LITTLETON, Colo.--(BUSINESS WIRE)--March 7, 1997--Phoenix Resources Technologies Inc. (OTC:PRTI), Friday announced the following new directors
and corporate officers of the company, as follows:
Michael A. Puhr, president, chief executive officer, treasurer and director. Puhr has held positions with Rocky Mountain Crystal Water Inc. since July 1994.
From December 1991 through the present, he has also been affiliated with World Marketing Alliance, Englewood, Colo. as a registered representative, where he
specialized in conservative investments such as fixed annuities, mutual funds and variable contracts and other tax advantage investments.
From November 1990 through July 1993, Puhr was the director of purchasing and finance for the Denver Housing Authority, Denver. Prior, Puhr spent over 21
years in the United States Marine Corps, retiring as a major in September 1990. Twice he was named top finance officer in the Marine Corps by the commandant
of the Marine Corps for his innovative cost control measures and for designing and automating financial systems.
Puhr obtained a bachelor's degree in business from Chaminade University, Hawaii in 1980. He devotes all of his business time to the affairs of the company.
Lorinda Liang, executive vice president, secretary and director. Liang has held her positions with Rocky Mountain Crystal Water Inc. since July 1994. From
January 1992 through March 1993, Liang was president of L.L. Chens Inc., an import/export marketing company located in Littleton. From April 1990 through
December 1991, Liang was senior vice president for the department of international investments for Hui Yang Construction Co., a construction company with its
principal place of business located in Taipei, Taiwan.
From October 1989 through April 1990, Liang was the executive vice president for the department of international marketing for Fortune Globe Properties, a
domestic and international mortgage company located in Taipei. From October 1988 through September 1989, Liang was general manager of the overseas
marketing department for First Construction International Mortgage Co., Taipei, a mortgage company.
Liang is fluent in six languages, including English, Chinese, Taiwanese, Italian, Spanish and French. In 1993-94, she was selected as international Woman of the
Year by the International Biographical Centre of Cambridge, England in recognition of her services to the business world. She was also awarded a certificate of
merit for distinguished services in 1994-95 in "The World Who's Who of Women" book published in Cambridge.
She has also been involved with the National Association of Female Executives and was the vice president of the International Lions Club. Liang obtained her
bachelor's degree and master's degree in biochemistry from the University of Colorado in 1984. She also earned an associate's degree in electronics from Denver
Technical College in 1986. She devotes all of her business time to the affairs of the company.
Wen Jen (Allen) Lan, international vice president and director. Lan has held his position with Rocky Mountain Crystal Water Inc. since July 1994. In addition to
his positions with the company, since April 1992, Lan has been president of Chuann-Chya Enterprises Co. Ltd., Taipei, which has been in operation for more
than 20 years as a company specializing in imports and exports of frozen canned foods and machinery.
He has successfully been involved with the Audi C.I.S. project in Taipei, where he designed the commercial marketing plans for the Pacific Rim. From October
1991 through March 1992, Lan worked as a project consultant with One Construction Co. in Taipei. From June 1990 through September 1991, he served as
instructor for the Chinese Productivity Center, Taipei.
From June 1990 through September 1991, he served as sales manager for Cong Long Co. Ltd., Taipei, where he specialized in foreign country real estate and
commercial development. From June 1988 to June 1990, he held the position of management director/chairman of the board special assistant for Kuo-Yang
Technology, Taipei. In May 1988, Lan successfully completed a $6 million funding for development and construction of Macau Horse, the largest horse racing in
Macau.
Additionally, the company today announced that an unsolicited offer has been received by company management for oil and gas operations. The board of directors
stated, "The offer is from MVP HOLDINGS Inc. of Fountain Hills, Arizona. The offer made was shares of MVP HOLDINGS Inc. in the amount of PRTI's
historical cost of $12.7 million. The PRTI board has called a 'special board meeting' to analyze this offer and is already conducting due diligence.
"The board shall make an announcement the week of March 10, 1997, as toward this matter and any other matters that are placed before the meeting and directors.
Further, the operational cost of existing oil and gas operations are being analyzed as per their actual income potential, without 'HUGE' amounts of development
cost therein attributable. Further, the location of these properties and management thereof on a local basis is a critical factor. Oil and gas development is high risk at
best.
"Further, management is looking strongly at liquidity of said sales consideration and as to the benefits to the PRTI shareholders in book value and other
considerations. Although, this offer is unsolicited, management has a very arduous meeting over the weekend. Further, pursuant to initial contract the past
management of PRTI has post-closing events and matters to wind-up prior to full closures of the initial transition."
CONTACT: Phoenix Resources Technologies Inc.
Michael A. Puhr, 303/730-7888
or
Travis G. Miller, E-Mail: tgmphx@aol.com
REPEATS: New York 212-752-9600 or 800-221-2462; Boston 617-236-4266 or
800-225-2030; SF 415-986-4422 or 800-227-0845; LA 310-820-9473
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