KRUZ - European Cruises Corp. Message Board

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Microcap & Penny Stocks : KRUZ - European Cruises Corp.

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To: Jonas Grumby who wrote ()	12/6/1999 8:56:00 AM
From: leigh aulper	of 210

Maybe they won't go ch 11 after all SOURCE: Europa Cruises Corporation Europa Cruises Corporation Announces Sale of M/V Europa Stardancer MADEIRA BEACH, Fla., Dec. 6 /PRNewswire/ -- Europa Cruises Corporation (OTC Bulletin Board: KRUZ - news) announced today that on December 3, 1999, it sold the M/V Europa Stardancer for One Million Eight Hundred Thousand Dollars ($1,800,000) to Stardancer Casino, Inc. The Company used the proceeds of the sale to pay $800,000 to First Union National Bank of Florida and to pay down a significant portion of the Company's remaining debt. Deborah A. Vitale, President of Europa Cruises Corporation, commenting on the sale stated: ''We are extremely pleased to have been able to sell the Stardancer. The proceeds of the sale were used to reduce the Company's total debt by approximately $1.3 million. The sale has placed the Company on more stable financial footing. This is an important first step in realizing our goal of becoming an essentially debt-free, asset rich entity.''

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