Charys Holding Company, Inc. (fka CHYSQ)

[jonesieatl]

Charys Holding Company's C&B - Cotton Subsidiaries Mark Key Achievements as ``New Cotton'' Integration Begins

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BusinessWire
10:00 a.m. 12/14/2006


ATLANTA, Dec 14, 2006 (BUSINESS WIRE) -- Charys Holding Company, Inc. ("Charys") (CHYS) announced today several key agreements executed by its newly formed subsidiary C&B - Cotton. The new agreements show immediate momentum by the integrated company, formed following the previously announced merger of Charys' Crochet and Borel Services, Inc. ("C&B") and Cotton Companies ("Cotton").

The company has been awarded a General Services Administration ("GSA") contract and added to the Environmental Services Remediation Schedule, placing it in position for immediate government services assignments. The company has also been named Preferred Vendor for Liberty Mutual Commercial Insurance, based on the quality and value of services performed.

The GSA contract (#GS-10F-0061T), valid through November 2011, under the Environmental Services Remediation Schedule (899-8), streamlines the procurement process for federal agencies as well as other organizations in need of remediation services. GSA Contracting Officers award Schedule contracts to companies that meet strict criteria for quality and competitive pricing as well as comply with federal, state and/or local statutes and regulations. The GSA annually negotiates contracts for goods and services bought from the private sector, with approximately $44 million spent on remediation services to date in 2006 and $73 million in 2005.

Troy Crochet, President of C&B, stated, "This GSA contract will simplify government agencies' access to our services by eliminating the burdensome and exhaustive bidding and contracting process and will allow us to quickly and cost-effectively focus all of our efforts on providing quality and consistency during our customers' most devastating and vulnerable moments. Our high quality back office administration has a proven ability of providing timely and accurate documentation required by government agencies. Now, with the GSA contract, government agencies will have even more streamlined access to our services in any event or crisis situation."

C&B has also added four new companies to its Preferred Client List by entering into Advance Emergency Response Agreements for the expeditious response and mitigation of future property loss: Elliott Merrill Management, headquartered in Vero Beach, FL, manages more than 80 properties, including 9,096 units in high rise condominiums; First Services Credit Unions is one of the largest credit unions in Houston, TX with more than 35,000 members and eleven locations; Spanish Key Condominium, a high rise resort complex located in Perdido Key, FL; and Gulf States Health Services which provides rehabilitation and long-term acute care in 12 locations throughout Louisiana.

Cotton has been named as a Preferred Vendor by Liberty Mutual Commercial Insurance, a leading global insurer and the sixth largest property and casualty insurer in the US. Pete Bell, president of Cotton noted, "This achievement with Liberty Mutual is a great testimony to the quality and value placed on our ongoing service to Liberty clients. We are committed to providing the highest levels of service in every situation we are brought in to, large or small. Our business continues strong, with Cotton in the final stages of the $1.1 million dollar restoration contract with Wheaton College after an October rainstorm caused major flood and water damage to several buildings on its Wheaton, IL campus. We are also near completion on a $200,000 contract with Sports Authority in Connecticut."

Billy Ray, Jr., Chairman and CEO of Charys, added, "The recognition given to both C&B and Cotton by these high caliber organizations exemplifies the reputation and trust they have engendered throughout the remediation industry. These achievements further strengthen our commitment of becoming a complete solutions provider in the business services segment of the infrastructure market. Charys' umbrella of companies covers its customers from first response, to reconstruction, through the recovery and restoration of data/communication networks, and with their ongoing service management needs."