Small Business Resources, Business Advice and Forms from AllBusiness.com

TeamStaff, Inc. Approved for Listing On the NASDAQ National Market.

Publication: Business Wire
Date: Tuesday, July 10 2001

Business Editors

SOMERSET, NJ--(BUSINESS WIRE)--July 10, 2001

TeamStaff, Inc. (Nasdaq:TSTF - news) a leading national Professional Employer Organization (PEO) announced today that its filing for listing on the NASDAQ National Market System (NMS) has been approved.

TeamStaff,

Inc. will commence trading on July 12, 2001, on the NMS under the symbol "TSTF." The Company currently trades on the NASDAQ Small Cap Market under the same symbol.

Commenting on the move, Donald W. Kappauf, President and CEO of TeamStaff said, " We are pleased our application has been approved. This has been one of our strategic goals and one of the primary reasons the Company split its stock in June 2000. There are many financial investment organizations that will not issue research reports or follow a company such as ours unless the company is on one of the major stock exchanges. We believe that our NMS listing will greatly enhance our visibility to institutional investors and the general investment community, thus increasing liquidity and shareholder value."

The Company also stated that it is still working towards completion of SEC and NASDAQ review of its joint proxy statement/prospectus filed in connection with the previously announced proposed merger with BrightLane.com. Subject to the review and comment process, management believes that this merger transaction will be completed in mid to late August of this year.

About TeamStaff

Headquartered in Somerset, New Jersey, TeamStaff serves over 4,500 clients and over 55,000 employees throughout the United States as a full service provider of employer outsourcing and staffing solutions. Through its Professional Employer Organization (PEO), TeamStaff provides small and medium sized businesses throughout the nation with a better way to employ their people by delivering an off-site, full-service human resource outsourcing solution. TeamStaff's comprehensive employer services include employment administration, benefits management, government compliance, recruiting and selection, employer liability management, training and development and performance management tools. TeamStaff's PEO division currently ranks as one of the largest in the nation.

TeamStaff also operates three other employer-outsourcing services. Through TeamStaff Rx, TeamStaff provides temporary and permanent medical staffing services throughout the country and is the largest provider of medical imaging personnel in its field. TeamStaff also operates DSI, its niche payroll service bureau offering payroll and tax processing to over 750 clients and over 30,000 employees, as well as TeamStaff Solutions, a Manhattan-based provider of technical temporary personnel, disbursement management systems and transaction processing services for government agencies. For more information on the company visit its web site at www.teamstaff.com.

The statements contained in this press release that are not historical facts are forward-looking statements under federal securities law that involve a number of risks and uncertainties. Therefore, the actual results of future events described in such forward-looking statements could differ materially from those stated in such forward-looking statements. Among the factors that could cause actual results to differ materially are: (i) regulatory and tax developments; (ii) changes in TeamStaff's direct costs and operating expenses; (iii) the estimated costs and effectiveness of capital projects and investments in technology and infrastructure; (iv) TeamStaff's ability to effectively implement its eBusiness strategy; (v) the effectiveness of TeamStaff's sales and marketing efforts, including the company's marketing arrangements with other companies; (vi) changes in the competitive environment in the PEO industry; and (vii) the ability of TeamStaff to successfully consummate the BrightLane transaction. Some of these factors are described in further detail in TeamStaff's filings with the Securities and Exchange Commission.)

In addition, make sure to read these articles: