ARCON NEWS:
Midland Inc. Announces Clarifications & Previous DF-144
Test Results
HOUSTON--(BUSINESS WIRE)--May 28, 1998--John H. Spriggs, COO of Midland Inc. (OTC
BB:MIDL - news), today announced their wholly owned subsidiary Arcon Energy Inc. has tested
the DF-144 blend value with four refinery streams from Coastal Corp.'s [NYSE:CGP - news]
refinery at Eagle Point, N.J.
Using various concentrations of DF-144 the testing resulted blend values measuring octane indices
(r+m/2) of 120 to 168 octane.
Arcon Energy Inc. has also conducted over 200 tests of its patented process for DF-144 using
various formulations of feed stock components always with ethanol. SGS Control Services Inc. and
Core Labs are bonded and conducted all testing of the samples according to ASTM standards.
Both highly respected and internationally recognized, these laboratories test and certify chemicals for
major oil and gas and chemical companies world wide.
The tests reported motor octane, research octane PONA and distillation. DF-144 has been tested
by Conoco and Glencore Ltd. both major refiners and gasoline blenders confirmed Arcon's results.
Warrants can be exercised for 1 warrant (MIDLW) plus .50 for one common share (MIDL) either
though your broker or the Transfer Agent: Signature Stock Transfer, 14675 Midway Road, Suite
221, Dallas, TX 75244.
Effective at the close of business on May 29, 1998, the previous announced dividend of the Series
''A'' Preferred will be implemented as a 3:2 split. Signature Stock Transfer will be notifying the DTC
of the terms over the weekend. Midland Inc. has notified NASDAQ of the 3:2 terms.
As more corporate matters conclude we shall keep our shareholders informed in a timely matter in
news releases and on our website located at arconltd.com which will include all company
updates.
Safe Harbor Act Disclaimer: This release may contain forward-looking statements that involve risks
and uncertainties including, without limitation, continued acceptance of the company's products and
services, increased levels of competition, new products and technological changes, the company's
dependence upon financing, third-party suppliers and intellectual property rights, and other risks
detailed form time to time in the company's federal filings, annual report, offering memorandum or
prospectus.
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