COSTA MESA, Calif., May 25, 2000 /PRNewswire via COMTEX/ -- James E. Shipley,
President and CEO of EMB Corporation (OTC Bulletin Board: EMBU) (Berlin,
Frankfurt, and Hamburg Exchanges
finanzen.de.yahoo.com*&s=919810&d=v1 ) announced today that the
company entered into a letter of intent to acquire natural gas processing plants
located in Kentucky and Tennessee from Cyrus Ltd.
James E. Shipley, President and CEO of EMB said, "Cyrus Ltd. is an oil and gas
holding company that owns and operates natural gas processing plants, as well as
contracts and options on oil and gas properties located in Texas and surrounding
area. The closing of this transaction is subject to the execution of a
definitive agreement by all parties," Mr. Shipley went on to say. "Upon closing
of this transaction, present management of EMB is currently scheduled to resign,
to be replaced by management of Cyrus Ltd. As previously announced, upon the
effectiveness of a registration statement to be filed by e-Net, the e-Net common
stock will be the subject of a dividend to the EMB shareholders of record as of
the close of business May 31, 2000. Each EMB shareholder of record on that date
will receive one share of e-Net common stock for each 4 shares of EMB
Corporation's common stock. This transaction is not expected to have any effect
upon the dividend distribution."
Persons interested in e-Net Financial Corporation are encouraged to verify
information they may receive from others about the Company by contacting the
Company in writing to: Investor Relations, e-Net Financial Corporation, 3200
Bristol, 8th Floor, Costa Mesa, CA 92626.
A number of statements contained in this report are forward-looking statements
which are made pursuant to the Safe Harbor provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements involve a number
of risks and uncertainties, including the timely development and market
acceptance of products and technologies, competitive market conditions,
successful integration of acquisitions, the ability to secure additional sources
of financing, the ability to reduce operating expenses and other factors
described in the Company's filings with the Securities and Exchange Commission,
including its 1998 Form 10-KSB, and the 1999 Form 10-KSB/A. The actual results
that the Company may achieve may differ materially from any forward-looking
statements due to such risks and uncertainties.
SOURCE EMB Corporation
CONTACT: James E. Shipley of EMB Corporation, 714-437-0738
(EMBU)
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