NORTHBROOK, Ill.–June 27, 2005–CGI Holding Corporation d/b/a Think Partnership Inc. (“THK” or the “Company”) announced that its PrimaryAds Inc. subsidiary has settled its lawsuit against Direct Response Technologies, Inc (“DRT”). The principal terms of the settlement include the following:
- DRT shall provide PrimaryAds with a duplicate of its Business Information and Data.
- DRT shall continue to provide services to PrimaryAds for nine months after DRT has provided PrimaryAds with a duplicate of its Business Information and Data.
- Both parties agreed to release the other from all liability relating to the lawsuit.
- PrimaryAds will dismiss the lawsuit within one month after it receives its Business Information and Data from DRT.
Kenneth Harlan, the Chief Executive Officer of Think Partnership’s PrimaryAds Inc. subsidiary, stated,
“This settlement represents a huge opportunity for PrimaryAds to continue the kind of industry growth that made us so attractive to Think Partnership in the first place. We are happy that Direct Response has agreed to return our Business Information and Data to us. Moreover, the litigation prompted our sister company, Kowabunga, to accelerate an already-developing campaign-based network solution that will be uniquely tailored to meet the needs of our affiliates, while providing our staff the features and functionality that will continue to help us scale our operations. We now have the additional time necessary to ensure a seamless transition onto Kowabunga’s newly expanded platform.
“We are excited to once again direct 100% of our focus and effort to providing our affiliates with truly outstanding revenue opportunities backed by personal customer service. It is unfortunate that our long-term relationship with Direct Response had to be brought into the courts. However, we will always be thankful for the ability we had to work with Direct Response and we wish them good luck in their future endeavors,” Harlan added.
Gerard M. Jacobs, the Chief Executive Officer of Think Partnership, stated, “We entered this litigation with two objectives, and we were able to achieve both of them: securing PrimaryAds’ Business Information and Data, and protecting PrimaryAds’ customers and business prospects both short-term and long-term. I deeply appreciate and wish to publicly acknowledge the immediate and highly effective legal representation PrimaryAds and Think Partnership received in this matter from attorneys Jeff Bresch and Jayme Butcher of Reed Smith LLP in Pittsburgh.”
The Company has begun doing business under the name “Think Partnership Inc.” and will seek formal shareholder approval to change its legal name to Think Partnership Inc. The Company is based in Northbrook, Ill. (see www.thinkpartnership.com) and currently has eight subsidiaries: WebSourced, Inc., Morrisville, N.C., a leader in search engine optimization and pay-per-click campaign management (see www.websourced.com and www.keywordranking.com); MarketSmart Advertising, Inc., Rightstuff, Inc. d/b/a Bright Idea Studios, and Checkup Marketing, Inc., Raleigh, N.C., providing world-class off-line advertising, public relations, marketing, branding and shopping evaluation services (see www.marketsmart.net, www.brightideastudios.com and www.checkupmarketing.com); Cherish, Inc., Clearwater, Fla., a leading online dating company (see www.cherish.com); Ozona Online Network, Inc., Clearwater, Fla., providing a comprehensive scope of online services including start to finish web design, custom web based applications, database systems, managed and shared hosting solutions, e-commerce, and high-speed business Internet access (see www.ozline.net); KowaBunga! Marketing, Inc., Westland, Mich., providing Internet marketing software technologies, including software for affiliate marketing, search engine marketing and opt-in email marketing (see www.kowabunga.com); and PrimaryAds Inc., North Plainfield, NJ, a leading provider of affiliate marketing services that connects website publishers with online advertisers (see www.PrimaryAds.com). The Company has also entered into an agreement to merge with privately-held Meandaur, Inc. d/b/a Proceed Interactive, a full service marketing and communications agency with a core competency in search marketing, which has offices in Chicago, Ill., Dallas, Texas and Los Angeles, Calif. (see www.proceedinteractive.com); and has signed letters of intent to acquire: Vintacom Media Group, Inc., Edmonton, Alberta Canada, a leading online dating company (see www.Vintacom.com); and Real Estate School Online Inc., Miami, FL, a leader in online education (see www.RealEstateSchoolOnline.com).
Statements made in this press release that express the Company’s or management’s intentions, plans, beliefs, expectations or predictions of future events, are forward-looking statements. The words “believe,” “expect,” “intend,” estimate,” “anticipate,” “will” and similar expressions are intended to further identify such forward-looking statements, although not all forward-looking statements contain these identifying words. Those statements are based on many assumptions and are subject to many known and unknown risks, uncertainties and other factors that could cause the Company’s actual activities, results or performance to differ materially from those anticipated or projected in such forward-looking statements. For a discussion of these risks, see the Company’s report on Form 10-QSB for the quarter ended March 31, 2005 under the section headed “Management Discussion and Analysis or Plan of Operation – Risk Factors.” The Company cannot guarantee future financial results, levels of activity, performance or achievements; and investors should not place undue reliance on the Company’s forward-looking statements. The forward-looking statements to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.
Contact:
Wordsmith Communications (for Think Partnership)
Glenna Musante, 800-849-2118, ext. 126
gmusante@marketsmart.net
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