SOURCE: JUPITER Global Holdings, Corp.

May 10, 2005 09:11 ET

JUPITER Global Holdings, Corp. Announces Plans to Spin Off Promo Staffing and Provide Stock Dividend to Shareholders

LAS VEGAS, NV -- (MARKET WIRE) -- May 10, 2005 -- JUPITER Global Holdings, Corp. (“JUPITER” or the “Company”) (OTC BB: JPHCE) today announces it has begun implementing plans to spin off Promo Staffing (www.promobusiness.com) as a separate public company and provide JUPITER shareholders with a stock dividend in Promo Staffing stock.

The record date for the dividend of Promo Staffing stock to JUPITER shareholders will be declared after the Company files Promo Staffing’s audited financial statements, which we expect to file in the upcoming weeks. All shareholders of JUPITER stock as of the record date will be entitled to receive the dividend. The ratio for the dividend will be determined by the Company and a notice of the ratio and any subsequent information and instructions will be provided to the shareholders accordingly.

JUPITER has always planned to develop its businesses and spin them off or out of its holding company structure. Major developments in the Promo Staffing business plan has led to an aggressive acceleration of its future spin off plans. Recently Promo Staffing has entered into discussions with a couple of major potential clients to handle promotional marketing all over North America, thus calling for a need to accelerate the capital acquiring for Promo Staffing. Management believes a separate public listing in the upcoming months would fulfill this need.

Our advisors have been working on this plan with the Company for the past few weeks and are in discussions on JUPITER’s behalf with several financing sources, investment bankers and public companies regarding the plan to take Promo Staffing public.

Cory Sklar, President & CEO of Promo Staffing, stated: “Once our audit is complete and filed, we look forward to working with JUPITER and their advisors to make us a separate public company. We feel this aggressive move is positive due to the fact that numerous opportunities have arisen in our industry that requires larger funding requirements and we think a separate listing will give us the best potential to help us attain our capital needs.”

Ray Hawkins, CEO of JUPITER, commented: “We believe our plan to develop our businesses and spin them out is one that will benefit our shareholders in numerous ways. Promo Staffing is an exciting company with tremendous growth potential and I feel owing a piece of Promo Staffing directly is something great for each shareholder and we look forward to doing this for them.”

The Company also wishes to notify shareholders that they should rest assured that the Company is working diligently to file its 10KSB Annual Report as soon as possible and upon filing the “E” will be removed subsequently allowing JUPITER to remain a OTC:BB company.

ABOUT PROMO STAFFING

Promo Staffing (www.promobusiness.com) is a promotional marketing company with clients such as Chrysler, AT&T, PepsiCo, Campbell’s Soup, Wal-Mart, Malibu Rum and Coca Cola.

ABOUT JUPITER GLOBAL HOLDINGS, CORP.

JUPITER Global Holdings, Corp. is a holding company with interests and developments in a diverse number of growing industries such as the VoIP telecom industry, promotional marketing industry and entertainment industry. JUPITER plans to achieve a leadership position through the building of a synergistic network of innovative, profitable and global businesses.

Statements contained herein that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. JUPITER Global Holdings Corp. intends that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements are based on current assumptions but involve known and unknown risks and uncertainties that may cause JUPITER Global Holdings Corp. actual results, performance or achievements to differ materially from current expectations. These risks include economic, competitive, governmental, technological and other factors discussed in JUPITER Global Holdings Corp. applicable public filings on record with the Securities and Exchange Commission which can be viewed at its website at http://www.sec.gov.

Please visit our website: www.jupiterglobal.net.

Contact Information

  • For more information please contact:
    Jupiter Global Shareholder Services
    Phone: 1.800.963.6532
    Email Address: jphc@4lfs.com