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

To: Jim B who wrote (12766)	7/27/1999 1:29:00 PM
From: Koda Ridge	Respond to of 108040

CHES--Acquisition of Pharma Online is complete! Big news. Eric (BSNS WIRE) Chester Holdings LTD Announces Completion of PharmaOn-line.c Chester Holdings LTD Announces Completion of PharmaOn-line.com Business Editors FLANDERS, N.J.--(BUSINESS WIRE)--July 27, 1999--Chester Holdings Ltd. (Electronic Bulletin Board symbol: CHES) today announced that is has completed the acquisition of PharmaOn-line.com from the Gladstone Group Inc. PharmaOn-line.com has developed proprietary software, which will be provided free of charge to independent and chain pharmacies throughout the United States allowing them to locate, price and order generic drugs via the Internet. Michael O'Shea, President of Chester Holdings Ltd., stated, "I am extremely pleased with the completion of this acquisition. PharmaOn-line is the first of several planned acquisitions and is particularly significant in that it will provide the Company with a source of revenues in the near term. At present, even national chain pharmacies often order generic drugs on a store by store bases. PharmaOn-line will be the first to offer the advantage of multi-site purchasing through the convenience of the Internet." In a related transaction, the Company has signed a management agreement with Gladstone Group, Inc. of Mt. Arlington, New Jersey, calling for Gladstone to manage the day to day operations of PharmaOn-line and to market the program through Gladstone's existing pharmacy contacts throughout the United States. R&S Technologies Inc., a Kentucky based wholesale drug distributor, will fulfil the PharmaOn-line.com orders. "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 acquisition and successfully reorganize and resume operations as stated in any forward looking statements 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 information please fax requests to 1-864-962-8638 or contact Linda Pellegrino at 1-202-433-4988. --30--sla/ny* bh CONTACT: Linda Pellegrino, 202/433-4988 KEYWORD: NEW JERSEY INDUSTRY KEYWORD: BANKING PHARMACEUTICAL COMPUTERS/ELECTRONICS COMED Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com * end of story *