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 Spiderboy International Inc. Acquires ICS, Inc. (ICS)ATLANTA -- June 10, 2004 -- Spiderboy International Inc. (OTC Bulletin Board: SBYI.OB - News), a Minnesota public corporation, today announced that it has acquired ICS, Inc. (ICS), a Georgia corporation. The transaction was consummated as a private placement and the terms of the deal included a combination of cash and stock, to be earned and paid over the next three years. Spiderboy has recently re-launched to focus on the fragmented and underserved segment referred to as Integrated Infrastructure Support Services. Pending shareholder approval, Spiderboy will be renamed Charys Holding Company, Inc.(TM) ("Charys") through execution of an announced merger of the two entities. Charys, a Delaware corporation, will be the surviving entity after the merger. ICS was founded by two industry professionals, Mark D. Andrizzi and Robert G. Barrow Jr., who both have extensive experience in Professional Employer Organizations (PEO), insurance, investment banking, finance, business consulting and sales and marketing services. ICS provides complete Business Process Outsourcing (BPO) services for small to mid-sized businesses. In a splintered marketplace with no clear leader, ICS's service model is unique. While the services are outsourced for the client company, they will be provided by a team of extensively experienced professionals residing in the United States at offices located in major metropolitan markets. The corporate office and Atlanta service center are located in the Perimeter Center area of metropolitan Atlanta. "The ICS business model offers comprehensive functions, including business administration, payroll, tax, human resources, a complete array of business and health insurance, training, risk management, governmental compliance services as well as a full range of other business services and customer service that fully support any corporate entity," said Billy V. Ray, Jr., CEO, Charys Holding Company, Inc. "ICS is truly a complete one-stop superstore for business services and needs, with the emphasis on superior service and professionalism." Mr. Andrizzi has been designated as the Chief Executive Officer of ICS. He has worked in the PEO industry since 1997 in management positions, and was previously in the investment banking industry as managing partner. Mr. Andrizzi has extensive experience in finance, corporate structure and finance, sales and marketing, mergers and acquisitions, and wholesale and retail distribution of financial products and services. Mr. Barrow CIC, CPES has been designated as Chief Operating Officer of ICS. Mr. Barrow, President of Barrow Group, LLC, has specialized in workers' compensation since 1981. He was the driving force in the establishment of the first successful group association for the staffing industry. Mr. Barrow has also enjoyed considerable involvement in setting up creative loss-sensitive plans and has worked with hundreds of PEO's in the areas of risk management and assessment. ICS's temporary email address is ICSBPO@Charys.com. About Charys Holding Company, Inc. Headquartered in Atlanta, Georgia, Charys focuses on the fragmented and underserved segment referred to as Integrated Infrastructure Support Services. This segment varies widely in scope but is fundamentally focused on upgrading the underpinning and infrastructure of the telecommunication, cable, electric, and Internet industries serving consumers, businesses and government entities. Our principle strategy is to acquire through mergers and acquisitions companies that support this underserved segment. Charys will serve as a vehicle to provide individual business owners a unique opportunity to participate in effectively "going public," without the time, energy and expense of the process. The mission of the company will continue to be the acquisition of multiple companies into the public entity to better serve the Integrated Infrastructure Support Services market. NOTE: The names of actual companies and products mentioned herein may be the trademarks of their respective owners.Forward-looking statements in this release, including statements regarding management's expectations for future financial results and access to
capital markets, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that
these forward-looking statements regarding Charys Holding Company, Inc., its operations and its financial results involve risks and uncertainties,
including without limitation risks of accessing capital markets on terms acceptable to Charys, downturns in economic conditions generally and in the
telecommunications and data communications markets; risks in product development and market acceptance of and demand for Charys products; risks of
failing to attract and retain key managerial and technical personnel; risks associated with competition and competitive pricing pressures; risks
associated with investing in new businesses; risks related to intellectual property rights and litigation; risks in technology development and
commercialization.Contact: www.redninePR.com |
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