MSGI Completes $30 Million Stock Sale

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Diversified direct marketing concern Marketing Services Group Inc.,


New York, said Friday that it completed a $30 million private


placement of its Series E convertible preferred stock. The company


said the shares were purchased by Credit Suisse First Boston affiliate


Marshall Capital Management by funds managed by Rose Glen Capital


Management. The proceeds from the stock sale will be used for general


working capital and minority Internet investments. MSGI, which


describes itself as an Internet incubator, owns several direct


marketing and Internet businesses, including WiredEmpire.

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