The RESG is a practice area of Arthur Andersen, which includes more than 34,000 professional employees in 350 offices in 72 countries.
With more than 6,000 clients and 1,500 employees, the RESG is one of the largest international professional real estate and hospitality accounting and consulting organizations.
Pacel anticipates that the North Carolina headquarters will become the Eastern Regional Office for RESG
with an existing client base generating approximately $25 million in annual revenue.
The majority of CEOs surveyed view real estate primarily as a cost of doing business," said John Dues, Arthur Andersen RESG
worldwide director of corporate real estate services.
MRG California LLC, a Beverly Hills, California human resource consulting firm is selling the assets to RESG
without any liabilities or encumbrances.
OTCBB:PCEL) announced today that as formerly announced it has completed the organization of RESG
and has issued the previously declared one-for-one dividend of its shares to stockholders of Pacel Corporation.
as of the close of business on December 10, 2002, and a distribution of Certificates of RESG
will be made on or before March 7, 2003, by our new transfer agent.
) will be on a "when issued" basis and, further, that when a distribution of Certificates of RESG
is actually made, it will be to the shareholders of Pacel as at the close of business on December 10, 2002.