To: joepcf who wrote (37949 ) 3/20/2000 9:25:00 AM From: SSP Read Replies (2) | Respond to of 150070
QPRC(list stock news) - Quest Products Announces New Board Member; Business Update SYOSSET, N.Y., March 20 /PRNewswire/ -- Quest Products Corporation (Nasdaq: QPRC) announced today that its Board of Directors has elected Thomas Kirch to join the Board effective immediately. Mr. Kirch is presently the managing partner of KV Partners, fixed income consultants and asset managers. Mr. Kirch is formerly a Managing Director of The First Boston Corporation, one of the nation's largest investment banking firms, as well as a First Vice President of Loeb Rhoades, Hornblower, and a Vice President at Morgan Stanley & Co., Inc. With the addition of Mr. Kirch to the Quest Board of Directors, the Company now has three members of its Board with significant experience and contacts in the investment banking and Wall Street community. Mr. Kirch is now working along with Directors Richard A. Bruno and Milton J. Walters to secure up to $15,000,000 in financing for the Company, to be used primarily for marketing of Quest's revolutionary new polarized sunglass product and for acquisitions. Mr. Bruno is a former Managing Director of NASDAQ trading at Paine Webber Inc., in New York and has more than 25 years experience in the brokerage and investment banking community. Mr. Walters is president of Tri-River Capital Group, a company that serves the specialized investment banking needs of the financial service industry. Quest Products also announced that it is in negotiations with Opsales of Island Park, New York, for the manufacture of the Company's rotatable, variable polarized lenses to be used in Quest's new sunglass product. Opsales is one of the largest processors of polarized materials in the world. Opsales has the capacity to manufacture, on a timely basis, the projected lens inventory required for Quest's Sunglass Program. According to Herbert M. Reichlin, Quest's president: "The Company is excited that the process of launching our new sunglasses has finally arrived. Management is determined to make sure that all prudent steps are taken to best ensure the likelihood that the sunglasses will be a huge success in the marketplace." "Safe Harbor" Statement under the Private Securities Litigation Reform Act: Statements in this release which are not historical facts are forward-looking and involve a number of risks and uncertainties, including but not limited to, the Company's limited operating history, uncertainties of market acceptance of products, uncertainties of new product development and other risks. Contact: Herbert M. Reichlin of Quest Products Corporation, 516-364-3500 SOURCE Quest Products Corporation -0- 03/20/2000 /CONTACT: Herbert M. Reichlin of Quest Products Corporation, 516-364-3500/ (QPRC)