Monday February 10 4:31 PM EDT
Nemdaco Spins Off Hydroponix, Inc. to Shareholders
LOS ANGELES, Feb. 10 /PRNewswire/ Nemdaco Inc today announced that it has declared a Stock Dividend of 1
share of Hydroponix Inc. Common Stock for each 4 shares of Nemdaco, Inc. Common Stock owned on the record
date of February 28, 1997. This announcement is made pursuant to an 8K filing made by the Company on January 27,
1997.
Hydroponix, Inc., (formerly "Nemdaco Attache Communications") employing the newest and most advanced
technologies in soil-less (hydroponic) growing systems, was formed for the specific purpose of growing and marketing
high quality specialty crops (initially tomatoes) in controlled environment greenhouses. This is in response to a
tremendous demand in the marketplace for superior quality produce, due to the inability of field growers to meet that
demand. Controlled environment facilities will be constructed in Puerto Rico (a U.S. possession). Each acre will
contain approximately 11,000 tomato plants, capable of producing over 396,000 pounds. Annual per acre revenues
are expected to be $495,000. The Company's business plan consists of the construction of 17 acres initially, continuing
expansion over the next 3 years to a total of 40 acres. David Duty, the CEO of Hydroponix, stated "Mainland food
brokers have pre-sold virtually all of the Company's production at top wholesale prices."
Bob Manning, Hydroponix Executive Vice President said "visit our web site at hydroponix.com. to get a
graphic illustration of the Company and its product." SOURCE Nemdaco Inc.
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