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

To: Ga Bard who wrote (12384)	7/21/1999 3:35:00 PM
From: vagabond	Read Replies (2) \| Respond to of 108040

CHES down, if anyone wants to add -- may be negative reaction to latest PR, which is perhaps more "vague" than some might have hoped... Vagabond =================== (COMTEX) B: Chester Holdings, Ltd. Makes Announcement B: Chester Holdings, Ltd. Makes Announcement FLANDERS, N.J., Jul 21, 1999 (BUSINESS WIRE via COMTEX) -- The following is an announcement from Chester Holdings Ltd: Chester Holdings, Ltd. (Electronic Bulletin Board symbol: CHES) Public trading in the stock of Chester Holdings, Ltd. has generated a significant amount of interest among investors in recent weeks and this Press Release is intended to summarize the plans and objectives of the Company as reported in recent releases. On June 3,1999 Chester announced that it was starting the process of reorganizing the Company and preparing the reports necessary to bring the Company current in its' SEC filing requirements. Currently the Company has no revenues and only very limited assets but is desirous of meeting the new requirements for a NASDAQ Bulletin Board listings. The Management of the Company is confident that it has a reasonable chance of success in achieving these goals. At the present time there are approximately 90 million shares of Common Stock outstanding with an estimated 45 million of those in the public float. On June 16,1999 the Company announced that it had entered into a Letter of Intent to acquire PharmaOn-line.com from Gladstone Group, Inc. PharmaOn-line has developed a proprietary software program which consolidates various generic drug sources and makes them available, on line, to member pharmacies. This program has been Beta tested and should be in full operational use before the end of 1999. Gladstone, with extensive relationships in the retail and wholesale pharmaceutical industry, will support the Company in marketing the system to its existing customer base. It is contemplated that this acquisition will involve cash consideration and will not be dilutive to existing stockholders. The Company believes that this transaction should be completed during August of 1999. More information on PharmaOn-line can be obtained on the web at www.PharmaOn-line.com. On June 30,1999 the Company announced that it had entered into an Agreement with Growth Fund International Limited of Brisbane, Australia. This Agreement calls for Growth Fund to provide Chester with up to $10 million to be used in connection with possible acquisitions. Growth Fund International Limited, presently in the process of obtaining a public quote on the Sidney Exchange, anticipates making funding available to Chester commencing in August of 1999. On July 14,1999 the Company announced that it had signed a Letter of Intent to acquire a substantial interest in Growth Fund Partnership, Inc. of North Miami Beach, Fl. which has no affiliation with Growth Fund International Limited of Brisbane, Australia. Growth Fund Partnership, Inc. is a privately owned holding company with audited financial statements as at December 31,1998 reporting net assets in excess of $3 Billion. The majority of these assets are non-revenue producing real estate holdings. The due diligence process involved in this transaction will be intensive, time consuming and costly. The Company does not expect to be in a position to complete this transaction until the fourth quarter of 1999. More information on Growth Fund Partnership, Inc. can be obtained by faxing a mailing address to 864-962-8638. In summary, the Management of the Company believes that the proposed acquisition of PharmaOn-Line, supported by an asset infusion from Growth Fund Partnership, Inc., will provide it with the necessary revenues, assets and cash needed to resume the Company's affiliation program with domestic and foreign corporations. Management cautions that, even though the above outlined prospects offer opportunities for the Company, there remains a significant amount of effort and funds required to be completed in order to achieve these goals. "Safe Harbor" Statement under the Private Securities Litigation Act of 1995; to the extent that this press release makes statements about the future, such statements are forward looking and subject to a number of risks and uncertainties, including, but not limited to, the inability to meet all of the required reporting requirements. These risks could effect the ability of the Company to complete acquisitions and successfully reorganize and resume operations as stated in any forward looking statements made by, or on behalf of the Company. There is no assurance that the Company will be able to achieve any of its intended objectives. For more information please FAX requests to 1-864-962-8638. Copyright (C) 1999 Business Wire. All rights reserved. -0- CONTACT: Chester Holdings, Ltd., Flanders Michael F. O'Shea, President 864/962-8638