SOURCE: Coastal Services Group

June 27, 2005 06:30 ET

Coastal Services Group Begins Trading as CSVG

FALLS CHURCH, VA -- (MARKET WIRE) -- June 27, 2005 -- Coastal Services Group, Inc. (OTC: CSVG), a provider of telecommunications and related services to Africa as well as unique communications services to African immigrants in the United States, recently began trading on the OTC Pink Sheets under the ticker symbol CSVG.

Founded in 2003 and headquartered in Falls Church, Virginia, Coastal Services Group currently offers voice and data services tailored to the needs of African consumers and plans to develop its existing services to become a leader in the provision of telecommunications and related services to ethnic African groups both in and between the United States and Africa. The company has been in revenue-generating operations for six months.

Coastal's primary offering in the United States is a telephone calling card dubbed "Talk Afrika" (please visit www.TalkAfrika.com), which uses toll-free access to call any country in the African continent at highly competitive rates. Coastal has agreements in place that will allow it to expand these calling services with a range of options, including an SMS (mobile phone Short Message Service) callback service, in the near future.

African immigrant families in the United States spend an average of $20 per month on calls to Africa, a market Coastal is reaching with an affinity marketing campaign that provides program affiliates (churches, community associations, etc.) with recurring commissions from product sales. Coastal's products are delivered using a well-established global calling card platform provider in the United States, and a custom-designed order processing and product management system.

In Africa, Coastal is an Internet Service Provider (ISP), and under its national voice and data services license in Liberia, it provides the branded broadband wireless services PrimeTime Direct™ and PrimeTime Wireless DSL™, which serve a market segment that otherwise only has access to low data rate or poor quality connections. Coastal plans to launch a voice service later this year.

In addition to telecommunications services, Coastal is currently negotiating for the supply of a pre-paid debit card which it intends to market to lower income groups in the United States for the transfer of funds between cardholders, enabling inexpensive and secure international remittances.

About Coastal Services Group

Coastal Services Group, Inc. (OTC: CSVG) provides telecommunications and related services to Africa as well as unique communications services to African immigrants in the United States. For additional information about the company, please visit www.coastalservicesgroup.com or email investor@coastalservicesgroup.com.

Legal Notice Regarding Forward-Looking Statements: "Forward-looking statements'' as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. Coastal Services Group disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions, actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services, and changes in our business strategies.

Contact Information

  • Investor Contact:
    Jesus Rodriguez
    305.776.4535