Collegiate Funding Services, Inc. Stockholders Approve Merger Agreement
28 Februar 2006 - 5:38PM
PR Newswire (US)
FREDERICKSBURG, Va., Feb. 28 /PRNewswire-FirstCall/ -- Collegiate
Funding Services, Inc. (NASDAQ:CFSI) has announced that at a
special meeting the stockholders of the company voted today to
adopt the merger agreement providing for the acquisition of the
company by JPMorgan Chase Bank, National Association, a subsidiary
of JPMorgan Chase & Co. (NYSE:JPM). (Logo:
http://www.newscom.com/cgi-bin/prnh/20050714/DCTH039LOGO ) The
number of shares voting to adopt the merger agreement represents
approximately 99.9 percent of the shares voting on the matter, and
90.4 percent of the total number of shares outstanding and entitled
to vote. The proposed merger is expected to be completed on March
1, 2006. About Collegiate Funding Services Collegiate Funding
Services is a leading education finance company dedicated to
providing students and their families with the practical advice and
loan solutions they need to help manage and pay for the cost of
higher education. Collegiate Funding Services also offers a
comprehensive portfolio of education loan products and services --
including loan origination, loan servicing and campus-based
scholarship and affinity marketing tools -- to the higher education
community. As of December 31, 2005, Collegiate Funding Services had
facilitated the origination of more than $23 billion in education
loans and was servicing $11 billion in student loans for more than
432,000 borrowers. For additional information, visit
http://www.cfsloans.com/ or call 1-888-423-7562. Forward-Looking
Statements This news release includes "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These "forward-looking statements" may include, but are
not limited to, information contained herein relating to the
proposed merger and the contingencies and uncertainties of
Collegiate Funding Services and to which Collegiate Funding
Services may be subject, as well as other statements including
words such as "anticipate," "believe," "plan," "estimate,"
"expect," "intend," "will," "should," "may," and other similar
expressions. Such statements are made based upon management's
current expectations and beliefs concerning future events and their
potential effects on the company. Among the key factors that may
have a direct bearing on the company's operating results,
performance or financial condition are changes in terms,
regulations and laws affecting student loans and the educational
credit marketplace; and changes in general economic conditions.
Important factors that could cause the company's actual results to
differ materially from the forward-looking statements the company
makes in this release are set forth in the company's filings with
the Securities and Exchange Commission, including in the section
entitled "Risk Factors" in the company's Quarterly Report on Form
10-Q for the Quarter Ended September 30, 2005. The company
undertakes no obligation to update or revise forward-looking
statements which may be made to reflect events or circumstances
that arise after the date made or to reflect the occurrence of
unanticipated events unless the company has an obligation to do so
under the federal securities laws. First Call Analyst: FCMN
Contact: http://www.newscom.com/cgi-bin/prnh/20050714/DCTH039LOGO
http://photoarchive.ap.org/ DATASOURCE: Collegiate Funding
Services, Inc. CONTACT: Media: Ann Collier, Senior Vice President,
Corporate Communications, +1-540-368-5970, , or Investors: Gary
Tiedemann, Vice President, Investor Relations, +1-540-735-1235, ,
both of Collegiate Funding Services, Inc. Web site:
http://www.cfsloans.com/
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