SOURCE: PRG Group, Inc.

June 12, 2007 08:03 ET

PRG Group Announces Record Annual Revenue Increase of 58% to More Than $3.8 Million

PISCATAWAY, NJ--(Marketwire - June 12, 2007) - PRG Group, Inc. (PINKSHEETS: PRGJ), a holding company for PRG Systems Inc. and Prime Communications Inc., is pleased to announce that gross revenues for fiscal year 2006 were $3,884,957, an increase of $1,396,242 (58%) over fiscal 2005.

The value of assets in 2006 increased by $2,024,259 (161%) over 2005, excluding the end-of-year acquisition of Prime, which will be included in the 2007 annual report. The balance sheet for 2006 financials can be found on the company website and will be available shortly at

"We followed a 35 percent revenue increase in 2005 with a 58 percent increase in 2006," said Uma Pandey, CEO of PRG Group. "The company's growth is both steady and substantial, and we are poised to do more than the market may previously have expected of us. Last year's success in particular made PRG an attractive company with which to do business -- both for clients and for prospective acquisitions.

"Closing the acquisition of Prime Communications in January brought Avaya products into our inventory, the quality of which is well-known in the telecom industry and clearly reflected in Avaya's price per share on the NYSE," Pandey continued. "Retailing Avaya products positions PRG for continued success. In fact, we have already surpassed our internal projections for 2007 in the first two quarters and have every expectation of maintaining the growth to which PRG is becoming accustomed."

Pandey reiterated the company's intention to release Q1 2007 financials in June and Q2 financials in August.

About PRG Group, Inc.:

PRG Group, Inc. is a holding company for PRG Systems Inc. and Prime Communications that have lines of businesses in the following areas: Consulting, Managed Services, Equipment, Network Services and Research & Development. PRG Group subsidiaries provide leading edge business support processes, technology and software to companies seeking to improve their cost structure, productivity and system efficiency. PRG Group has been recognized as a leader in designing integrated solutions for small, medium and large businesses. PRG Group, Inc. is a Delaware based corporation, with offices in New Jersey.

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Safe Harbor Statement:

Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Such forward-looking statements are based on the current beliefs of management and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, such as: the level of business and consumer spending, the ability of the Company to continue to expand its operations, the level of costs incurred in expansion efforts, and economic conditions in the industry. The Company does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.

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