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To: KZAP who wrote (11314)	6/28/1999 4:31:00 PM
From: Mr.Dragon	Respond to of 52051

NEWS OUT FOR ACTB: Monday June 28, 3:57 pm Eastern Time Company Press Release SOURCE: Action Sports International Eastern European Markets Opened by Action Sports International IRVINE, Calif., June 28 /PRNewswire/ -- Jointly-elected spokesperson for Action Sports International (OTC Bulletin Board: ACTB - news) and Manhattan Financing Corp., James Whitey, announced today that, ''The merger is proceeding very well, and once all of the paperwork has been completed by both parties, all of the details of the merger will soon be disclosed to the public.'' Mr. Whitey also stated that, ''Due to the strength of Manhattan Financing's reputation in the international arena, we are proud to announce that a definitive agreement has been signed between Action Sports and Trans National Sports, one of the largest Eastern European distributors of sporting goods and apparel. This will allow Trans National to have distribution rights to Action Sports' complete line of products, which include snowboards, wakeboards and apparel. As a result of this new distribution alliance, management feels that sales should increase by 30% in fiscal year 2000'' Trans National has over three decades of experience in sporting goods distribution, and has offices located in Athens, Greece; Stuttgart, Germany; Vienna, Austria; Warsaw, Poland and most recently Moscow, Russia. Except for historical matters contained herein, the affairs discussed in this press release may contain forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may reflect assumptions and involve risks and uncertainties that may affect Action Sports International's future business and prospects and could cause actual results to differ materially from these forward-looking statements. SOURCE: Action Sports International More Quotes and News: Action Sports Ltd (OTC BB:ACTB - news) Related News Categories: household/consumer, retail, sports, textiles