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Microcap & Penny Stocks : Leah Industries, Inc. (OTC-BB-LEAH) -- Ignore unavailable to you. Want to Upgrade?

To: Nicholas P. Acquaviva Jr. who wrote (2120)	12/2/1999 11:45:00 AM
From: Baldur Fjvlnisson	Respond to of 2153

Leah Industries, Inc. Is Pleased To Announce the Signing of Its First of Many Oil-Related Acquistions Business Editors TYUMEN, Russia--(BUSINESS WIRE)--Dec. 2, 1999-- Leah Industries, Inc. has reached agreement to acquire 70% of Spars Plus Grupa Ltd. for a price of seven million dollars ($7,000,000). Spars owns gas stations and a refinery in the Baltic states. This transaction provides synergy for Leah as Sib Mach can provide the oil required for sale. This will serve to dramatically improve profit margins for Spars. The balance of 30% will be retained by present Spars Plus Grupa Ltd. management. Sales for Spars in the latest fiscal year exceeded six million dollars with cash flows in excess of eight hundred thousand dollars. Leah will also provide three million dollars in expansion capital as the gas station market is underserved in the Baltic states. Spars Plus Grupa management has projected sales of forty million dollars in three years with the additional expansion capital made available with improved margins. Certain statements in this press release constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements, expressed or implied by such forward-looking statements. --30--bpm/cgo* CONTACT: Leah Industries, Inc. V. Gromnyko, 416/287-5055 fax: 416/661-0405 leahind@hotmail.com KEYWORD: INTERNATIONAL EUROPE INDUSTRY KEYWORD: OIL/GAS MERGERS/ACQ Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com Dec-02-1999 09:19 GMT Symbols: US;LEAH Source BW Business Wire