ERHC says "Bloomberg Incorect Regarding 144's".
Jack Kanak
__________________________
Tuesday August 19 2:31 PM EDT
Company Press Release
Source: Environmental Remediation Holding Corporation
ERHC Corrects Bloomberg's Inaccurate Reporting Of 144 Filings
BROUSSARD, La., Aug. 19 /PRNewswire/ -- Environmental Remediation
Holding Corp. (OTC BULLETIN BOARD: ERHC) announced that Bloomberg, a
major business news service, inaccurately reported yesterday the details
of a Form 144 filing recently submitted to the Securities and Exchange
Commission (SEC). Bloomberg agreed to correct its error today. The news
wire reported that a private shareholder had requested the registration
and sale of ERHC common stock totalling 4,177,928. This was highly
inaccurate.
The stock listed in the Form 144 is actually common stock of Regional
Air Group Corporation (RAIR), the predecessor to ERHC. The form reviewed
by Bloomberg specified that the actual amount of shares equivalent to
ERHC common stock is 2,003, when adjusting for a 2,095 to 1 reverse
stock split that occurred when ERHC was formed as a publicly traded
company on August 23 ,1996. These shares were already calculated in the
current shares outstanding.
Bloomberg failed to report the details of the conversion of RAIR to ERHC
that are clearly listed on the Form 144, which it had in its possession.
ERHC had previously advised Bloomberg of the stock split and the need to
accurately report filings submitted regarding registration of RAIR
shares. This followed a similar inaccurate reporting by Bloomberg on
August 8, 1997.
ERHC again requests remaining shareholders of Regional Air Group to
immediately contact the company's corporate secretary, James A. Griffin,
at 516-433-9119, and exchange their RAIR stock for ERHC shares. A legal
opinion or use of a broker is not necessary for the exchange of RAIR
stock.
Environmental Remediation Holding Corporation is engaged in oil and gas
production activities and environmental remediation, both domestically
and internationally. Environmental Remediation Holding Corporation's
stock is traded on the NASD OTC Bulletin Board under the symbol ``ERHC''
and is listed in Standard & Poor's Corporate Records.
SOURCE: Environmental Remediation Holding Corporation |
