9/21/2005
SIRVA Announces Completion of Independent Review by Audit Committee and Reports on Operating Results
Forward-Looking Statements
CHICAGO, Sept 21, 2005 -- SIRVA, Inc. (NYSE: SIR), a global relocation services provider, announced today that on September 15 the Audit Committee of its Board of Directors completed its independent review of the Company's accounting, financial reporting and corporate governance practices and related processes. In addition, the Company has completed its assessment of the accounting errors that gave rise to the restatement of its financial results for the years 2000 through 2003 and the first nine months of 2004. The company also reported its 2004 results and preliminary estimates of its operating results for the six months ended June 30, 2005.
A detailed discussion of these and other matters is presented in the Company's current report on Form 8-K, which is being concurrently filed with the Securities and Exchange Commission. For a copy of the full report go to www.sec.gov or SIRVA's Web site at http://www.sirva.com
SIRVA, Inc. is a leader in providing relocation solutions to a well- established and diverse customer base around the world. The company is the leading global provider that can handle all aspects of relocations end-to-end within its own network, including home purchase and home sale services, household goods moving, mortgage services and insurance. SIRVA conducts more than 365,000 relocations per year, transferring corporate and government employees and moving individual consumers. The company operates in more than 40 countries with approximately 6,000 employees and an extensive network of agents and other service providers. SIRVA's well-recognized brands include Allied, northAmerican, Global, and SIRVA Relocation in North America; Pickfords, Huet International, Kungsholms, ADAM, Majortrans, Allied Arthur Pierre, Rettenmayer, and Allied Varekamp in Europe; and Allied Pickfords in the Asia Pacific region. More information about SIRVA can be found on the company's Web site at www.sirva.com.
This release includes forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical, but are made based on management's current expectations and beliefs concerning future developments and their potential effects upon SIRVA, Inc. and its subsidiaries. There can be no assurance that future developments affecting us will be those anticipated by management. These forward-looking statements are not a guarantee of future performance and involve risks, uncertainties and other factors, including without limitation those described under the caption "Business-Investment Considerations" and other risks described in our 2003 Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. We do not intend, and are under no obligation, to update any particular forward-looking statement included in this release.
Media Contact
Jim Trainor
Vice President
Corporate Communications
630.468.4828 (work)
630.334.7865 (cell)
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John Springer
Vice President
Investor Relations
630.468.4797 (work)
