**NEWS OUT**
biz.yahoo.com
Tuesday August 3, 3:46 pm Eastern Time
Company Press Release
Arete Industries, Inc. Appoints Michael Lowe as Chief Operating Officer and Completes Consolidation
BOULDER, Colo.--(BUSINESS WIRE)--Aug. 3, 1999--Arete Industries Inc. (OTC:AREE - news) announced the appointment of Michael Lowe as Chief Operating Officer of Arete and the Company's operating subsidiaries.
Thomas P. Raabe, Chairman and CEO of Arete, stated that this move is being made as the Company completes consolidation of all operations to Colorado and is a critical step in the roll-out of its direct mail and e-commerce advertising business and proposed full-scale commercial printing and mailing facility (see press release: Business Wire -- Feb. 17, 1999).
Mr. Lowe joined the Company in November, 1998 as Managing Director of Aggression Sports, Inc., dba Arete Outdoor, a minority-owned subsidiary of the Company, to design high-end outdoor adventure products and to implement an e-commerce direct marketing program through the Company's facilities and relationships (see press release: Business Wire -- Dec. 8, 1998). Lowe will be representing this venture at the Outdoor Retailer tradeshow in Salt Lake City, Utah, later this month. Among other entrepreneurial ventures in outdoor sports equipment, Lowe is the founder and former Chairman and CEO of Lowe Alpine Systems, Inc., a leading manufacturer of mountaineering and outdoor adventure equipment, hardware, clothing and accessories.
Raabe stated: ''We have eliminated all overhead and direct expenses related to printing, mailing and customer service and are outsourcing these requirements from our joint venture partner, SourceOne Worldwide.'' (see press release: Business Wire -- Feb. 26, 1999) ''We are focusing on implementing a new pricing structure, simplifying billing, graphics and production systems and directing resources at growing our franchise base. This is the first time this Company has ever been in a position to legitimately promote its business and to accommodate growth,'' Raabe said.
Raabe went on to state: ''Mike Lowe has the necessary business and technical skills and the leadership ability to take us through the process of building a state-of-the-art direct marketing organization while managing the current outsourcing relationship with SourceOne. It is our intention that Mike work directly with SourceOne as our outsourcing partner, and to take the lead management role in the transition of ownership and control of the commercial printing operation over to Arete when that part of the joint venture is executed.''
SourceOne Worldwide, a privately held Denver, Colorado-based company, is a provider of comprehensive marketing services, including print, mail, fulfillment, customer service and database management to Fortune 1000 companies.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
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Contact:
Stock Enterprises
Investor Relations Contact:
James Stock, 702/614-0003
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