NEWS RELEASE
AIRP-OTCBB
December 8, 1998
Management reported today that over the last four weeks, the Company had received demands to exercise approximately 3 million of its outstanding common stock warrants, exercised at a price of $0.15 per share, and accompanied by funds constituting the exercise
price.
Total warrant exercise funds received to date aggregate $450,000.00 and have been immediately used by the Company as additional working capital.
The Company is in the process of issuing the underlying common shares now due as a result of this warrant exercise. Most of the warrant holders are offshore, and the new shares to be issued will bear off shore legends on their certificates.
The Company has outstanding and non-exercised at this date, approximately 20 million additional warrants to acquire its common stock at an exercise price at $0.15 per share. Management does not know whether some additional part or all of these additional
outstanding warrants will also be exercised in the future. However, the Company continues to require an infusion of additional working capital in order to develop its business, and management is hopeful that additional outstanding warrants will be exercised.
Air Packaging Technologies, Inc.
By: GARVIN McMINN
Chairman & CEO
International Investor Relations Division
Rich Kaiser
email: rkaiser@series2000.com
#7576311094
800-595-9939
fax-7576311096
airbox.com
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