OKLAHOMA CITY, May 25 /PRNewswire/ -- Joseph Cala, Chairman and CEO of
Cala Corporation (OTC Bulletin Board: CCAA) today announced that Cala
Corporation has entered into a purchase contract to acquire a twenty three
floor office complex in the heart of the financial district of Naples, Italy.
The building's purchase price is $16.5 million.  The building has a reported
current occupancy rate of nearly 99% which generates approximately
$2 million in gross annual revenue.
    This offer is an outgrowth of Cala Corporation's ongoing efforts to
acquire Costanzo Industries.  Both Costanzo Industries and the bidded office
building are currently in government receivership as a result of the
"tangentopoli" takeover that involved both businesses.  The "tangentopoli"
takeover resulted from accusations that high level Italian politicians had
accepted inappropriate gratuities from the former owners and administrators of
the Costanzo Industries which Cala Corporation is currently seeking to
acquire.
    The office building was designed by famed Japanese architect Kezo Tange.
Mr. Tange is responsible for many of the skyscrapers that pan the Neapolitan
financial district's skyline.  The mortgage and tax payments on the building
are estimated at less than $1 million.  Mr. Cala stated that he expects to
finance the acquisition through present revenues and the estimated value of
the building.
    Cala Corporation continues to work closely with Prefetto Santoro, the
Italian magistrate overseeing negotiations for both acquisitions.  Mr. Carmelo
Aitala, the appointed, current President of Costanzo Industries supports Cala
Corporation's acquisition efforts and is expected to remain as President, if
the acquisition is completed.  Mr. Paulo Arigo, another appointee and current
senior engineer of Costanzo Industries, has also been asked to remain as a
Senior Vice President, reporting directly to Mr. Aitala.
    A local property management company, ABACO immobilare, has been enlisted
to manage the office building for Cala Corporation.  Mr. Cala indicated that
approximately thirty days are needed to complete necessary due diligence and
finalize negotiations.
 
    About Cala Corporation.  Cala Corporation is a developer of international
hospitality businesses with a corporate emphasis on the ownership, operation
and management of hotels, resorts and casinos.  Cala Corporation is currently
developing the Undersea Resort and Hotel project with proposed locations
throughout the world.
 
    The information in this news release includes certain forward-looking
statements as defined in the "Safe Harbor" provision of the Private Securities
Litigation Reform Act of 1995.  These statements are based upon assumptions
that are subject to significant risks and uncertainties.  Although the Company
believes that the expectations reflected in forward-looking statements are
reasonable, it can give no assurance that the expectations of any of its
forward-looking statements will prove to be correct.  This press release was
prepared on behalf of the Board of Directors, which accepts full
responsibility for its contents.
    For further information on Cala Corporation, please contact (405) 235-4960
or e-mail info@calacorporation.com.
 
SOURCE  Cala Corporation
    -0-                             05/25/2000
    /CONTACT:  Cala Corporation, 405-235-4960, or email,
info@calacorporation.com/
    /Web site:  calacorporation.com /
    (CCAA)
 
CO:  Cala Corporation; Costanzo Industries