CSI - The Center for Data Warehousing Announces New Bank Credit Facility
March 31 2004 - 11:11AM
PR Newswire (US)
CSI - The Center for Data Warehousing Announces New Bank Credit
Facility EAST HANOVER, N.J., March 31 /PRNewswire-FirstCall/ --
Conversion Services International, Inc. (CSI-The Center for Data
Warehousing) (BULLETIN BOARD: CSII.OB) ("CSI") announced today that
it has closed on a new $3 million secured line of credit. It may be
used for general corporate purposes. The new credit facility was
arranged by The Trust Company of New Jersey. The agreement is
scheduled to expire in March 2007. Consequently, CSI is terminating
its $2.25 million secured line of credit with Fleet Bank. "We chose
Trust Company to assist us with our aggressive growth plans since
it is one of the largest and fastest growing commercial banks in
New Jersey. We view Trust Company as a business partner who will be
there to support us and the execution of our strategy," stated
Mitchell Peipert, Vice President and Chief Financial Officer of
CSI. About Conversion Services International, Inc. CSI - TheCenter
for Data Warehousing is a leading provider of a new category of
professional services that embraces IT management consulting, data
warehousing, business intelligence consulting and e-Business
solutions. CSI offers an array of products and services to help
companies define, develop and implement the warehousing and
strategic use of both enterprise-wide and specific categories of
strategic data. CSI's current customers include Verizon Wireless,
Morgan Stanley, Pfizer, Goldman Sachs, Merck and Standard &
Poor's. Information about CSI-The Center for Data Warehousing can
be found on the web at http://www.csiwhq.com/ or by calling its
corporate headquarters at 888-CSI- 5036. About Trust Company The
Trust Company of New Jersey is one of the largest banks based in
New Jersey. It is a full service commercial bank, founded in 1896,
that operates over 90 branches and over 160 ATMs throughout New
Jersey's 13 northern and central counties, as well as 2 locations
in Rockland County, New York. Forfurther information regarding The
Trust Company of New Jersey, visit its website at
http://www.trustcompany.com/. Note on Forward-Looking Statements
Statements contained in this press release, which are not
historical facts, are forward-looking statements as that term is
defined in the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are based largely on current
expectations and are subject to a number of known and unknown
risks, uncertainties and other factors beyond our control that
could cause actual events and results to differ materially from
these statements. These statements are not guarantees of future
performance, and readers are cautioned not to place undue reliance
on these forward-looking statements, which speak only as of the
date of this release. CSI undertakes no obligation to update
publicly any forward-looking statements. DATASOURCE: Conversion
Services International, Inc. CONTACT: Mitchell Peipert, Vice
President and Chief Financial Officer of Conversion Services
International, Inc., +1-973-560-9400, ext. 2088, Web site:
http://www.csiwhq.com/ http://www.trustcompany.com/
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