COPPELL, Texas--Nov. 3, 1999-- TST/Impreso, Inc. (Nasdaq National Market: ``TSTI''), a leading manufacturer and distributor of paper and film hard copy imaging products for commercial and home office applications, and owner of the successful HotSheet.com® online web reference directory, today announced that its Board of Directors voted to submit to its stockholders a proposal to create a parent holding company, Impreso.com, Inc., and a sibling subsidiary, HotSheet.com, Inc.
Under the proposal which includes a merger, the shareholders of TST/Impreso, Inc. will receive shares in Impreso.com, Inc., and Impreso.com, Inc. will hold shares of TST/Impreso, Inc. A majority of the ownership of HotSheet.com, Inc., which will own as its primary asset the HotSheet.com directory, will be transferred at a later date from TST/Impreso, Inc. to Impreso.com, Inc.
``We are excited about the increasing number of visitors to HotSheet.com, which currently receives more than 10 million hits and is being accessed 2.5 million times by over 500,000 users each month,'' stated Marshall Sorokwasz, President and Chief Executive Officer of TST/Impreso, Inc. ``The creation of the holding company, Impreso.com Inc., represents the initial step by management to maximize shareholder value of the HotSheet.com site. Management believes that a holding company structure will not only benefit our shareholders, but it will allow the companies greater flexibility in future dealings with the investment community.''
Established in October 1995, HotSheet.com has focused on providing users an easy method to get to the most popular sites on the World Wide Web. The main directory is a well-organized single page featuring over 600 carefully selected links in more than 20 major categories. ``In the early days of the Web we used HotSheet.com to increase brand awareness of our Impreso paper products,'' explained Sorokwasz. ``As usage increased and the Web evolved, we found that we had the potential to create a valuable shareholder asset by developing revenues through advertising and sales commissions.''
Additional services provided by HotSheet.com include: Hot Sheet Super Search, a metasearch service that combines results from multiple web search engines and ranks the results by relevance; my.HotSheet, a new service that lets users create their own personalized page of categorized favorite links; the recently introduced HotSheet Search Portal, which provides direct input to many leading search engines; and SHOPsheet.com, a quick loading page which contains only the shopping links found on the main HotSheet.com directory.
TST/Impreso, Inc. is a manufacturer and distributor of hard copy imaging products for commercial and home use in domestic and international markets. The Company also owns and manages HotSheet.com, a single-page, online Internet directory with categorized links to premier web destinations. Headquartered in Coppell, Texas (Dallas/Ft. Worth metroplex), TST/Impreso operates three manufacturing plants and distributes its products through 47 warehouse locations. The Company's website domains are www.hotsheet.com, www.impreso.com, www.shopsheet.com, and www.tstimpreso.com.
The common stock of TST/Impreso, Inc. is traded on Nasdaq's National Market System under the symbol ``TSTI''.
This press release may include statements that constitute ``forward-looking'' statements, usually containing the words ``believe'', ``estimate'', ``project'', ``expect'' or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products in the marketplace, competitive factors, new products and technological changes, paper prices and raw material costs, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
For further information, please contact:
Marshall Sorokwasz at (972) 462-0100 (ext. 103)
or
R. Jerry Falkner, CFA, Investor Relations Counsel at (800) 377-9893
TST/Impreso
Marshall Sorokwasz, President and CEO
972/462-0100
or
R.J. Falkner & Co.
R. Jerry Falkner, Investor Relations
800/377-9893
www.rjfalkner.com