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

To: James Lee Baldwin who wrote (3105)	6/26/2000 9:41:00 AM
From: James Lee Baldwin	Read Replies (1) \| Respond to of 3222

SETO Announces a New Joint Venture Marketing Company A.V.S. HOLDINGS Sdn Bhd in Malaysia BRIARCLIFF MANOR, N.Y., Jun 26, 2000 (BUSINESS WIRE) -- To Sell Cellular Phone and Power Tool Batteries and Accessories to Wholesalers, Distributors and Retailers in South East Asia SETO Holdings, Inc. (OTCBB-SETO) today announced that it has incorporated a joint venture company between Fuji Fabrication Sdn Bhd, a wholly owned subsidiary of SETO Holdings Inc. and an experienced team of cellular phone distributors with long term relationships throughout Asia. Fuji Fab will hold a 70% ownership of the joint venture with 30% for the partners. The new company will operate out of the Fuji Fab office and manufacturing facility in Penang, Malaysia, to minimize costs. The partners and Fuji both having an established name throughout Asia will get the new sales going in a short period of time. The forecast in the first few months is over $50,000 per month and reaching $100,000 per month by the 9th month, that is first quarter of 2001. Expansion into other countries is in the planning stage to be part of the SETOMobileWorld and SETOMultiMediaWorld (trademarks) of SETO . Profit margins are expected to be higher percentages (over 11% net with gross profit margins averaging 30% to 50%), than the present percentages mostly due to the increase in volume and the use of SETO Li-Ion cells, recently announced. (see: news release of June 29, 2000). Adding a team of experienced technical sales people as partners will support our efforts to gain an increased market share in S.E. Asia as this huge market grows for wireless communications with cellular phones, lap tops, note books and palm computers, made by manufacturers such as: Nokia, Motorola, Siemens, Samsung and others, said, Mr. Tan Hun Chin, a Director of SETO. About SETO Holdings, Inc. Founded in 1975, SETO Holdings, Inc. 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; and Consumer Products such as cellular phone batteries, rechargeable batteries for uses, consumer electronics and telecommunication devices. Please visit the Company's web sites: www.SETOHOLDINGS.com, www.stidiamond.com, www.ecsceramics.com, www.setoEmall.com, www.hk-batteries.com.hk Included in this release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations reflected in such forward-looking statements will prove to have been correct. The company's actual results could differ materially from those anticipated in the forward-looking statements as a result of certain factors including sales levels, distribution and competition trends and other market factors. CONTACT: SETO Holdings, Inc. Thomas Fisher Public Relations Manager Tel: (914) 923 5000 Fax: (914) 923 6225 e-mail: stiandecs@aol.com setofisher@aol.com URL: businesswire.com Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. Copyright (C) 2000 Business Wire. All rights reserved. Distributed via COMTEX. KEYWORD: NEW YORK INDUSTRY KEYWORD: BANKING TELECOMMUNICATIONS COMPUTERS/ELECTRONICS