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Gold/Mining/Energy : KERM'S KORNER

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To: Herb Duncan who wrote (8577)	1/22/1998 1:51:00 AM
From: Kerm Yerman	of 15196

MERGERS - ACQUISITIONS / Inspan Investment Ltd. Drops Merger Plan INSPAN INVESTMENT LIMITED ASE SYMBOL: INY JANUARY 21, 1998 Inspan Investment Will Not Proceed With Merger CALGARY, ALBERTA--Inspan Investment Limited ("Inspan") announces that the proposed merger between Cairo Energy Inc. and Inspan will not proceed. Management will continue to pursue and evaluate other corporate opportunities. The acquisition of certain oil and gas properties previously announced on November 11, 1997 is scheduled to close January 30, 1998, the purchase will be funded with bank debt. Mr. Murray Scalf has resigned from the Board of Directors effective January 8, 1998.

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