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| Advanced Marketing Services Announces Termination of Book Supply Contract With Safeway Stores in U.K. |
SAN DIEGO, April 1 /PRNewswire-FirstCall/ -- Advanced Marketing (UK)
Limited announced today that it has received notice from Safeway Stores plc
terminating as of June 26, 2003 its contract to act as Safeway's sole supplier
of books and maps.
"Our service standards have never been higher and we continue to show
solid growth on a year-to-year basis," said Mike Kidd, AMS Vice President,
International, and Managing Director of AM (UK) Limited. "However, we were
unable to reach agreement with Safeway Stores for an on going contract."
AMS anticipates a charge of approximately $0.02 - $0.03 per share in the
quarter ending March 31, 2003 as a result of the write off of impaired
intangible assets associated with the Aspen Book Marketing business, which was
acquired by AMS in August of 2000. Aspen Book Marketing's sole customer was
Safeway Stores.
About Advanced Marketing (UK) Limited
Advanced Marketing (UK) Limited is a leading book wholesaler and
distributor servicing a number of key traditional and non traditional book
markets in the United Kingdom and Europe.
About Advanced Marketing Services
Headquartered in San Diego, California, Advanced Marketing Services, Inc.
(NYSE: MKT) is a leading global provider of customized wholesaling,
distribution and custom publishing services to the book industry. AMS provides
a full range of value-added services that provide its customers with book
buying advice and expert supply chain management, including advertising and
promotional support, to ensure the success of their book programs. AMS's
proprietary Vendor Managed Inventory (VMI) software is a unique tool that
allows its book specialists to efficiently and effectively manage global book
distribution systems for the benefit of its warehouse clubs and book store
customers. AMS has extensive operations in the U.S., Canada, Mexico,
Singapore, the United Kingdom and Australia and employs approximately 1,700
people worldwide.
Recent press releases on Advanced Marketing Services, Inc. are available
on both the Company's Website, http://www.advmkt.com , and on PR Newswire,
http://www.prnewswire.com .
Forward-looking statements in this news release are made under the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995.
All statements other than statements of historical fact are forward-looking
statements that involve risks and uncertainties. Certain important factors
could cause results to differ materially from those anticipated by the
forward-looking statements including factors discussed from time to time in
reports filed by the Company with the Securities and Exchange Commission.
For further information please contact: Investor Relations, Chuck
Williams, Director of Investor Relations of Advanced Marketing Services, Inc.,
+1-858-450-3545, chuckw@advmkt.com; or Media, Greg McQuerter or Tina Wilmott,
twilmott@mcquerter.com, both of The McQuerter Group, +1-858-450-0030,
ext. 140, for Advanced Marketing Services, Inc.
SOURCE Advanced Marketing Services, Inc.
back to topRelated links:
CONTACT:
investors, Chuck Williams, Director of
Investor Relations of Advanced Marketing Services, Inc.,
+1-858-450-3545, chuckw@advmkt.com; or media, Greg McQuerter or
Tina Wilmott, twilmott@mcquerter.com, both of The McQuerter
Group, +1-858-450-0030, ext. 140, for Advanced Marketing
Services, Inc.
