Company description::
Miami, FL - April 12, 2004 - GROWTH FUND PARTNERSHIP, INC. (“Growth”), a Miami based, privately owned, multi-billion dollar horizontally integrated financial services company, announced today that it has expanded into the United Kingdom. A new subsidiary, GFP (UK) Limited has been incorporated; the Company is based in London.
Growth Fund Partnership, Inc., is engaged in providing credit enhancement services worldwide. The Fund, a private corporation founded in 1981, owns a variety of debt free assets having an audited value of approximately US $11 billion dollars.
According to Jack Birnholz, President of Growth Fund, “We are extremely pleased with the expansion into the European Community through our Joint Venture emphasizing our “company without walls program”. This office, under the management of Growth’s joint venture partner, is expected to duplicate the services offered by the parent company and is consistent with our ongoing strategy of identifying and investing in companies which, we believe, have long-term potential for the benefit of our shareholders.” “We believe the UK office, in concert with the parent company, will now be in a position to open additional offices in strategic locations over Europe, Africa, and Asia.
The Board of GFP (UK) has issued the following statement:
We look forward to developing Growth’s business; the UK subsidiary will form a key part of Growth’s international expansion strategy. The company will initially have responsibility for Growth’s pan European activities, taking advantage of the open market, which exists within the EU. However, as business expands, it is envisaged that a number of additional subsidiaries will be created with Europe.
GFP (UK) will also take a lead role in assisting Growth in expanding its overseas operations, in Africa, Asia, and South America. This is designed to ensure that Growth’s approach to business, detailed risk analysis; and highly efficient reporting lines are replicated. This will be of particular importance to those of our clients who operate in a number of jurisdictions.
GFP (UK) will work closely with its parent company. We have identified a number of exciting business opportunities. For a variety of mainly historic reasons, the credit enhancement industry is not as well developed in the UK/Europe, when compared with the USA. This gives GFP (UK) considerable scope to gain market share; we will be able to fill the gaps, which exists in the market.
GFP (UK) will take a dynamic, flexible approach to developing its business. The Board brings to the company considerable experience within:
• International business.
• Structured finance and banking.
• Large-scaled project development and management.
For further information contact Jack Birnholz, President, Growth Fund
Tel: 305 347 5112. Email: growthfund@email.com
This press release contains forward-looking statements that reflect the Company's current expectations regarding future events. While these statements reflect the Company's best current judgment, they are subject to risks and uncertainties.
This press release may include forward-looking statements relating to such matters as expectations of income from the securities owned and/or guaranteed by the company. Such forward-looking statements are based on assumptions rather than historical or current facts and therefore, are inherently uncertain and subject to risk.
To comply with the terms of a “safe harbor” provided by the Private Securities Litigation Reform Act of 1995 that protects the making of such forward-looking statements from liability under certain circumstances, the Company notes that a variety of factors could cause the actual results or experience to differ materially from the anticipated results or other expectations described or implied by such forward looking statements. These unknown factors, risks, and uncertainties may affect operations, performance, development, and results of the Company’s business. The Company does not undertake any obligation to update or revise any forward-looking statements subsequent to the date on which they are made.
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