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To: Jim Bishop who wrote (3735)	7/14/1999 5:25:00 PM
From: SSP	Respond to of 150070

CHES, Well it looks like Growth Fund Partnership is real #reply-1819902 Growth Fund Partnership makes offer for Carmelita Carmelita Resources Ltd CFH Shares issued 9,081,324 Jul 22 close $0.60 Wed 23 Jul 97 News Release Mr Harvey Smith reports Carmelita has received an offer from Growth Fund Partnership, of North Miami Beach, Florida, to acquire all of the issued shares of the company. Growth Fund is proposing to acquire the company's shares in exchange for US$50,000,000 principal amount of Growth Fund's common shares. No exchange ratio has been provided. Additionally, Growth Fund's offer has not been made in accordance with the requirements of the Securities Act (British Columbia). Until the company receives further details relating to the offer, including, among other things, the proposed share exchange ratio and corporate information relating to Growth Fund in a takeover bid circular prepared in accordance with applicable securities laws, the company's directors and officers are unable to adequately assess the merits of the offer. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com