Collegiate Funding Services Sets Date for Special Stockholders Meeting to Approve Acquisition by JPMorgan Chase Bank, N.A.
January 30 2006 - 4:01PM
PR Newswire (US)
FREDERICKSBURG, Va., Jan. 30 /PRNewswire-FirstCall/ -- Collegiate
Funding Services, Inc. (NASDAQ:CFSI) today announced that it will
hold a Special Meeting of Stockholders at 10:00 a.m. EST on
Tuesday, February 28, 2006 at Wingate Inn, 20 Stafford Drive,
Fredericksburg, Va. 22406, to vote to adopt the company's
previously announced merger agreement with JPMorgan Chase Bank,
N.A., a subsidiary of JPMorgan Chase & Co. (NYSE:JPM). (Logo:
http://www.newscom.com/cgi-bin/prnh/20050714/DCTH039LOGO ) The
merger agreement provides that the transaction will close within
two business days of the satisfaction of all closing conditions,
including stockholder approval. Collegiate Funding Services'
stockholders of record as of the close of business on January 20,
2006 are entitled to vote at the special meeting. The definitive
proxy statement will be mailed to Collegiate Funding Services'
stockholders starting on or about January 30, 2006. BEFORE MAKING
ANY VOTING OR INVESTMENT DECISION, COLLEGIATE FUNDING SERVICES'
STOCKHOLDERS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT
COMPLETELY AS IT CONTAINS IMPORTANT INFORMATION REGARDING THE
PROPOSED TRANSACTION. The definitive proxy statement will be
available at the Securities and Exchange Commission's website,
http://www.sec.gov/, and stockholders also will be able to obtain
additional copies of the definitive proxy statement by directing
their requests to Collegiate Funding Services, Inc., 10304
Spotsylvania Avenue, Fredericksburg, Va. 22408, Attention: Investor
Relations. Collegiate Funding Services and its directors and
officers may be deemed to be participants in the solicitation of
proxies from its stockholders in connection with the proposed
transaction. Information concerning the interests of Collegiate
Funding Services' participants in the solicitation is set forth in
Collegiate Funding Services' proxy statements and Annual Reports on
Form 10-K, previously filed with the Securities and Exchange
Commission, and in the definitive proxy statement relating to the
acquisition. About Collegiate Funding Services Collegiate Funding
Services is a leading education finance company dedicated to
providing students and their families with the practical advice and
loan solutions they need to help manage and pay for the cost of
higher education. Collegiate Funding Services also offers a
comprehensive portfolio of education loan products and services --
including loan origination, loan servicing and campus-based
scholarship and affinity marketing tools -- to the higher education
community. As of September 30, 2005, Collegiate Funding Services
had facilitated the origination of more than $21 billion in
education loans and was servicing $12 billion in student loans for
more than 476,000 borrowers. For additional information, visit
http://www.cfsloans.com/ or call 1-888-423-7562. Forward-Looking
Statements This news release includes "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These "forward-looking statements" may include, but are
not limited to, information contained herein relating to the
proposed merger and the contingencies and uncertainties of
Collegiate Funding Services and to which Collegiate Funding
Services may be subject, as well as other statements including
words such as "anticipate," "believe," "plan," "estimate,"
"expect," "intend," "will," "should," "may," and other similar
expressions. Such statements are made based upon management's
current expectations and beliefs concerning future events and their
potential effects on the company. Among the key factors that may
have a direct bearing on the company's operating results,
performance or financial condition are the failure to obtain
shareholder or regulatory approval for the merger; adverse
regulatory conditions imposed in connection with governmental
approvals of the merger; changes in terms, regulations and laws
affecting student loans and the educational credit marketplace; and
changes in general economic conditions. Important factors that
could cause the company's actual results to differ materially from
the forward-looking statements the company makes in this release
are set forth in the company's filings with the Securities and
Exchange Commission, including in the section entitled "Risk
Factors" in the company's Quarterly Report on Form 10-Q for the
Quarter Ended September 30, 2005. The company undertakes no
obligation to update or revise forward-looking statements which may
be made to reflect events or circumstances that arise after the
date made or to reflect the occurrence of unanticipated events
unless the company has an obligation to do so under the federal
securities laws. First Call Analyst: FCMN Contact:
http://www.newscom.com/cgi-bin/prnh/20050714/DCTH039LOGO
http://photoarchive.ap.org/ DATASOURCE: Collegiate Funding
Services, Inc. CONTACT: Media: Ann Collier, Senior Vice President,
Corporate Communications, +1-540-368-5970, , or Investors: Gary
Tiedemann, Vice President, Investor Relations, +1-540-735-1235, Web
site: http://www.cfsloans.com/
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