Precept Business Services Welcomes Two New Directors To Its Board

Business Wire, Dec 8, 1998

DALLAS--(BUSINESS WIRE)--Dec. 8, 1998--Precept Business Services, Inc. (NASDAQ: "PBSID") the nation's largest independent distributor of printed business products and document management services, today announced that its board of directors had appointed Robert Bazinet and J. D. Greco to fill the two existing vacancies on its board.

Robert Bazinet was previously President of Creative Business Solutions ("Creative"), which was acquired by Precept in September 1998. Mr. Bazinet founded Creative in 1984 and has more than 38 years' experience in the printed business products and document management services industry. Headquartered in Bangor, Maine, Creative's annualized sales exceed $16 million, and it is a leading provider of printed products, distribution services and information solutions to business customers throughout the New England states. According to the industry publication Business Forms, Labels & Systems magazine, Creative was the 28th largest independent distributor of business forms in the United States when it was acquired by Precept. Mr. Bazinet attended St. Mary's University in Halifax, Nova Scotia.

J. D. Greco was previously President of MBF Corporation ("MBF"), which was acquired by Precept in June 1998. Founded by Mr. Greco in 1975, MBF is headquartered in Monroe, Louisiana and generates yearly sales in excess of $19 million. When acquired by Precept, MBF was ranked the 14th largest independent distributor of business forms by Business forms, Labels & Systems magazine and serves over 7,000 customers in twelve states throughout the South Central U. S. Mr. Greco's career in printed business products and document management services began when he joined Moore Business Forms in 1969. He received a BA degree in Marketing from Northeast Louisiana University in 1969.

"We are delighted to welcome these highly qualified executives to our Board of Directors," commented David Neely, Chairman and Chief Executive Officer of Precept Business Services, Inc. "Their extensive experience in building very successful companies in the printed business forms and document management services industry will prove highly valuable to our Company's consolidation program."

Precept Business Services, Inc. is the nation's largest nationwide independent distributor of printed business products and document management services. The Company also provides corporate transportation services in Texas, New York, New Jersey, Ohio and Michigan. Recent acquisitions have diversified the Company's revenue base and positioned Precept as a consolidator within the $20 billion business products and document management services industry, and the $12 billion corporate transportation industry. The Company is headquartered in Dallas, Texas and its common stock is traded on NASDAQ under the symbol "PBSID". Effective January 05, 1999, the Nasdaq symbol for Precept's common stock will change to "PBSI".

This press release include statements which may constitute "forward-looking" statements, usually containing the words "believe", "estimate", "project", "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products in the marketplace, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.