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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 (2122)	1/10/2000 7:24:00 PM
From: Vince Moretto	Read Replies (1) \| Respond to of 2153

Company Press Release (BIG CLUE) Leah Industries Inc. Makes Announcement TYUMEN, Russia--(BUSINESS WIRE)--Jan. 10, 2000--The board of directors of Leah Industries Inc. (OTC BB:LEAH) has approved taking the company private. Leah will offer one (1) new $25 par value 8% preferred share for every three common shares of Leah. The preferred shares will be redeemable in five years and the company will be allowed to buy in the open market preferred shares within that time frame. The preferred shares will also be callable within the five year period at a premium of 10%. The shares will be a quarterly dividend of $0.50 per share commencing no later than June 30, 2000. As well, on every June 30 until the shares are redeemed, the preferred shares will be entitled to a special, additional dividend of 10% of the pretax cash flow of the company, which will be distributed on a pro-rata basis. It is the intention of the board of directors of Leah Industries to list the shares for trading on an appropriate exchange as soon as possible. The major shareholder has approved the offer and commencement of the exchange will begin as soon as possible. The board of directors is anticipating closing no later than the end of February 2000. Contact: Leah Industries Inc. Vladimir Gromnyko, 416/287-5055 e-mail: leahind@hotmail