Whitney Information Network Expands Executive and Junior Management Pool
Whitney Information Network Expands Executive and Junior Management Pool
For Immediate Release
For More Information:
Earnest Mathis, Inverness Investments 303/794-9450
Ron Simon, CFO 239/542-8999
Comprehensive Communications 480/540-8336
CAPE CORAL, Fla – September 12, 2002 – Whitney Information Network, Inc., a leading provider of post-secondary career training programs designed to educate students in the areas of real estate investing, business development, asset protection and financial management, today announced that it has appointed two individuals with extensive management experience to play key roles in continuing the ongoing execution of the Company's business plan and growth-strategy. Nicholas S. Maturo has joined the Company as Vice President Strategic Planning and Development; and Richard “Ben” Brown has joined as a Junior Executive, assisting in the mergers and acquisition division under current Vice President of Development, Michael Mucci. Chairman and CEO Russ Whitney said, “Nicholas and Ben bring both national and International management experience which will prove instrumental in assisting Whitney Information Network to reach the next level of its anticipated growth. Our management team is focused on extending our educational techniques and programs to new markets, including new geographic regions and topical markets outside of real estate, asset protection and stock market trading. Both of these individuals will add the depth and skills the Company needs as it progresses along that strategic path. I'm very pleased to have them on the Whitney team.” Mr. Maturo brings 30 years of business experience to Whitney Information Network, including over 15 years in International markets. Mr. Maturo joins Whitney Information Network from Foodtrader, Inc., where he served as Chief Operating Officer and was responsible for managing business development relations and acquisitions and mergers. Mr. Maturo also marketed products and services to key multinational customers, and implemented successful on-line based applications for Foodtrader.com. He has extensive International experience with Kraft Foods International where he was Chief Information Officer and served as a member of the Philip Morris CIO Committee and KFI Finance Operations Committee. While at KFI, he led an 840-person corporate systems organization with an operating budget of $172 million and integrated strategies and technologies across multi-country entities. Mr. Maturo also held positions as Director of Information Systems for Kraft Jacobs Suchard, based in Zurich, Switzerland; Director of Procurement, Logistics and Customer Service for Kraft Canada, Inc., in Toronto, Canada; and Director of Finance, Kraft Europe SA, based in Lausanne, Switzerland and Milan, Italy. He has a Bachelor of Commerce, Finance, and Economics, and holds a certificate from the Executive General Management Program at McGill University, in Montreal, Canada. Mr. Brown has more than six-years experience building and leading corporate finance and accounting organizations. He has worked in the areas of transactional structuring and negotiating, commercial development and lending, mergers and acquisitions, and regulatory dealings and compliance. His leadership skills have led him to positions in Fine Air Services, Inc., as Vice President, Finance, Vice President, Cargo Services, Vice President, Corporate Development, and Director of Finance for the Miami-based company. Mr. Brown played a key role in the structuring, financing and construction of a $70 million development transaction for a multi-tenant cargo facility at Miami International Airport, and was instrumental in the acquisition of a $110 million aircraft corporation. Mr. Brown was also part of a team that raised over $200 million in long-term capital financing including bond preparation, marketing, interest rate negotiation and bond conveyancy. As Vice President of Cargo Services, he managed a department with over 500 employees responsible for the efficient movement of cargo across 17 destinations within 13 countries. He graduated in 1996 from Mercer University, where he received a BBA in Finance. Whitney Information Network, Inc. recently announced record net income of $2.8 million for the three months ended June 30, 2002, a 204 percent increase compared to the $920,927 reported for the same quarter last year. Revenue for the second quarter was $17.5 million, a 45.8 percent increase compared to the $12 million reported for the same period last year. Whitney Information Network, Inc. is an international leader in the post-secondary career training sector. Whitney is a fully integrated training and education company that creates, produces and markets a wide variety of training programs. Thousands of students register each week for training in real estate investment, business development, asset protection, and financial management. The Company maintains its International Corporate Headquarters in Cape Coral, Florida with its consulting group based in Salt Lake City, Utah. Its Canadian subsidiary, Whitney Canada, Inc., conducts its operations from Mississauga, Ontario and its United Kingdom subsidiary, Whitney UK, Ltd. is located in Chiswick, England. The Company is listed on the Internet at
http://www.russwhitney.com and its shares trade under the ticket symbol RUSS on the Electronic Bulletin Board. Information included in this news release contains forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995 ("Reform Act"). Such statements are based on current expectations and involve a number of known and unknown risks and uncertainties that could cause the actual results and performance of the Company to differ materially from any expected future results or performance, expressed or implied, by the forward-looking statements. In connection with the safe harbor provisions of the reform act, the Company has identified important factors that could cause actual results to differ materially from such expectations, including operating uncertainty, uncertainties relating to economic issues and competition. Reference is made to all of the Company's SEC filings, including the Company's Reports on Forms 10KSB, 10QSB and other periodic reports.
Earnest Mathis, Inverness Investments 303/794-9450
Ron Simon, CFO 239/542-8999
Comprehensive Communications 480/540-8336
CAPE CORAL, Fla – September 12, 2002 – Whitney Information Network, Inc., a leading provider of post-secondary career training programs designed to educate students in the areas of real estate investing, business development, asset protection and financial management, today announced that it has appointed two individuals with extensive management experience to play key roles in continuing the ongoing execution of the Company's business plan and growth-strategy. Nicholas S. Maturo has joined the Company as Vice President Strategic Planning and Development; and Richard “Ben” Brown has joined as a Junior Executive, assisting in the mergers and acquisition division under current Vice President of Development, Michael Mucci. Chairman and CEO Russ Whitney said, “Nicholas and Ben bring both national and International management experience which will prove instrumental in assisting Whitney Information Network to reach the next level of its anticipated growth. Our management team is focused on extending our educational techniques and programs to new markets, including new geographic regions and topical markets outside of real estate, asset protection and stock market trading. Both of these individuals will add the depth and skills the Company needs as it progresses along that strategic path. I'm very pleased to have them on the Whitney team.” Mr. Maturo brings 30 years of business experience to Whitney Information Network, including over 15 years in International markets. Mr. Maturo joins Whitney Information Network from Foodtrader, Inc., where he served as Chief Operating Officer and was responsible for managing business development relations and acquisitions and mergers. Mr. Maturo also marketed products and services to key multinational customers, and implemented successful on-line based applications for Foodtrader.com. He has extensive International experience with Kraft Foods International where he was Chief Information Officer and served as a member of the Philip Morris CIO Committee and KFI Finance Operations Committee. While at KFI, he led an 840-person corporate systems organization with an operating budget of $172 million and integrated strategies and technologies across multi-country entities. Mr. Maturo also held positions as Director of Information Systems for Kraft Jacobs Suchard, based in Zurich, Switzerland; Director of Procurement, Logistics and Customer Service for Kraft Canada, Inc., in Toronto, Canada; and Director of Finance, Kraft Europe SA, based in Lausanne, Switzerland and Milan, Italy. He has a Bachelor of Commerce, Finance, and Economics, and holds a certificate from the Executive General Management Program at McGill University, in Montreal, Canada. Mr. Brown has more than six-years experience building and leading corporate finance and accounting organizations. He has worked in the areas of transactional structuring and negotiating, commercial development and lending, mergers and acquisitions, and regulatory dealings and compliance. His leadership skills have led him to positions in Fine Air Services, Inc., as Vice President, Finance, Vice President, Cargo Services, Vice President, Corporate Development, and Director of Finance for the Miami-based company. Mr. Brown played a key role in the structuring, financing and construction of a $70 million development transaction for a multi-tenant cargo facility at Miami International Airport, and was instrumental in the acquisition of a $110 million aircraft corporation. Mr. Brown was also part of a team that raised over $200 million in long-term capital financing including bond preparation, marketing, interest rate negotiation and bond conveyancy. As Vice President of Cargo Services, he managed a department with over 500 employees responsible for the efficient movement of cargo across 17 destinations within 13 countries. He graduated in 1996 from Mercer University, where he received a BBA in Finance. Whitney Information Network, Inc. recently announced record net income of $2.8 million for the three months ended June 30, 2002, a 204 percent increase compared to the $920,927 reported for the same quarter last year. Revenue for the second quarter was $17.5 million, a 45.8 percent increase compared to the $12 million reported for the same period last year. Whitney Information Network, Inc. is an international leader in the post-secondary career training sector. Whitney is a fully integrated training and education company that creates, produces and markets a wide variety of training programs. Thousands of students register each week for training in real estate investment, business development, asset protection, and financial management. The Company maintains its International Corporate Headquarters in Cape Coral, Florida with its consulting group based in Salt Lake City, Utah. Its Canadian subsidiary, Whitney Canada, Inc., conducts its operations from Mississauga, Ontario and its United Kingdom subsidiary, Whitney UK, Ltd. is located in Chiswick, England. The Company is listed on the Internet at
http://www.russwhitney.com and its shares trade under the ticket symbol RUSS on the Electronic Bulletin Board. Information included in this news release contains forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995 ("Reform Act"). Such statements are based on current expectations and involve a number of known and unknown risks and uncertainties that could cause the actual results and performance of the Company to differ materially from any expected future results or performance, expressed or implied, by the forward-looking statements. In connection with the safe harbor provisions of the reform act, the Company has identified important factors that could cause actual results to differ materially from such expectations, including operating uncertainty, uncertainties relating to economic issues and competition. Reference is made to all of the Company's SEC filings, including the Company's Reports on Forms 10KSB, 10QSB and other periodic reports.