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To: Takeover who wrote (7540)	7/15/1999 8:07:00 AM
From: Rock_nj	Respond to of 9115

ACTB Merger News! Thursday July 15, 7:30 am Eastern Time Company Press Release SOURCE: James Whitey Successful Merger Between Action Sports International And Manhattan Financing Corp. IRVINE, Calif., July 15 /PRNewswire/ -- As of yesterday morning, the merger between Action Sports International (OTC Bulletin Board: ACTB - news) and Manhattan Financing Corp. was successfully completed, whereby the stockholders of both companies should enjoy the benefits of this merger. ''The stock for stock acquisition of Manhattan Financing by Action Sports International, should add approximately $30 million of hard assets to the company's balance sheet, the final figures to be revealed upon completion of the audit,'' reported James Whitey, jointly-elected spokesperson for both companies. Mr. Whitey concluded his statement by saying that, ''Both companies now look forward to new growth opportunities that may avail themselves as a result of this merger.'' 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: James Whitey