07/02/03 SageGroup Announces a Credit and Collections Division To Help Troubled Companies Nationally and Internationally

New York, NY, and Alameda, CA - July 2, 2003 - SageGroup Strategies, Inc., announces that it has formed a major SGS Credit and Collections Division to help troubled companies in several ways. SageGroup is the largest Professional Troubled-Company Specialist firm nationally and internationally, with over 50 offices throughout the United States, plus Beijing, China, plus many U.S. and international relationships.

The main purposes of the SGS Credit and Collections Division are: 1) To provide credit and collections services to SGS clients, both directly and by involving other quality firms; 2) To develop professional mutually-beneficial working relationships with quality collection agencies, including to involve each other to help troubled companies where and as appropriate; 3) To develop professional mutually-beneficial working relationships with corporations' CFOs, credit and collections managers, and other executives, including for these corporations to refer bad receivables to SGS in order that SGS might help these troubled companies get out of trouble (and thus be able to pay their debts).

"Commercial collection agencies very often encounter troubled companies which could be greatly helped by SageGroup", stated Manny Kyriannis, one of the four SGS Credit and Collections Division Co-Managers. "I saw this many times during my fourteen years as founder and president of Credit Management Services, Inc., a commercial credit agency serving the metropolitan New York City area. In a great many cases slow-pay accounts receivable are because the companies are in some form of trouble that has resulted in cash shortages, financing difficulties, and other severe problems. SageGroup can help these companies get into better financial situations, including that they can stay in business and pay their debts. This, of course, is far better for the collection agencies and their customers, especially since most of these troubled companies could otherwise remain in financing and cash crunches, often leading to bankruptcy filings, collapse, and/or discounted debt."

"Corporations could also be helped much if they would watch their accounts receivable closely, then involve SageGroup when appropriate," added Randy Friedman, another of the SGS Credit and Collections Division Co-Managers. "Especially in a difficult business climate like now, most corporations have certain accounts receivable that have become slow-pay and are in much danger of becoming uncollectible and written off, usually because the accounts are troubled companies. Such write-offs hurt not only the corporations themselves and their financial positions, financial statements, etc., but also can create serious problems for the corporations' financial and other executives. It is far better in most situations for the corporations to refer these troubled companies to SageGroup so that SageGroup can try to save these troubled companies and help them to have stronger cash positions, including more ability to pay their debts."

The SGS Credit and Collections Division will be represented in every SGS Office nationally. On one hand, it will be available to assist all SGS clients with specialized professional help. Concurrently, the Division will proactively increase and deepen SageGroup's working relationships with many credit and collections firms, persons, and other entities.

SageGroup provides troubled 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: credit and collections experts; 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; and others.

SageGroup's staff has been involved in hundreds of difficult company situations, including: credit and collections matters; financings and refinancings; turnarounds; crisis management; debtor programs; spin-outs; restructurings and reorganizations; managed wind-downs and shut-downs; and others.

Most troubled companies are in very sensitive, complex, and confidential situations. Accordingly, for maximum confidentiality and effectiveness, all initial inquiries from troubled companies and their advisors are directed to Larry Lindsey, a Managing Director in SGS's National Coordination Office, phone number (510) 865-2480.

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 its www.SageGroupStrategies.com website.

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