/C O R R E C T I O N -- Circle Group Holdings, Inc./
02 Dezember 2005 - 2:05PM
PR Newswire (US)
In the news release, Circle Group Holdings (Amex: CXN) Announces
George Foreman to Market Z-Trim Zero Calorie Fat Substitute
Ingredient, issued yesterday, Dec. 1, by Circle Group Holdings over
PR Newswire, we are advised by the company that the Forward-Looking
Statements were omitted inadvertently. Complete, corrected release
follows: MUNDELEIN, Ill., Dec. 1 /PRNewswire-FirstCall/ -- Circle
Group Holdings, Inc. (AMEX:CXN), makers of Z-Trim(R) zero calorie
fat replacement ingredient, today announced a new partnership with
George Foreman Enterprises, Inc. (GFME.OB), the lifestyle brand
company created to harness and leverage the George Foreman brand
name, to promote and market Z-Trim to major food companies, QSR and
restaurant franchises, the health and wellness community and the
consumer market. The transaction is the first venture announced for
George Foreman Enterprises, Inc. since their launch last August.
"Today's agreement with Circle Group is the perfect way to kick
start our new venture as this deal will help us begin to actualize
our vision of creating a lifestyle brand empire based on health,
fitness, quality and the embodiment of the American dream," said
George Foreman, Co-Chairman of George Foreman Enterprises. "Z-Trim
is designed to help people lead healthier, more active lives, and
that is exactly what George Foreman Enterprises was created to do.
As everyone knows, I love to find terrific products that everyone
doesn't know about just yet. Z-Trim is my new secret, and I am
looking forward to working toward turning it into another national
treasure." Z-Trim, which was developed by Dr. George Inglett, a
leading scientist at the USDA's Agricultural Research Service, and
then exclusively licensed by the U.S. government to Circle Group's
subsidiary FiberGel Technologies, is a natural zero-calorie
fat-substitute that can be made from the hulls of corn, oats, soy,
rice, or barley. The product lowers calories and fats by 25% to 50%
in most foods without negatively affecting taste or texture. "After
years of research and development, we have unquestionably proven
that Z-Trim(R) can substantially reduce harmful trans and saturated
fats and add healthy insoluble and soluble dietary fiber which can
be beneficial to heart patients and diabetics," commented Dr.
Inglett. "As our nation's obesity crisis continues to mount, we
believe Z-Trim can be a powerful tool in helping people to lead
more healthy lifestyles, particularly as the product can improve
digestion without any of the negative side effects sometimes
associated with other fat substitutes." Z-Trim, which is being
marketed both as an ingredient brand to major food companies and
restaurants, and as a product sold directly to consumers, is
anticipated to receive a welcome response from both of those key
audiences as it generally can't be detected when formulated
correctly in dairy, dressings, dips, sauces, baked goods, processed
meats, snack foods, cookies, pies, cakes, icings, brownies, bars,
ice cream, milk shakes and many other foods. "With an unprecedented
track record of successful salesmanship, we are honored that George
and George Foreman Enterprises have chosen to help bring Z-Trim to
the public consciousness, with the ultimate goal of improving the
health of people everywhere over time," said Greg Halpern, CEO of
Circle Group Holdings. "This is sure to be a welcome addition to
the current ingredient brands available to the major restaurants
and food companies, and a terrific zero-fat product option for
consumers, particularly as our nation continues to struggle with
its expanding waistline." Highlights of the new venture include: --
George Foreman Enterprises and Circle Group Holdings will form a
jointly owned limited liability company for the specific purpose of
promoting Z-Trim. This LLC will have the rights to use George
Foreman's name and likeness to promote Z-Trim. -- George Foreman
Enterprises shall have the right, subject to Circle Group Holdings'
shareholder approval, after performing certain marketing and media
activities, to convert its interest in the LLC into up to 50% of
the then outstanding shares of Circle Group Holdings. -- The
venture contemplates a targeted and intensive media campaign,
spearheaded by George Foreman, including multiple print media,
national network, cable television, and radio appearances. --
George Foreman has a personal policy of only endorsing products
that he strongly believes are highly beneficial to the public. In
line with this policy, and owing to George's strong personal belief
that Z-Trim is the right product at the right time, the agreement
is an equity based partnership rather than a straight cash
endorsement deal. About George Foreman Enterprises, Inc. In August
2005, George Foreman Enterprises, Inc. entered into a series of
definitive agreements with former world heavyweight boxing champion
George Foreman allowing the company exclusive future use of his
name, likeness, and personal services through the assignment of his
intellectual property. The company is designed to leverage the
assets of one of the most powerful celebrity athlete brands of all
time. George Foreman Enterprises, Inc. will exclusively handle all
future business developments related to new uses of George
Foreman's intellectual property and prospective licensing
agreements. See also http://ztrim.com/gfme.html . The company seeks
to maximize the George Foreman name through licensing, join
ventures and/or the acquisition of operating companies. Prior to
August 2005, George Foreman Enterprises was known as Musicmaker.com
and then MM Companies. About Circle Group Holdings, Inc. Circle
Group Holdings, Inc. (http://crgq.com/ ) is a pioneer of emerging
technology companies. Circle Group Holdings provides small business
infrastructure, funding and substantial intellectual capital to
bring important and timely life-changing technologies to market
through all early phases of the commercialization process. FiberGel
Technologies, a wholly owned subsidiary of Circle Group Holdings,
owns the worldwide rights to Z-Trim for all fields of use. Invented
over many years by Outstanding Senior Research Scientist Dr. George
Inglett at the United States Department of Agriculture, Z-Trim is
protected by three issued U.S. and International patents with more
than 54 additional patents pending. Circle Group Holdings' press
releases are available at
http://www.crgq.com/HTML/breakingNews.html About Z-Trim(R) Z-Trim,
(http://ztrim.com/) is a natural zero-calorie fat substitute made
from the hulls of corn, oats, soy, rice, or barley that lowers 25%
to 50% of calories from fats in most foods without negatively
affecting taste or texture. Z-Trim generally can't be detected by
consumers when formulated correctly in dairy, dressings, dips,
sauces, baked goods, processed meats, snack foods, cookies, pies,
cakes, icings, brownies, bars, ice cream, milk shakes and many
other foods. It improves texture significantly; makes meats
juicier, baked goods moister, dips creamier. Z-Trim lets you to eat
more of the foods you love without fear of weight gain and allows
you to lose weight without giving up the foods you love. Z-Trim
adopts the flavor and mouth feel of most recipes and reduces
aftertaste in most foods. It has been proven in studies that a
majority of consumers prefer Z-Trim foods to their full-fat
counterparts. Z-Trim can substantially reduce harmful trans and
saturated fats and adds healthy insoluble and soluble dietary fiber
which can be beneficial to heart patients and diabetics. Z-Trim can
improve digestion without any negative side effects sometimes
associated with other fat substitutes. Z-Trim has been featured on
Fox News "Your World w/ Neil Cavuto"; USA Today, Chicago Tribune,
as well as local affiliates of NBC, FOX and CBS. Forward-Looking
Statements and Risk Factors Statements made in this news release
that relate to future plans, events or performances are
forward-looking statements. Any statement containing words such as
"believes," "anticipates," "plans," or "expects," and other
statements which are not historical facts contained in this release
are forward-looking, and these statements involve risks and
uncertainties and are based on current expectations. Consequently,
actual results could differ materially from the expectations
expressed in these forward-looking statements. Reference is made to
the Company's filings with the Securities and Exchange Commission
for a more complete discussion of such risks and uncertainties. In
addition to the risks and uncertainties previously outlined in the
Company's filings with the Securities and Exchange Commission, the
George Foreman Enterprises joint venture poses an additional risk
of dilution to the Company's shareholders. Under the terms of the
joint venture, while the milestones that allow George Foreman
Enterprises the right to acquire the Company's common stock are
performance-based and require George Foreman Enterprises to
actually perform promotional activities, the milestones are not
necessarily results-oriented. Therefore, if the promotional efforts
of George Foreman Enterprises do not result in increases sales of
Z-Trim, it is possible that George Foreman Enterprises could own
one-half of the Company without the Company's other shareholders
having achieved any actual economic benefit in terms of increases
revenues, profits or assets. Contact: Steve Cohen Voice:
847-549-6002 Email: DATASOURCE: Circle Group Holdings, Inc.
CONTACT: Steve Cohen of Circle Group Holdings, Inc.,
+1-847-549-6002, Web site: http://ztrim.com/gfme.html
http://crgq.com/
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