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Microcap & Penny Stocks : Newriders, Inc (NWRD) Easyriders Restaurant
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To: hdmaster who wrote (112)7/31/1998 9:25:00 PM
From: P.Hronis  Read Replies (1) of 119
 
Newriders Comments On Stock Price

Business Wire - July 31, 1998 20:41

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NEWPORT BEACH, Calif.--(BUSINESS WIRE)--July 31, 1998--In response to inquiries
from shareholders and other interested parties, officials at Newriders Inc.
(OTC/BB:NWRD) say they know of no reason for the recent weakness in the
company's stock price.

The stock has dropped from $2.00 to just over $1.00 over the last several weeks. The
company is proceeding toward the completion of its merger transactions with Paisano
Publications Inc. and its affiliated companies, and the El Paso Bar-B-Que chain of
restaurants. These transactions are subject to approval by the stockholders of
Newriders.

Bill Prather, chief executive officer of Newriders, said: "We met with our senior lender
this week, and they gave us every indication that they wanted to proceed to closing as
soon as possible. We fully expect to close the financing and merger transactions by the
end of September or sooner."

A Proxy/Registration Statement on Form S-4 (the "S-4") relating to the above-described
transactions has been filed with the Securities and Exchange Commission, but has not
yet become effective. Such transactions are described in detail in the S-4 and the
statements made herein are qualified in their entirety by reference to the S-4. The S-4
will be forwarded to the stockholders of Newriders after the Securities and Exchange
Commission has completed the review of the S-4. (This news release shall not
constitute a solicitation with respect to the shares of Newriders nor shall it constitute an
offer to sell or the solicitation of an offer to buy shares of Newriders or any of its
affiliates.)

This document contains forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements involve known and
unknown risks and uncertainties that may cause the company's actual results or
outcomes to be materially different from those anticipated and discussed herein.

CONTACT: Newriders Inc.
Bill Nordstrom, Chief Financial Officer
714/718-4630
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