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To: John Soileau who wrote (40432)	9/17/1999 10:53:00 PM
From: TD	Respond to of 116762

Does anyone know what this technology is? NANA : NEW ANACONDA CO (THE) (OTC:BB) The New Anaconda Company Announces the Bid To Acquire 100% Intellectual Property Rights SALT LAKE CITY, Aug. 17 /PRNewswire/ -- The New Anaconda Company (OTC Bulletin Board: NANA) is pleased to announce that it has today tendered a bid to Harnell Trading Limited to acquire 100% of the intellectual property rights to the proprietary technology currently under license to the Company's wholly owned subsidiary, Anglo American Metals, Inc. This technology is used to process combined metal oxides which result in high volume, high quality oxide products being produced together with the extraction of precious metals. Currently the terms of the license are such that 65% of the revenues derived from the production of the precious metals is retained by the licensors, Harnell Trading Limited and their related parties. The tender comprises an offer to exchange 20 million new issued shares of Common Stock of the Company together with the retirement of existing contractual obligations in the amount of $4.8 million for the transfer of 100% of the intellectual property rights to the technology. Paul de Rome, President of the Company stated, "The acquisition of the intellectual property rights to the technology will result in the Company being able to consolidate all the revenues which would have been paid away and therefore the opportunity to acquire the technology prior to the implementation of the proposed production plant in Texas is considered to be at a considerably reduced cost than would accrue once production is underway." The foregoing press release contains forward-looking statements. For this purpose any statements contained in this Press Release that are not statements of historical fact may be deemed to be forward-looking statement. Without limiting the foregoing, words such as "may" "will", "believe", anticipate", "estimate", or "continue" or comparable terminology are intended to identify forward-looking statements. These statements by their nature involve substantial risks and uncertainties, and actual results may differ materially depending on a variety of factors. ---------------- SOURCE: The New Anaconda Company CONTACT: Investor Relations for The New Anaconda Company, Salt Lake City, Fax: 801-355-2990