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CONTACT: Steven B. Solomon, President & CEO CT
Holdings, Inc. 214-521-3443
p 214-520-0034
f CT
HOLDINGS ANNOUNCES ITS PRO RATA PARTICIPATION IN GUARANTEE OF PARAGO'S $8
MILLION BRIDGE FINANCING CT ALSO ANNOUNCES STEVE SOLOMON WILL SERVE AS CHAIRMAN FOLLOWING VICTOR KIAM'S PASSING Dallas,
TX…June 19, 2001 -- CT Holdings, Inc. (OTC BB: CITN) today announced
that it has participated in the guarantee of Parago's recent $8 million
bridge financing with Comerica Bank -- Texas that was initially guaranteed
by TH Lee.Putnam Internet Partners, LP.
CT Holdings has funded its pro rata portion of the required initial
contribution to the guarantee escrow account.
The terms of the participation interest are described in our
Quarterly Report on Form 10-QSB for the quarter ended March 31, 2001. "We
are pleased to announce that we have funded our pro rata portion of the
guarantee's initial escrow amount related to the bridge financing that
Parago recently obtained. We
remain pleased about Parago's business prospects and believe that Parago's
client value proposition is compelling, its technology is being well
received, and its client list continues to grow," commented Steven B.
Solomon, President and Chief Executive Officer of CT Holdings.
Mr. Solomon continued, "We continue to explore opportunities
related to our software line and potential investment transactions and we
are excited about the prospects and opportunities for CT and our
holdings." CT
Holdings also regrets to announce that its Chairman, Mr. Victor K. Kiam
II, has died. Steven Solomon
stated, "Victor was a great friend of the Company and to me
personally. We will miss his
business and personal contributions and would like to express our sincere
condolences to his family." CT's
board will continue to include Larry Lacerte, Phil Romano, Chris A.
Economou, Mark Rogers and Dr. Axel Sawallich, with Steve Solomon now
serving as Chairman of the Board in addition to his duties as Chief
Executive Officer and President. About
CT Holdings CT
Holdings, Inc. (OTC BB: CITN) develops and markets its Citadel Technology
line of desktop and network security software, and also acts as a
developer of early stage companies, including Parago and River Logic. For more information on CT Holdings, our Internet holdings,
and our Citadel Technology line of security software products, please
visit our Web site at www.ct-holdings.com. About
Parago Parago's
patent-pending technology platform and processes represent an innovative
approach designed to improve the promotional marketing industry.
Parago provides a range of Internet-based customer relationship
management products, PromoCenterSM, ValueRewardsSM
and KnowledgeCenterSM, that are created to increase sales,
reduce costs, enhance customer retention for its clients, and improve
loyalty. These products comprise Parago's Continuous Customer InteractionSM
model, which helps retailers, manufacturers and service organizations
reduce the cost of conducting promotions and drive incremental revenue by
cross-selling and upselling new products and services.
During the relationship management process, Parago captures fresh,
accurate, and usable transaction and buyer demographic data that can be
used by its clients to improve their promotional marketing programs.
Parago maintains a web site at www.parago.com. About
River Logic River Logic, Inc. develops decision-support applications
for industry. Using COR Technology(TM), a rapid-application development
system, developers at River Logic create applications that enable industry
professionals to model complex enterprises and explore financial
relationships on a desktop computer or laptop. Embedded analytics allow
end-users to understand the financial implications of critical business
decisions easily by manipulating graphical icons that model their
enterprise. Headquartered in Beverly, Massachusetts, River Logic is a
privately held corporation receiving venture capital support from Cardinal
Investment, Inc., CT Holdings (OTC BB: CITN), EBSCO CASIAS, eMed Ventures,
Intel Capital, and Mercury Ventures. As previously disclosed, in April 2001, River Logic
received an investment led by the Intel® 64 Fund. The Intel 64 Fund
investment was made in support of River Logic's commitment to port and
tune its Enterprise OptimizerTM software application to
Intel’s IA-64 platform, beginning with the ItaniumTM
processor. To learn more about River Logic, visit www.riverlogic.com,
call 978.753.5029, or email info@riverlogic.com. For
more information on CT Holdings, its Internet subsidiaries, and its
Citadel Technology line of security software products, please visit our
Web site at http://www.ct-holdings.com. For information on purchasing
products, contact us directly by writing or calling: CT Holdings, 3811
Turtle Creek Blvd., Suite 770, Dallas, Texas 75219; phone: 214/520.9292;
fax: 214/520.9293. Forward-Looking Statements: This news release contains forward-looking statements, which involve risks and uncertainties. Accordingly, no assurances can be given that the actual events and results will not be materially different that the anticipated results described in the forward-looking statements. Investors are also directed to consider carefully the other risks factors and uncertainties discussed in documents we file with the Securities and Exchange Commission, including our Quarterly Report on Form 10-QSB for the quarter ended March 31, 2001 and our Annual Report on Form 10-KSB for the year ended December 31, 2000. There are a number of important factors that could cause actual results to differ materially from those expressed in any forward-looking statement made by us. These factors include the availability of capital to CT Holdings; Parago and River Logic; substantial dilution in the event CT Holdings determines not to fully participate in the Parago bridge loan participation in the event the additional payments are required; risks related to our software business line; the activities of new or existing competitors; the ability to attract and retain employees and strategic partners; application of state unclaimed property or escheat laws; general economic conditions; and litigation costs. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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