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

To: 2MAR$ who wrote (10453)	6/30/1999 6:44:00 PM
From: Mr.Dragon	Read Replies (1) \| Respond to of 108040

ACTB NEWS OUT AFTER BELL: Related Quotes ACTB 0.380000 -0.020000 delayed 20 mins - disclaimer Wednesday June 30, 5:53 pm Eastern Time Company Press Release SOURCE: Action Sports International Progress Report on the Merger between Action Sports International And Manhattan Financing Corp. IRVINE, Calif., June 30 /PRNewswire/ -- James Whitey, jointly-elected spokesperson for Action Sports International (OTC Bulletin Board: ACTB - news) and Manhattan Financing Corp., reported today, that ''I am very excited to report that the Manhattan branch of the Bank of India is in the process of approving a ten million dollar line of credit to Action Sports and hope this will be finalized within the next five banking days. This financing will allow the company to expand its present manufacturing capabilities, easily upon demand, considering its new alliance with Trans National Sports, and the amount of sales volume that should arise out of that agreement. The company also plans to use this financing to give it more leverage in continuing with its aggressive acquisition campaign.'' ''I would also like to mention,'' Mr. Whitey continued, ''that the strength of Manhattan Financing was paramount in arranging for this line of credit.'' Manhattan Financing, a privately held company in Manhattan, New York, has assets estimated at 30-50 million dollars, depending upon accounting practices, and has extensive real estate holdings throughout the world. The two companies are currently finalizing merger negotiations. Mr. Whitey further declared that he will continue reporting the progress of the merger to the shareholders of the company. 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