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Microcap & Penny Stocks : SETO Semicon Tools Inc. -- Ignore unavailable to you. Want to Upgrade?

To: KZAP who wrote (2742)	9/23/1999 9:02:00 AM
From: GARY P GROBBEL	Read Replies (2) \| Respond to of 3222

This should cause some excitement... (PR Wires) PRW: SETO Holdings, Inc. Announces Signing a Memorandum of U PRW: SETO Holdings, Inc. Announces Signing a Memorandum of Understanding, MOU, to Acquire the Largest Manufacturer of Battery Cells in China BRIARCLIFF MANOR, N.Y.--(BUSINESS WIRE)--Sept. 23, 1999--SETO HOLDINGS, INC.(OTC BB:SETO)- Mr. Gene Pian, SETO's President said, "Huanyu Power Sources Co. LTD is the largest manufacturer of battery cells in China for power tools sold throughout the world and is already an established manufacturer of battery cells for the computer, security and cellular phone industries. Huanyu Power has present volume capacity of 180 million cells per year that continues to grow rapidly. This acquisition will give SETO a significant edge to capture a sizable share of the OEM and replacement battery market worldwide. Our e-commerce site, www.fujifab.com, will expand to include all the Huanyu batteries for the OEM and consumer markets. Huanyu Power is located in the northern part of main land China and Shenzhen, which boarders Hong Kong and has approximately 500,000 SQ. FT of manufacturing space, with over 2,000 employees." Mr. Pian also said, "Huanyu has been growing at a very high percentage rate for the last few years. The forecast for 1999 assuming the present rate of sales and booked orders is $17+ million, with a net profit before tax of approximately $2 million. When combining Huanyu's present asset base and net worth with SETO Holdings, Inc., it will enable SETO to meet the requirements for a listing on a major stock exchange." The agreement is now being prepared to finalize the acquisition of Huanyu Power Sources Ltd., which is expected to be signed during October 1999. Terms were not disclosed except for the valuation of SETO stock for the acquisition which is to be $1.00 per share based on current market values. SETO HOLDINGS, Inc., formerly Semicon Tools Inc. has been a public Company since 1987 and operates as a broad based technical manufacturer in two major product groupings: Technical products to industry: inclusive of diamond tools, wafer fab supplies and technical ceramics. Consumer products: cellular phone batteries. "Safe Harbor" statement under the Private securities Litigation Reform Act of 1995 Statements contained in this release which are not historical facts are forward looking statements that involve risks and uncertainties that could cause actual results to differ from projected results. Factors that could cause actual results to differ materially include, among others, economic and political events in or effecting Malaysia, the Company's dependence on the semiconductor industry and other risk factors detailed in the Company's Securities and Exchange Commission filings. CONTACT: Investor Relations: LaGuardia GFS toll free 800/292-1361 email to: comercio@riogrande.net.com LaGuardia GFS web site: www.TwoTrades.com or www.DosComercios.com Company web sites: www.SETOHOLDINGS.com www.stidiamond.com www.ecsceramics.com, or www.fujifab.com email: stiandecs@aol.com 08:32 EDT SEPTEMBER 23, 1999 * end of story *