First, there will be a dividend on the publicly traded series A
preferred stock (MIDLP). For every two shares of existing
preferred series A stock held by shareholders of record on the
close of the business day, May 29, 1998, a dividend of one share
of preferred will be issued. This dividend will automatically convert
to 35 shares of common stock on Oct. 1, 1999, <<<<<<<<
midl
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Midland Inc. Announces Clarifications & Previous DF-144 Terefiners 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.
CONTACT: Midland Inc., Houston
John H. Spriggs, 281/493-2722
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