National Institute Companies of America (fka NICM)

[bruceski]

Based on this PR, up to 10% and 99 million are issued.

March 09, 2001 16:26

National Institute Companies Of America Announces Stock Buy Back Of Up To 10%
Jump to first matched term

PITTSBURGH, March 9 /PRNewswire/ -- National Institute Companies of America (OTC Pink Sheets: NICM) is pleased to announce that they plan to buy back up to 10% of their outstanding common stock.

"We believe that our stock is very underpriced, and we see this corporate buy-in as one way to maximize shareholder value," stated chief executive officer Kevin P. Maloney.

National Institute Companies of America is a financial holding company that primarily assists banks and financial institutions in their marketing of insurance and investments.

"With our stock selling below book value, and near the bottom of the 52 week price range (.04-.77), we feel that buying our own shares is an attractive investment," concluded Maloney.

Certain statements contained herein constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and 21E of the Exchange Act of 1934. Such statements include, without limitation, statements regarding business and financing, business trends, and future operating revenues and expenses. Although the Company believes that the statements are reasonable, it can give no assurance that such expectations will prove to be correct. Investors are cautioned that any forward-looking statements made by the Company contain no guarantee of future performance, and that the actual result may differ materially from those set forth in the forward-looking statements. Difference in results can be caused by various factors including, but not limited to, the Company's ability to be able to successfully complete planned funding agreements, to successfully market its products in competitive industries or to effectively implement its business plan or strategies.

SOURCE National Institute Companies of America, Inc.

/CONTACT: Howard A. Scala, Wall Street Communications, Inc.,
727-942-0011, for National Institute Companies of America, Inc./

(NICM)