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23 Georgia-Based Companies Among the Nation's Top Grossing Black-Owned Businesses

BLACK ENTERPRISE Issues 32nd Annual Report on Black-Owned Businesses

NEW YORK, May 26 -- Twenty-three Georgia-based companies are among the nations leading African American-owned businesses, according to the BLACK ENTERPRISE 32nd annual BE100s report. The listing is recognized as the most respected measure of black-owned business performance. Overall, the BE 100s total 280 businesses, which include 100 industrial/service companies, 100 auto dealerships, 65 financial service firms and 15 advertising agencies.

H.J. Russell & Company, No. 12 on the BE Industrial/Service 100 list, ranks as Georgia's top-grossing African American-owned industrial service company. The construction and real estate development firm reported 2003 sales of $303 million.

The Harrell Companies based in Atlanta ranked No. 5 on the BE Auto Dealers 100 and is Georgia's largest African-American-owned auto dealership with reported sales of $286 million.

On the BE Advertising Agencies list, Atlanta-based Anderson Communications ranks No. 9 with $41 million in billings. Matlock Advertising & Public Relations, also located in Atlanta, ranked No. 10 with $38 million in billings.

Citizens Trust Bank ranks No. 3 on the BE Banks list with $360 million in assets reported for 2003, up from $277 million the previous year. Earnest Partners of Atlanta again ranks No. 2 on the BE Asset Managers list with $8 billion in assets under management. Atlanta Life Financial Group Inc. holds the No. 3 spot on the BE Insurance list reporting $100 million in assets for 2003. Jackson Securities L.L.C. retains the No. 7 spot on the BE Investment Banks list reporting $44 billion in total managed issues.

The complete listing, including eligibility requirements and criteria, is available in the June issue of BLACK ENTERPRISE on newsstands now.

For a complete list of all Georgia-based companies ranked in the BE100s report, please contact Andrew Wadium at (212) 886-9598 or email wadiuma@blackenterprise.com.