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Microcap & Penny Stocks : MIS International (NASD/BB: MISM)

MISM 0.450

0.0%

Jan 21 4:00 PM EST

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To: StockJock-e who wrote (233)	3/10/1998 9:25:00 PM
From: KZAP	of 264

Tuesday March 10, 6:58 pm Eastern Time Company Press Release SOURCE: MIS International, Inc. MIS International Inc. to Assume Goodyear Locations MISSISSAUGA, Ontario, March 10 /PRNewswire/ -- MIS International, Inc. (OTC Bulletin Board: MISM - news) announced today that it has an agreement to acquire three locations in London Ontario from Goodyear Canada Inc. The locations will be refaced as Wheel to Wheel centers and be reopened by May 1. According to MIS CEO Dan Masters, ''Goodyear has decided to get out of the corporate store business and concentrate on selling tires to its dealers. This opened up the opportunity for us to acquire three locations that had accumulated sales of $2 million CAN when operated by Goodyear. We are also in discussion with them on other locations. Our cost to purchase the assets from Goodyear and turn the locations into Wheel to Wheel centers will average $100k CAN each. We couldn't duplicate these locations for twice that amount.'' Wheel to Wheel now has multiple growth patterns. They include the previously announced acquisition of up to 53 existing automotive locations, as well as new store construction and existing store conversions. According to Masters, ''Our growth in Canada is almost at a point whereby we will be one of the largest chains. We will soon be able to duplicate our growth in the United States. In fact we have already begun a search for a quality automotive company that we can purchase and convert into Wheel to Wheel for our U.S. expansion.'' MIS International Inc. develops and franchises retail concepts on a multi- unit basis. MIS currently has two distinct franchise concepts, Pretzel Twister in the snack food industry and Wheel to Wheel in the automotive repair industry. SOURCE: MIS International, Inc. KZAP

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