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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion.

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To: Jim Bishop who wrote ()	6/14/2000 10:03:00 AM
From: Truman123	Read Replies (2) of 150070

CCAA news: Wednesday June 14, 9:45 am Eastern Time Company Press Release SOURCE: Cala Corporation Cala Corporation Describes Strategy for Recent Transactions OKLAHOMA CITY, June 14 /PRNewswire/ -- Joseph Cala, Chairman and CEO of Cala Corporation (OTC Bulletin Board: CCAA - news) today released an explanation of Cala Corporation's strategy regarding the series of recently announced transactions. Cala Corporation will act as a co-master developer on the Istanbul hotel and Turkish water treatment plant projects. These projects represent a total expenditure outlay of $397 million. Cala Corporation owns 51% of the development contract, which is expected to generate fee income. The co-master development agreement was entered into with the Southern Italian engineering and architecture firm of AGS srl. Mr. Cala further explained that Cala Corporation's interest in purchasing Costanzo Industries of Italy is centered on its ability to handle large construction contracts like the two in Turkey. Cala Corporation also wants to tap Costanzo's vast construction and expansion capability to build additional licensed Molino/Modaferri bakery/cafe units throughout Italy. Costanzo Industries, one of Italy's most prolific builders of resorts and hotels, currently has over $200 million in short and long range contracts. Mr. Cala also pointed out that Costanzo Industries could play an important role in Cala Corporation's plans for the Undersea Resort and Casino expansion. Mr. Cala concluded by saying that the synergism created by these transactions would be typical of Cala Corporation's overall approach to expansion in the future. 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

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