The Project Group Rated 'Speculative Buy/4' by Investrend Analyst Piyali Chakravarty


NEW YORK, May 12, 2004 (PRIMEZONE) -- (Investrend Research Syndicate) The Project Group, Inc. (OTCBB:PJTG) has been rated "Speculative Buy/4" by Investrend Research analyst Piyali Chakravarty, in an initiating report.

"The Project Group's field-proven business model, seasoned management team, impressive array of Fortune 1000 companies such as Wal-Mart Stores (NYSE:WMT) and Kerr McGee (NYSE:KMG) to its client list, and increase in consulting revenues are positives for the company. The Project Group's status as Microsoft (Nasdaq:MSFT) Gold Certified Partner and Microsoft Managed Partner is expected to enhance the company's competitive position in the Enterprise Resource Planning (ERP) and consulting industry."

Meanwhile, Chakravarty said the company is carrying negative working capital, negative operating cash flow and negative stockholders equity, and operating losses are increasing; although it expects to generate positive earnings by the third quarter of this year.

"Management believes it can double revenues from 2004 to 2005, from $6 million to over $12 million. Although enterprise software is only the fourth or fifth largest segment of Microsoft's business, it is the fastest growing. The Project Group is rapidly growing into one of the world's leading integrators of Microsoft Project Software and related products," she said.

The company has developed modules to address the five fastest segments of project management: 1) Enterprise Improvement, 2) Product Development Constant business innovation by companies, 3) Connect - Collaborative Commerce, 4) Post-Merger Integration, and 5) Launching New Ventures.

"Management believes that its strategic plan, including proprietary methodologies, technology and infrastructure is highly modular and easily scalable for its Fortune 500 clients, who depend on rapid, accurate execution," concluded Chakravarty. "But we would not expect to see any concrete evidence of marked improvement in The Project Group's operating performance until the third quarter of this year."

The complete report is at http://www.investrendresearch.com.

The company is enrolled in Investrend Research's pioneering professional research program, which facilitates independent financial coverage for shareholders in companies that otherwise would have little or no analyst following. Enrollment fees for Institutional coverage are $28,300, and the fees are being paid by the company. Analysts are paid in advance of initial reports by Investrend Research to eliminate pecuniary interest, and neither the analyst nor anyone associated with Investrend Research may own or trade in the stocks of a company under coverage.

The analyst's credentials are at http://www.investrend.com/articles/secondlevel.asp?level=238 . Complete information about any company enrolled in an Investrend shareholder empowerment platform is available at the company's InvestorPower page at http://www.investrend.com/company/list.asp?sPathParam=yes , and investors are advised to read those disclosures carefully before trading in the equities of any enrolled company.

Anyone interested in receiving alerts regarding The Project Group research should email contact@investrend.com with "PJTG" in the subject line.



            

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