings and reorganizations
  • Managed wind-downs and shut-downs

Most troubled companies are in very sensitive, complex, and confidential situations. Accordingly, for maximum confidentiality and effectiveness, all initial inquiries from troubled China-related companies are directed to Larry Lindsey, a SGS Managing Director and a SGS China Division Co-Manager, at SGS's National Coordination Office, phone number (510) 865-2480. Thomas Murray, another China Division Co-Manager, and other China-experienced Division members may also get involved after client approval.

ABOUT SAGEGROUP STRATEGIES
SageGroup Strategies is the largest Professional Troubled-Company Specialist firm in the United States and the world. Besides being very experienced and knowledgeable, SageGroup emphasizes being very discreet, working with absolute confidentiality and behind the scenes whenever necessary. As part of its strict confidentiality policies, SageGroup has never disclosed or publicized the names of its clients.

More information about SageGroup Strategies is available at: http://www.SageGroupStrategies.com.

MEDIA CONTACT:
David Lawrence
National Coordination Office
SageGroup Strategies, Inc.
1370 Third Street, Suite 110
Alameda, CA 94501
(510) 865-2480 Phone
(510) 865-6654 Fax
SGS@SageGroupStrategies.com