CORRECTING and REPLACING Number of Hispanic-Owned Businesses Expected to Grow 5 Percent to 3.2 Million by 2010

Business Wire, June 3, 2004

Business Editors

CORRECTION...by Hispanic PR Wire

SANTA BARBARA, Calif.--(BUSINESS WIRE)--June 3, 2004

In BW5676 issued June 3, 2004: Headline of release should read: Number of Hispanic-Owned Businesses Expected to Grow 55 Percent to 3.2 Million by 2010 (sted Number of Hispanic-Owned Businesses Expected to Grow 5 Percent to 3.2 Million by 2010).

The corrected release reads:

NUMBER OF HISPANIC-OWNED BUSINESSES EXPECTED TO GROW 55 PERCENT TO 3.2 MILLION BY 2010

Today HispanTelligence(R) announced the projected number of U.S. Hispanic-owned businesses would increase an estimated 7.6 percent annually through 2010. Total projected revenues will surge a robust 70 percent to more than $465 billion in the same period, spurred by growing entrepreneurial trends within the nation's largest minority population, estimates HispanTelligence(R) in the just released report "Hispanic-Owned Businesses: Growth Projections, 2004-2010."

"The strong growth indicates the increasingly vital role of Hispanic-owned firms in U.S. economic development," explained Dr. Juan Solana, HispanTelligence(R) Chief Economist.

According to the HispanTelligence(R) analysis, the service and financial sectors are expected to show the largest growth in Hispanic-owned companies.

"Currently, the service sector leads all other industry segments in overall concentration and number of Hispanic-owned firms," stated co-authors of the study Tabin Cosio and Juan Solana.

Additionally, 90 percent of all Hispanic-owned firms are concentrated within 20 states, with California- and Florida-based businesses accounting for 56 percent of all revenues.

The HispanTelligence(R) "Hispanic-Owned Businesses: Growth Projections, 2004-2010" report also provides:

-- 30-year revenue and industry-sector trend analysis (1982-2010)

-- The Top 20 states for Hispanic-owned firms, with

state-specific data on revenue and number of firms

-- Data appendix providing sales and number of firm estimates by

year and industry sector

To purchase a copy of this or other HispanTelligence(R) reports, visit http://www.hispanicbusiness.com/research/.> About HispanTelligence(R)

HispanTelligence(R), the research services unit of Hispanic Business Inc., applies quantitative and qualitative market research techniques for corporate and government clients targeting the U.S. Hispanic market.

About Hispanic Business Inc.

Hispanic Business Inc. is the nation's leading source of information for and about Hispanic professionals and entrepreneurs. Products and services include: Hispanic Business magazine, HispanicBusiness.com, HireDiversity.com, and Hispanic Business Events including EOY (Entrepreneur of the Year) Awards Gala, BOE (Board of Economists) U.S. Hispanic Economic Summit and WOY (Woman of the Year).

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