Firamada, Inc. Announces Agreement With EMC Mortgage Corp., a Bear Stearns Company

Business Wire, Oct 27, 1999

LONG BEACH, Calif.--(BUSINESS WIRE)--Oct. 27, 1999--

Firamada, Inc. (OTCBB:FAMHE) Wednesday announced that its wholly owned subsidiary, Encompass Staffing Services, has entered into an on-site staffing agreement with EMC Mortgage Corp., a Bear Stearns company.

As the exclusive staffing contractor, Encompass Staffing will supply temporary, permanent and contract employees for EMC as EMC requests.

Encompass Staffing will select and partner with several local vendors to enhance the recruiting and selection process of qualified candidates, thereby insuring a quick response to EMC's marketing needs.

Encompass Staffing President Pam Taylor commented that "EMC Mortgage has historically been aggressive in its use of staffing contractors and this relationship could generate up to $3.5 million in gross revenues over the next 12 months." She further stated, "Encompass can anticipate gross profit margins of approximately 25 percent."

D. Robert Albi, president and chief executive officer of Firamada, stated that "Firamada will continue to market its services that generate higher profit margins for the company." He further added, "Consistent with these efforts, we will aggressively promote the services of Encompass Staffing."

Firamada is a national staffing and professional employer organization specializing in high-end temporary staffing, information technology placement, employee leasing and permanent placement personnel. Firamada and its subsidiaries currently operate offices in California, New York, Texas, Arizona, Georgia and Delaware.

For additional information on Firamada products and services, access the company's Web site at www.firamadainc.com.