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Gold/Mining/Energy : Admiral -- Ignore unavailable to you. Want to Upgrade?

To: David Michaud who wrote (7)	3/2/2000 12:35:00 AM
From: David Michaud	Respond to of 8

Toronto, ON - February 29, 2000 - Admiral Inc. (ADS:CDNX): Admiral Inc. ("Admiral") announced today the execution of a letter of intent providing for the acquisition of Winnipeg-based Man Chem, an operating division of Imperial Soap and Supplies Ltd. The letter of intent is subject to customary conditions including satisfactory due diligence, regulatory approval, and the completion of definitive documentation. The acquisition is set to close within 30 days. Man Chem is manufacturer and supplier of warewash, laundry, and institutional and industrial cleaning chemicals and provides full service for its cleaning chemical dispensing systems and high temperature dish machines. Man Chem products are being distributed to over 750 institutions, commercial and industrial facilities across western Canada. "Man Chem's key management team and operations will complement our existing warewash and laundry business and at the same time provide Admiral with distribution and service capabilities for all our product lines in western Canada", says Edward Bayer, President of Admiral Inc. "With Man Chem becoming part of Admiral we will operate efficiently from coast-to-coast and therefore can aggressively pursue additional national supply contracts from major-sized customers." About Admiral: Admiral Inc. manufactures and distributes over 200 proprietary environmentally friendly specialty cleaning products, marketed to businesses and institutions including health care facilities, supermarket chains, food service operators, food and beverage processing and industrial companies. Admiral Inc. is a growth-oriented company developing new state-of-art cleaning products and capitalizing on its leadership position in sanitation solutions for the environmental, health and safety conscious marketplace. Admiral Inc. is a public company whose shares are listed for trading on the "Tier 1" of the Canadian Venture Exchange under the stock symbol: "ADS". The Company has a total of 17,281,641 shares outstanding fully diluted. For more information about Admiral Inc. visit www.admiral-inc.com and www.investorfile.com.