Exhibit
99.1
For
More Information:
Joseph
Hassett
Gregory
FCA Communications
610-642-8253
JoeH@gregoryfca.com
For
Immediate Release:
a21
Announces Key Strategic Initiatives
Company
Implements Consolidation and Restructuring to Improve Profitability and Prepare
for Growth Initiatives
JACKSONVILLE,
Fl. — September 12, 2007 - a21, Inc. ("a21") (OTCBB: ATWO), a leading
online digital content marketplace, today announced an organizational
consolidation and restructuring as part of its strategy to move closer to
profitability and to better address emerging growth opportunities.
John
Ferguson, Chief Executive Officer of a21, said, “Our markets are at an
inflection point that is creating significant growth
opportunities. We are focusing our resources, talent and experience
to capitalize on this dynamic shift in our markets. It is important
that we free up resources and improve overall efficiency to bring us closer
to
profitability in the near term. By consolidating offices, reducing
costs, and reorganizing our team, we believe we will be better prepared to
launch exciting new growth initiatives and introduce new products we have
developed to meet the needs of a rapidly evolving market.”
Among
the
changes undertaken, the Company will consolidate ArtSelect’s administrative and
other business support positions from Fairfield, Iowa into the Company’s
Jacksonville, Florida headquarters. In addition, SuperStock’s team
will be reorganized to support the Company’s growth
initiatives. These changes are also expected to improve operational
efficiency, strengthen and streamline the organization, and better leverage
the
Company’s resources through a tighter integration of the operating
units.
Mr.
Ferguson continued, “We believe that these actions allow us to better serve our
customers, distributors and channel partners with innovative new product and
service development. I am confident in our dedicated team and in
their commitment to achieving our vision of profitable growth through industry
leadership. In the coming weeks, we expect to implement our growth
initiatives and outline our long-term vision. These plans are
designed to meet the creative needs of the marketplace and to create significant
value for our stockholders.”
Tom
Costanza, a21’s Chief Financial Officer, added, “The consolidation of our
administrative and business support infrastructure is expected to yield an
improvement of $1.0 million to annualized operating results and cash flows
as
well as improve operating efficiency by centralizing management and
operations. Additionally, we are studying our capitalization and debt
structure and hope to find ways to further improve our cash flows and
liquidity. We believe these operational improvements put the Company
in a much better position to accomplish this.”
About
a21
a21
(www.a21group.com) is a leading online digital content company. Through
SuperStock (www.superstock.com; www.superstock.co.uk; and
www.purestockx.com), and ArtSelect (www.artselect.com), a21
delivers high quality images, art framing, and exceptional customer service.
a21
and its companies, with offices in Florida, Iowa, New York City, and London,
we
provide valuable and viable choices to key business partners and customers
in
the stock image, art and wall decor industries.
The
statements contained in this press release contain certain forward-looking
statements, including statements regarding a21, Inc.'s expectations, intentions,
strategies, and beliefs regarding the future. All statements contained herein
are based upon information available to a21, Inc.'s management as of the date
hereof and actual results may vary based upon future events, both within and
without the control of a21, Inc.'s management.
Ex
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