SOURCE: Equus Resources, Inc.

October 26, 2006 10:30 ET

Equus Resources Announces Agreement With Major Education Company

ATLANTA, GA -- (MARKET WIRE) -- October 26, 2006 -- Equus Resources, Inc. (PINKSHEETS: EQUR) ("Equus" or the "Company") announced today that it has signed a definitive agreement with Best Practices Networks, Inc. ("BPN") to merge BPN's early learning business ("Early Learning") into the company which will also own the education operations of Equus pursuant to the proposed spin-off transaction announced earlier this year. BPN and Equus have formed a true partnership and will share equally in the initial ownership of the new company, to be named Global Education Partners Incorporated ("GEP").

The centerpiece of Early Learning is an extensive software and workbook series designed for children ages 3-10 featuring the world renowned cartoon character Garfield®. The 18 product series is available in 26 languages and provides foundation building instruction in math, science, writing, reading and critical thinking.

As part of the agreement, Bernie Rice, the Executive Chairman of BPN, will become Chairman and CEO of GEP and will also remain BPN's Executive Chairman. Bernie Rice was in senior management with IBM for 24 years, attaining the positions of CFO of the $3 billion+ Southern Region and a Vice President of IBM Business Development. Among other functions, he managed IBM's partnership with Worldbook and Crayola for development of its breakthrough online research and learning platform. Bernie also served as CEO of Edmark, Inc., a large IBM subsidiary corporation which developed innovative educational software for kids. He orchestrated the successful spin-off of IBM's education content assets into Riverdeep, Inc., after which he became the Executive VP of Riverdeep. Bernie was a vital part of Riverdeep's explosive growth, helping it to become one of the fastest growing software companies in the United States. Today Riverdeep has education products in 45,000 schools in over 20 countries. Three years ago, Bernie left Riverdeep and co-founded BPN with Deborah Bond-Upson, a skilled and highly credentialed education executive with over 25 years senior management experience with well-known education companies, including Kaplan, Inc., the worldwide leader in educational services. Under the direction of Deborah and Bernie, BPN has become a leading innovator of easy-to-use online learning technology for K-12 students; adult career education students; teachers, administrators and other faculty; and school districts and individual public and private schools.

In making this announcement, Randy Harris, President of Equus, commented: "One of our visions has been to make a difference in the world. The addition of BPN's early learning program and Bernie Rice makes this dream come true. One of my strongest beliefs is that together we are what we could never be alone, and combining our education business with BPN's early learning business will make this belief a reality."

Randy added: "This transaction should create significant value for all Equus stockholders who own Equus stock when the spin-off is completed."

Bernie Rice stated: "I am truly excited about the synergies between BPN and Equus. This partnership allows a dedicated marketing focus on our early learning programs and the ability to undertake global partnerships in this rapidly-growing e-learning segment. The Garfield early learning series makes learning fun and kids absolutely love it. Our goal is to make our products the premier early learning tool worldwide."

The merger of the education operations into GEP and the commencement of trading in the new company are anticipated to occur within the next 45 days.

About Equus

Equus is a diversified financial and education services company offering its clients a broad range of real estate, financial and education services, mainly in Georgia and Florida. Equus plans to expand its core businesses and areas of operation through internal growth and acquisitions and to add related lines of business as demand dictates. Our principal offices are in Atlanta and Jacksonville. For more information on Equus, please visit www.equusresources.com. For more information on BPN, please visit www.bpn.net.

Forward-Looking Statements:

Any statements made in this press release which are not historical facts contain certain "forward-looking statements," as such term is defined in the Private Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the Company to which this release pertains. The actual results of the specific items described in this release, and the Company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgment of management of the Company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties, including, without limitation, the Company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, the receipt of revenues, and other factors, many of which are beyond the control of the Company.

Contact Information

  • Contact:
    Randy Harris
    President
    (888) 421-8326
    (770) 442-2364