SOURCE: Distribution Management Services, Inc.

October 24, 2007 16:00 ET

Update: Distribution Management Services, Inc. ("DMGS") Announces Declaration of Special Dividend

NORTH MIAMI, FL--(Marketwire - October 24, 2007) - Distribution Management Services, Inc. (PINKSHEETS: DMGS) announced on October 17, 2007 that it had disclosed the definitive terms of a lucrative real estate transaction to the U.S. Securities and Exchange Commission on October 1, 2007. The agreement provided for the sale of 174 lots in Poinciana, Polk County, Florida to a designated purchaser in exchange for a payment to DMGS of $8,700,000 as a cash transaction.

The Board of Directors has determined that upon closing a $0.10 (ten cents) per share special dividend will be paid to its stockholders of record at the date of closing. Said special dividend shall be paid on January 4, 2008.

The terms of the transaction, that were fully disclosed to the SEC, permit the purchaser to perform certain due-diligence as to the property with the closing anticipated to occur on November 20, 2007. An appropriate an escrow has been deposited to bind the transaction.

Furthermore, it is to be noted that the release of October 19, 2007 contained the names of alleged parties representing to be involved in the transaction and associated with DMGS. These facts are wholly incorrect. Such parties were not and are not associated or affiliated in any manner with the transaction or with DMGS.

For further information, please call Leo Greenfield, President, Distribution Management Services, Inc. by telephone at (305) 893-9270 or by mail to DMGS' executive office at 11601 Biscayne Boulevard, Suite 201, North Miami, Florida 33181.

This release contains forward-looking information and DMGS seeks safe harbor for it statements pursuant to the Private Securities Litigation Reform Act of 1995.

Contact Information

  • Contact:
    Leo Greenfield
    President
    Distribution Management Services, Inc.
    11601 Biscayne Boulevard, Suite 201
    North Miami, Florida 33181
    (305) 893-9270