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Microcap & Penny Stocks : Berger Holdings BGRH

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To: Ed Ryder who wrote ()	12/28/1999 8:32:00 AM
From: leigh aulper	of 83

Berger Holdings, Ltd. Completes New Financing Package PHILADELPHIA--(BUSINESS WIRE)--Dec. 28, 1999--Berger Holdings, Ltd. (NASDAQ: "BGRH") announced that it has extended its bank financing facility with Summit Bank for an additional three years. The total line has been increased from $11.9 million to $19 million plus, and includes an $8 million acquisition fund. The interest rate has been reduced from one-half above the existing prime rate to one-half below the existing prime rate. Mr. Theodore A. Schwartz, Chairman and CEO of the Company, stated, "During the last two years Berger's revenue has increased from $19.7 million to approximately $40 million. Cash flow from operations (EBITDA) has grown from $2.4 million to an anticipated $5 million in 1999. We are very pleased that Summit Bank, with whom we have had a three year relationship, has recognized the current strength of our Company and has agreed to help implement our aggressive plans for future growth." Berger Holdings, Ltd. is the parent company of Berger Bros Co. which was founded in 1874 and is a manufacturer of a complete line of roof drainage products specializing in copper as well as residential and commercial snow guards. All of the Company's products are used in new construction, remodeling and renovation markets.

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