Elkridge, MD. January 8, 2008. Global performance improvement solutions provider General Physics Corporation (GP), a subsidiary of GP Strategies Corporation (NYSE: GPX), announced that, through its Municipal Infrastructure Services program, rolled out last year in the State of Tennessee, it has been able to identify potential savings for the City of Mt. Pleasant of an estimated $250,000 on the purchase of natural gas in 2008. This has been accomplished by advising the City to develop a purchasing strategy that looks at historical gas consumption, market trends and anticipated future demand to lock-in a portion of the City’s gas requirements at an under index rate.
Through this program, GP also has created a potential win-win situation for Mt. Pleasant and its large industrial customers by sharing the savings. Industry is anticipated to benefit by at least $200,000 per year due to reduced gas costs. According to the city manager, the benefit to the Mt. Pleasant economy could be as much as $500,000 per year. Based on this success, GP has been requested to assist several adjacent Tennessee counties with similar programs.
GP Strategies, whose principal operating subsidiary is GP, is a NYSE-listed company (GPX). GP is a global provider of training, e-learning solutions, management consulting, and engineering services. Through its Sandy Corporation and Via Training divisions, GP provides custom sales training services. GP’s solutions improve the effectiveness of organizations by delivering innovative and superior training, consulting, and business improvement services customized to meet the specific needs of its clients. Clients include Fortune 500 companies, manufacturing, process and energy industries, and other commercial and government customers. Additional information about GP Strategies may be found at www.gpstrategies.com and about GP at www.gpworldwide.com.
We make statements in this press release that are considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. These statements reflect our current expectations concerning future events and results. We use words such as “expect,” “intend,” “believe,” “may,” “will,” “should,” “could,” “anticipates,” and similar expressions to identify forward-looking statements, but their absence does not mean a statement is not forward-looking. These statements are not guarantees of our future performance and are subject to risks, uncertainties, and other important factors that could cause our actual performance or achievements to be materially different from those we project. For a full discussion of these risks, uncertainties, and factors, we encourage you to read our documents on file with the Securities and Exchange Commission, including those set forth in our periodic reports under the forward-looking statements and risk factors sections. Except as required by law, we do not intend to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Scott N. Greenberg
Chief Executive Officer
Chief Financial Officer