BERLIN, Germany--(BUSINESS WIRE)--Sept. 2, 1999--KURCHATOV
RESEARCH HOLDINGS, Ltd. (OTC BB:KRHL) is pleased to announce that it
intends to complete its previously announced acquisition of Cetoni,
GmbH in September, 1999. Auditors for Kurchatov Research Holdings,
Ltd. are completing the translation of the German financial statements
for the periods 1996-1999 to US GAP which will complete one of the
final remaining acquisition requirements.
Cetoni, GmbH has recently concluded negotiation of a contract
with MASHI Holding Inc. for the sale of 5000 "Light Boy", the patented
combined cigarette lighter and cigarette pack holder.
MASHI Holding Inc. is engaged in the distribution and marketing
of various medical and consumer over the counter products world wide.
Presently MASHI Holding, Inc. is distributing its products on a daily
basis to more than 700 different pharmacies, superstores and cosmetic
shops through more than 40 regional dealers.
MASHI Holding Inc. purchased the 5000 "Light Boy" units as
samples with which to test its world wide acceptance. These initial
units are to be delivered prior to October, 1999 and represent what
Cetoni believes to be the first of a series of orders from MASHI
Holding Inc. during 1999-2000 totaling 150,000 units. Cetoni GmbH
recently completed the establishment of manufacturing of its "Light
Boy" product in Hungary.
Kurchatov Research Holdings, Ltd was organized to identify,
assess, acquire and commercialize technologies developed by
scientists, engineers and research institutes worldwide.
This release may include "forward looking statements" within the
meaning of various provisions of federal and state securities laws and
judicial interpretation of such laws. Any statements that express, or
involve discussions as to, expectations, beliefs, plans, objectives,
assumptions or future events or performance are not historical facts
and may be forward-looking and, accordingly, such statements involve
estimates, assumptions and uncertainties which could cause actual
results to differ materially from those expressed the forward looking
statements. Whether actual results will conform to KRH's expectations
and predictions is subject tot he risks and uncertainties described
above that as of the date on which such statement is made, and KRH
undertakes no obligations to update any forward-looking statement or
statements to reflect events or circumstances after the date on which
such statement is made or to reflect the occurrence of unanticipated
events.
--30--kam/ny*
CONTACT: Hans Joachim Schuerholz, 011 49 171 630 6100
or
International Media Solutions, Inc.
Ms. Yolanda Velazquez, 407/786-0990
KEYWORD: NEW YORK INTERNATIONAL EUROPE
INDUSTRY KEYWORD: CHEMICALS/PLASTICS
RETAIL BANKING MERGERS/ACQ
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