General Employment Signs Definitive Agreement to Sell Control to PSQ, LLC

* Reuters is not responsible for the content in this press release.

Mon Mar 30, 2009 5:31pm EDT

OAKBROOK TERRACE, Ill., March 30 /PRNewswire-FirstCall/ -- General Employment
Enterprises, Inc. (Amex: JOB) announced today that it has signed a definitive
securities purchase and tender offer agreement under which PSQ, LLC will
acquire a controlling interest in General Employment.  

Under the terms of the agreement, PSQ has agreed to (1) purchase from General
Employment 7,700,000 newly issued shares of Common Stock of General Employment
at a purchase price of $0.25 per share for a total purchase price of
$1,925,000, and (2) commence a cash tender offer to purchase from General
Employment's shareholders up to 2,500,000 outstanding shares of Common Stock
at a purchase price of $0.60 per share.  If more than 2,500,000 shares of
Common Stock are tendered in the tender offer, the number of shares tendered
by each tendering shareholder will be cut back proportionately by a percentage
amount equal to the quotient of 2,500,000 over the number of shares of Common
Stock tendered in the tender offer. 

The transaction documents also provide that, upon the closing of the share
purchase and the tender offer, (1) Sheldon Brottman, Edward Hunter, Thomas
Kosnik and Kent Yauch will resign from General Employment's Board of
Directors, and their vacancies will be filled with the appointments of Stephen
Pence, Charles (Chuck) W.B. Wardell III and Jerry Lancaster to the Board, (2)
Herbert F. Imhoff, Jr. will resign as Chief Executive Officer and President of
the Company and will resign his office as Chairman of the Board of Directors
(but will remain as a member of the Board), and will also terminate his
employment agreement with General Employment and enter into a consulting
agreement with General Employment, (3) Ronald E. Heineman will be appointed to
serve as Chief Executive Officer and President of the Company, and (4) Stephen
Pence will be appointed to serve as Chairman of the Board of Directors of the
Company.  

The transactions have been approved by the board of directors of General
Employment and by the member-manager of PSQ, and are not contingent on receipt
of financing by PSQ.  The share purchase and the tender offer are subject to
certain customary closing conditions, including receipt of approval from
General Employment's shareholders in favor of the share purchase.  The
consummation of the tender offer is not subject to any condition regarding any
minimum number of shares being validly tendered in the offer.  

General Employment expects the tender offer to be commenced by PSQ not later
than April 13, 2009.  The tender offer will remain open for 75 days from
commencement, subject to extension under certain circumstances.  

Prairie Capital Advisors, Inc. acted as financial advisor and Schiff Hardin
LLP acted as legal counsel to General Employment.  The Law Office of Gregory
Bartko, LLC of Atlanta, Georgia acted as legal counsel to PSQ.

About General Employment

General Employment provides professional staffing services through a network
of 16 branch offices located in nine states, and specializes in information
technology, accounting and engineering placements.

Additional Information about the Tender Offer and Share Purchase Merger and
Where to Find It 

This press release is being made in connection with the proposed share
purchase from General Employment by PSQ and the proposed tender offer for
shares of General Employment to be made by PSQ.  This press release is for
informational purposes only and is not an offer to buy or the solicitation of
an offer to sell any securities.  The solicitation and the offer to buy shares
of General Employment Common Stock will be made only pursuant to an offer to
purchase on Schedule TO and related materials that PSQ intends to file with
the Securities and Exchange Commission (the "SEC").  In connection with the
tender offer, PSQ will file with the SEC a tender offer statement and related
offer to purchase on Schedule TO that provides the terms of the tender offer
and General Employment will file with the SEC a solicitation/recommendation
statement on Schedule 14D-9 and a related information statement, as well as a
proxy statement relating to shareholder approval of the proposed share
purchase.  Shareholders and investors are urged to read these documents
carefully and in their entirety if and when they become available because they
will contain important information about the tender offer and/or the proposed
share purchase. 

When the offer to purchase, solicitation/recommendation statement, proxy
statement and/or information statement become available, they will be mailed
to General Employment shareholders who are entitled to receive such documents.
 In addition, the tender offer statement and related offer to purchase,
solicitation/recommendation statement, proxy statement and/or information
statement as well as other filings containing information about General
Employment, the tender offer and the share purchase, if and when filed with
the SEC, will be available free of charge at the SEC's Internet Web site,
www.sec.gov.  In addition, investors and shareholders may obtain free copies
of the solicitation/recommendation statement, proxy statement and/or
information statement as well as other filings containing information about
General Employment, the tender offer and the share purchase that are filed
with the SEC by General Employment, if and when available, by contacting Kent
Yauch, Chief Financial Officer, at (630) 954-0495.
 
General Employment and its directors and officers and other members of
management and employees may be deemed to be participants in the solicitation
of proxies with respect to the proxy statement that will be used in connection
with the share purchase.  Information regarding General Employment's directors
and executive officers is detailed in its proxy statements and annual reports
on Form 10-KSB, previously filed with the SEC, and the proxy statement, when
filed, relating to the share purchase, when it becomes available. 

Forward-Looking Statements 

The statements made in this press release which are not historical facts are
forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These
forward-looking statements include statements regarding the commencement of,
and the acquisition of shares pursuant to, the tender offer, the consummation
of the share purchase, the filing of documents and information with the SEC,
other future or anticipated matters regarding the transactions discussed in
this release and the timing of such matters. Such forward-looking statements
often contain or are prefaced by words such as "will" and "expect." As a
result of a number of factors, our actual results could differ materially from
those set forth in the forward-looking statements. Certain factors that might
cause our actual results to differ materially from those in the
forward-looking statements include, without limitation: (1) the risk that the
conditions to the closing of the tender offer or the share purchase set forth
in the securities purchase and tender offer agreement will not be satisfied,
(2) changes in General Employment's business during the period between the
date of this press release and the closing, (3) obtaining regulatory approvals
(if required) for the transaction, (4) the risk that the transactions will not
be consummated on the terms or timeline first announced, and (5) those factors
set forth under the heading "Forward-Looking Statements" in our annual report
on Form 10-KSB for the fiscal year ended September 30, 2008, and in our other
filings with the SEC. General Employment is under no obligation to (and
expressly disclaims any such obligation to) and does not intend to update or
alter its forward-looking statements whether as a result of new information,
future events or otherwise.



SOURCE  General Employment Enterprises, Inc.

Herbert F. Imhoff, Jr., Chief Executive Officer and President of General
Employment Enterprises, Inc., +1-630-954-0495, Fax, +1-630-954-0595,
invest@genp.com
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