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Monday April 13, 11:42 am Eastern Time
Company Press Release
CLARIFICATION of BW1444, MIDLAND-INC
DALLAS--(BUSINESS WIRE)--April 13, 1998--Arcon Energy, Inc., a wholly-owned subsidiary, announced on April 7, 1998 it set up a new division known as Arcon Fuel Marketing, Inc. and fully intends to provide marketing of its ethanol-based gasoline products and gasoline sales program and is proceeding with the rebate plan. In addition, Arcon has accelerated its ethanol gas sales program with the major companies mentioned.
To Arcon's knowledge, it was never announced that there is a relationship or the development of a program with Fuel Marketing Solutions. To Arcon's understanding, Fuel Solutions is the responsibility of Mr. Hall and Mr. Jacoves and to date, is not a corporation or a development and we cannot locate in the ''April 7, 1998 Midland Developments'' release statements in which there is statement as to a relationship with Fuel Marketing Solutions. Nor can we locate any previous release in which Fuel Marketing Solutions has made any announcement. However, Jacoves did agree, on a personal consulting basis, to assist Arcon and to sit on a committee of Arcon's new marketing division. Should Jacoves wish to withdraw his previous commitment as stated in the April 9, 1998 press release, it can only be assumed he has a conflict of interest. It appears Jacoves misunderstood our release and thought Arcon had some relationship with Fuel Marketing Solutions. We apologize to our investors for any misunderstandings.
Arcon fully intends to proceed with its current marketing program for ethanol-based gasoline sales to supermarkets and is raising further equity as stated in the April 7, 1998 news release. We expect numerous updates on Arcon Marketing developments.
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Contact:
Midland, Inc., Dallas
888/478-5010
Fax: 972/991-3295
E-mail: archem@swbell.net
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More Quotes and News: MIDLAND INC (OTC BB:MIDL - news)
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