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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: inchingup who wrote (9019)	6/22/1999 10:08:00 AM
From: vagabond	Read Replies (2) \| Respond to of 108040

I assume this is the PKDV news Manfred referred to... Vagabond -------------------- Tuesday June 22, 9:16 am Eastern Time Company Press Release Pan Kai Development USA Inc. Elects New Vice-Chairman After Receiving Billion-Dollar Environmental Contract LOS ANGELES--(BUSINESS WIRE)--June 22, 1999--The Board of Directors of Pan Kai Development (USA) Monday elected Miss Jou Yu-Pyng as the new Vice-Chairman of the board. Miss Jou Yu-Pyng comes to Pan Kai Development (USA), Inc. from Chuan-I Enterprise Co., Ltd. where she is a majority shareholder. Pan Kai Development (USA) (OTC BB: PKDV - news) has received a purchase order (purchase order No. 5168) from Chuan-I Enterprise Co., Ltd. for 300,000 ''Air/Combustion Enhancer Kits'' (Pollution Prevention Device) at NT$120,000 (approx. $3,750 U.S.) per unit, for a total of NT$36 billion (approx. $1.125 billion U.S.). The ''Air/Combustion Enhancer Kit'' (Patent No. Ti 056658 Hao -- issued by Republic of China) has been found to reduce emissions by up to 90% in test diesel engines while increasing both fuel efficiency and engine power. After approval of the tests, the use of this device has been mandated by the Ministry of Environment of Taiwan, and will be subsidized by the state. There are currently more than 500,000 commercial and industrial diesel engines in use in Taiwan. Pan Kai Development (USA) is currently working with a bank to obtain the necessary funding to commence this manufacturing job. This is a Taiwanese bank, which also has a branch in the United States, thus enabling it to move funds between Taiwan and the United States. Negotiations are under way to get this bank to fund the entire project through a letter of credit. Should the negotiations be successful, the repayment of these funds to the bank would be made directly by the Taiwanese Ministry of Environment upon completion and delivery of each batch. More information about this project can be found at the company's Web site at www.pankai.com This news release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, without limitation, the ability of Pan Kai Development (USA) to accomplish its stated plan of business. Although Pan Kai believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate and, therefore, there can be no assurance that the forward-looking statements included in this news release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by Pan Kai or any other person that the objectives and plans of Pan Kai Development (USA) will be achieved. Contact: Pan Kai Development (USA), Inc. G.W. Howell, 702/220-9797