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Press Release: RS Group of Companies, Inc.
November 22, 2004
TORONTO, ON -- (OTCBB:RSGC; the "Company"), a provider of pass-through risk specialty insurance and reinsurance
products, announces financial results for its fiscal 2004 third quarter ending September 30, 2004. The Company
earned a net profit of $3,170,722, or $.05 per diluted share, on revenues of $7,481,682 for the quarter.
The Company further reiterates guidance for its fiscal year ending December 31, 2004 of over $2,000,000 in net
earnings. Commenting on the Company's latest results, CEO John Hamilton stated, "Our current cash position
increased to more than $4,000,000 due to strength in our brokerage segment. We continue to execute our business
plan, as two sizeable customers have signed up with VGV, our timeshare value guarantee program. I am confident
that we are fully funded and poised to achieve further milestones in our other operating segments."
The Company is structured as a holding company for an integrated group of businesses that operates in four distinct
operating segments: residential rental guarantee, timeshare value guarantee, financial guarantee, and specialty
insurance brokerage.
About RS Group of Companies, Inc.
RS Group of Companies, Inc. (http://www.rsgc.com) has developed
and is implementing a strategy to design, structure and sell a broad series of pass-through risk specialty insurance
and reinsurance platforms throughout North America. In November 2003, through its wholly owned subsidiaries, the
Company introduced its core pass-through risk solution, RentShield(TM) (http://www.rentshield.com),
a Residential Rental Guarantee Program being offered to North America's $300 billion residential real estate rental
market. It is estimated that there are over 38 million rental units in the United States and Canada. Rental Guarantee
was first developed in Finland to provide surety to residential property developers and is being used as an extremely
effective marketing tool in the United Kingdom for the buy-to-let market. It protects investments in the rental
units by receiving a guaranteed income on a certain timeline.
Forward-Looking Statement
Statements included in this press release which are not historical in nature, are intended to be, and are hereby
identified as "Forward Looking Statements" for purposes of safe harbor provided by Section 21E of the
Securities Exchange Act of 1934, as amended. Forward Looking Statements may be identified by words including "anticipate",
"await", "envision", "foresee", "aim at", "believe", "intends",
"estimates" including without limitation, those relating to the Company's future business prospects,
are subject to certain risks and uncertainties that could cause actual results to differ materially from those
indicated in the Forward Looking Statements. Readers are directed to the Company's filings with the U.S. Securities
and Exchange Commission for additional information and a presentation of the risks and uncertainties that may affect
the Company's business and results of operations.
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Contact:
RS Group of Companies, Inc.
Patti Cooke, 416-391-4223, ext. 4084
info@rsgc.com
Source: RS Group of Companies, Inc.