El, I received following in email yesterday from Barry. It explains dip in valuation.:
The following Press release was issued this morning. Please call or
e-mail me if you have any further questions.
Thank You
Barry Goverman
Vice President
____________________________________________________
FOR IMMEDIATE RELEASE
AMCOR Capital Corporation Responds To Erroneous New York Times Article
COACHELLA, CA (June 26, 1998) - AMCOR Capital Corporation ("AMCOR" or
the "Company"; ACAP: NASDAQ) announced today, in response to recent
numerous inquiries regarding an increase in trading volume and decrease
in price of the Company's Common Stock, that this activity may be
attributable to an article that appeared in the New York Times on
Sunday, June 21, 1998, that contained erroneous statements regarding
certain litigation involving one of the Company's directors. Among
other misstatements, the New York Times mistakenly stated that AMCOR was
suing one of its directors; in fact, AMCOR is not involved in any
litigation with any of its directors. The New York Times has apologized
for the error and printed a correction on Tuesday June 23, 1998.
Separately, AMCOR announced, on Tuesday, June 23, 1998 that its
subsidiary, AMCOR Biomass, Inc. ("AMCOR Biomass") was just awarded a
long term, $6.7 million waste transport contract by USA Waste Services
of California, Inc. ("USA Waste", a subsidiary of Houston, Texas-based
USA Waste, Inc, the third largest waste hauler in the Country). The
announcement also stated that in a second agreement with USA Waste,
AMCOR Biomass has begun diverting a portion of the green waste collected
by USA Waste from California landfills under the California Integrated
Waste Management Act.
AMCOR is currently one of the only Nasdaq-traded companies in California
with a biomass/recycling operation (green waste and tree maintenance).
The Company's other two operating divisions include a fully integrated
agricultural division, and a transitional land planning/development
division.
AMCOR maintains a presence on the Internet at www.amcorcapital.com.
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