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Gold/Mining/Energy : CAPCO RESOURCES LTD.

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To: Steve Kirk who wrote ()	3/3/1999 12:49:00 PM
From: Steve Kirk	of 1

March 3, 1999 In Negotiations To Acquire Significant Resource Related Assets CAPCO RESOURCES LTD ("CPD-Y;CPCUF-L") - In Negotiations To Acquire Significant Resource Related Assets Kanti Shah, President of Capco Resources Ltd. (the "Corporation" or Capco") confirms that Capco is in negotiations to acquire significant resource related assets. Negotiations are ongoing and are not expected to be completed for approximately one week at which time more details will become available. Capco is not aware of any material changes in its affairs or assets which have not previously been disclosed. Capco also wishes to advise that the Annual General and Special Meeting of Shareholders scheduled for February 4, 1999 was adjourned until 10:00 a.m. on Thursday. March 11, 1999. At the adjourned meeting it is expected that certain amendments will be brought forward with respect to the payment to be received on the sale of Capco's shares of Meteor Industries Inc. In this regard, payment is proposed to be made to Capco by way or issuance of secured redeemable 5% preferred shares rather than debt instruments and the effective date of the transaction was amended from October 1, 1998 until January 1, 1999. No amendments to other resolutions before shareholders are expected.

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