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Gold/Mining/Energy : Alternative Fuel Systems ATF:VSE

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To: The Osprey who wrote (575)	3/31/1998 2:10:00 PM
From: Sans Souci	Read Replies (3) of 4605

NEWS: (full release, re: p/placement) Attention Business Editors: ALTERNATIVE FUEL SYSTEMS INC. PRIVATE PLACEMENT CALGARY, March 31 /CNW/ - Alternative Fuel Systems Inc., (the ''Company'') announced today a private placement of 105,000 Common Shares at a price of $1.44 (Cdn.) per share for total proceeds of $151,200 (Cdn.) subject to regulatory approval. The proceeds realized from the private placement will be used by the Company to finance the on-going marketing activities as well as to provide for working capital. Alternative Fuel Systems Inc., designs, develops and markets conversion systems which permit diesel and gasoline engines to operate on compressed natural gas. ON BEHALF OF THE BOARD OF DIRECTORS ----------------------------------- Gerhard O. Klopp President The Vancouver Stock Exchange has not reviewed and does not accept responsibilty for the adequacy or accuracy of this News Release. %SEDAR: 00003847E -30- For further information: Gerhard O. Klopp, President, (403) 262-1833, Fax: (403) 237-7441 ==================================== All ATF news releases: newswire.ca

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