IRVINE, Calif., Oct. 22, 2003 (PRIMEZONE) -- eSynch Corporation (Other OTC:ESYN) today announced that its Board of Directors has set a new record date of November 21, 2003 for the proposed distribution of eSynch Corporation common stock to effect the spin-off of its Oxford Media Corp and Kiss Software Corporation subsidiaries. As previously announced, eSynch's Board of Directors authorized the spin offs as part of the Company's strategy to pursue new market opportunities, growth and increased shareholder values.
The timing of the distribution is contingent upon the completion of the review by the Securities and Exchange Commission of eSynch's 14C Information Statement filed last month and completion of the subsidiary audits. Given the time expected to complete these activities and shareholder notification requirements, the spin-offs and distribution of eSynch common stock is currently targeted for the end of November.
"With the audits and regulatory approvals in progress, we are now entering the final stages of the spin-off process," said Tom Hemingway, Chairman and CEO of eSynch Corporation. "We will continue to update the market as more information is available."
About eSynch
eSynch Corporation (http://www.esynch.com), founded in 1994, is a holding company for software development companies who design solutions for a myriad of business applications.
Safe Harbor
Statements herein express management's beliefs and expectations regarding future performance and are forward-looking and involve risks and uncertainties, including, but not limited to, the ability to negotiate outstanding prior debts of acquired companies; properly identify acquisition partners; adequately perform due diligence; manage and integrate acquired businesses; react to quarterly fluctuations in results; raise working capital and secure other financing; respond to competition and rapidly changing technology; deal with market and stock price fluctuations; and other risks. These are and will be detailed, from time to time, in eSynch's Securities and Exchange Commission filings, including Forms 10-KSB, 10-QSB and 8-K. Actual results may differ materially from management's expectations.
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