Options Talent Group Announces Share Repurchase Program

Share Repurchase Program to begin imminently

LOS ANGELES--(PRWEB)--July 30, 2002--Options Talent Group (OTCBB: OPTG - News), a leading service provider to the Entertainment and Advertising industries, announced today that it was initiating a program of selective repurchase of its own common shares.

Details

Mark Tolner, President, said, Our Board of Directors believes that the current share price of the Company is not reflective of the shareholder value that we are creating and we are therefore within the next seven days embarking on a program to purchase shares in the open market in order to return them to treasury". He went on to say that, The extent of the repurchase program will be dictated by the share prices that we are able to obtain but at this stage it is set to continue for an indefinite period or until we have expended $100,000."

Options Talent reported revenues increased 488 percent to $7.18 million verses $1.47 million in the third quarter of fiscal 2001. Income from operations totaled $385,000 compared to a loss in the prior third quarter period. Net Income equaled $619,000, including a one-time gain of $234,000 from the disposal of a subsidiary, compared to a loss in the year-ago period.

About Options Talent, Inc. (subsidiary company -- www.optionstalent.com)

Options Talent, Inc, based in Orlando, Florida, is at the forefront of one of the changes affecting the entertainment and advertising industries as they move into the 21st century. Through the use of its technologies and resource database, industry users and their talent suppliers are able to easily access available project resources, increasing their efficiencies and effectiveness.

Forward-Looking Statements

Statements made in this press release, other than those concerning historical information, should be considered forward-looking and subject to various risks and uncertainties. Such forward-looking statements are made pursuant to the 'safe-harbor' provisions of the Private Securities Litigation Reform Act of 1995 and are made based on management's current expectations or beliefs as well as assumptions made by, and information currently available to, management. There can be no assurance as to future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from estimates or projections contained in forward-looking statements include: (i) the effects of vigorous competition in the markets in which Options Talent operates; (ii) the cost of entering new markets necessary to provide products and services; (iii) the impact of additional costs due to adjustments from ongoing evaluations of Options Talent's business strategies; (iv) unexpected results of litigation filed against Options Talent or its subsidiaries; (v) the possibility of one or more of the markets in which Options Talent competes being affected by variations in political, economic or other factors such as monetary policy, legal and regulatory changes or other external factors over which Options Talent has no control; (vi) changes in the pricing policies of the Company or its competitors; (vii) increased competition; (viii) technological changes in computer and telecommunications systems and environments; (ix) the Company's ability to timely develop, introduce and market new products and services; (x) the Company's quality control of products and services sold; (xi) personnel changes; (xii) general economic conditions; and (xiii) such risks and uncertainties as are detailed form time to time in the Company's reports filed with the Securities and Exchange Commission.

Contact:

     Options Talent Group. (www.optionstalent.com)
     Mark Tolner, President