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Press Release Source: SaVi Media Group, Inc.
SaVi Media Group Retains Two Top Leading Executives and Restructures Assets to
Enhance Shareholder Value
Anaheim, Ca - Tuesday March 8, 6:03 am ET
Press Release Source: SaVi Media Group
ANAHEIM, Calif.--(BUSINESS WIRE)--March 8, 2005--SaVi Media Group (OTC:SVMI - News) hired
on Steve Botkin as its Chief Information Officer (CIO) and Steve Sperrazza as Executive Vice
President over Corporate Finance Strategy to revamp the company's infrastructure.
Mr. Botkin will oversee the SaVi Media Group's Information Systems where he will be
responsible for the development of the company's Information Technology and Public
Relations departments. Before coming to the company Steve Botkin served his tenure
as President and Chief Information Officer (CIO) of Flight Crew Services, a leading
global provider of Informational Services for the relocation of airline flight crews
around the world.
Mr. Sperrazza will oversee the company's Corporate Finance Strategy and develop Capital
Recruitment, Marketing, and Sales departments. Sperrazza has over 15 years of financial
experience as a Wall Street executive. As the former President and CEO of Allrich,
Alexander & Co., an Institutional Investment Banking firm, Sperrazza was responsible
for negotiating multi-million dollar investments and pension plans. Through his pioneering
vision, he was able to fund several billion dollars in Municipal Bond deals.
Newly hired executives, CIO Steve Botkin and Exec VP Steve Sperrazza first call to action
was to revamp the Company infrastructure, through various negotiations, reacquire 195
million shares of SaVi stock, which was put back into the Company treasury, as well as
implementing the elimination of the initial $50 million note owed to H.D.V., Inc. SaVi
Media Group's total outstanding shares have now been reduced from 293 million shares,
down to 98 million shares.
This was set in motion in order to better position the company for future growth as
well as to enhance shareholder value. It was agreed by the corporate founders Dr.
Mario Procopio and Serge Monros, to reacquire 195 million shares back into the
company treasury. Serge Monros signed an agreement also to acquire an equity
position of an additional One-Million shares of preferred stock in place of the $50
million debt that SaVi Media Group incurred from patents being assigned over to the
company.
Dr. Mario Procopio is quoted as stating, "Both Serge Monros and I are committed to the
long-term growth and success of SaVi Media Group. It is our belief that the opportunity
and prosperity of our shareholders and affiliates takes top priority in our company and
venture."
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Contact:
SaVi Media Group, Inc.
Dr. Mario Procopio, 800-916-5420
Mario.Procopio@SaViMediaGroup.com
SaViMediaGroup.com
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