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Microcap & Penny Stocks : OILEX (OLEX)
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To: Marty Rubin who wrote (2361)1/9/1998 4:37:00 PM
From: baron-marney  Read Replies (8) of 4276
 
To All,

FOR IMMEDIATE RELEASE IN CONJUNCTION WITH NATIONAL
NEWS SERVICE.

OILEX ANNOUNCES 20 TO 1 REVERSE STOCK SPLIT

HOUSTON, TEXAS - JANUARY 8, 1998 - OILEX, INC. (OTCBBS - OLEX) announced today that the Board of Directors has effected a 20 to 1
reverse stock split. Management's decision to enact the reverse split was based upon its desire to accelerate the Company's transition from the OTC Bulletin Board to NASDAQ Small Cap. The Company currently meets the asset and shareholder requirements to be listed on the NASDAQ Small Cap Exchange. Management believes that the reverse stock split will benefit the Company by attracting institutional investors, investment banking houses and foreign investors.

In conjunction with the reverse, OLEX has filed for its new trading symbol and cusip number. The new symbol and cusip number should be received by OLEX in approximately ten days. The reverse is effective as of today's date.

OLEX is in the business of acquiring and developing oil and gas properties. The company has assets in the United States and Australia.

In compliance with corporate policy the following statement is included:
This news release includes forward looking statements that involve risks and uncertainties. The forward looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially due to a variety of factors including, without the limitation, the company's ability to produce and market products and/or services and other risks detailed from time to time in
the company's reports filed with the SEC.


Thanks The Baron
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