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Microcap & Penny Stocks : Restaurant Teams International, Inc.-RTIN -- Ignore unavailable to you. Want to Upgrade?

To: E'Lane who wrote (3231)	8/16/2000 8:34:38 AM
From: E'Lane	Read Replies (1) \| Respond to of 3351

Wednesday August 16, 8:02 am Eastern Time Press Release Restaurant Teams International Inc., Disputes Statements made by Oxford Commercial Funders LLC LONGVIEW, Texas--(BUSINESS WIRE)--Aug. 16, 2000--Restaurant Teams International, Inc. (NASD OTC BB: RTIN), expressed its outrage today concerning what the company believes to be fragmented and misleading statements contained in Oxford Commercial Funders LLC (``Oxford'') press release dated August 15, 2000. The company believes this tactic, along with the uncontrolled sale of stock on the market, can only be viewed as an attempt by Oxford to injure the company and gain the upper hand in settlement negotiations with RTIN. The company is currently consulting with its litigation counsel to explore potential claims it may have against Oxford and Ron Berthiaume as well as Seyfarth & Shaw and William Factor, Esq., Oxford's attorneys. Curtis A. Swanson, Chief Financial Officer stated, ``We are greatly disappointed in the malicious actions taken by Oxford. Oxford is well aware that the judgement has been partially satisfied and that RTIN is committed to repay the balance. The company has been doing everything in its power to position its self to eliminate the debt in the near term. This commitment was reiterated in the most current company conference call. RTIN incurred this debt with Oxford during the attempt to close the Fatburger acquisition in May of 1999 where Oxford had failed to provide the balance of the funding to complete the acquisition.'' Stanley L. Swanson, RTIN's CEO stated, ``The press release issued by Oxford, in my opinion, was the most arrogant and unprofessional press release I have ever encountered. It is riddled with fragmented information, which leads to inaccurate conclusions. In spite of this audacity, we will continue to pursue all avenues and proceed with our current plans to restore our shareholders' value. As previously announced, the Company plans to franchise the Tanner's Original Rotisserie Grill (TM) concept throughout the states of Georgia and Texas. The Company also intends to spin-off the Regulatory Solutions (''RSI``) a wholly owned division of RTIN into a separate public company, which will create a dividend for the current shareholders of RTIN. The company intends to execute this plan of action as soon as possible following the resolution of this situation with Oxford and the eminent resolution of the RSI situation.'' Mr. Swanson further stated, ``The Oxford judgment is basically the only thing holding us back from what promises to be a very positive future for this Company and our shareholders.'' Restaurant Teams International, Inc., d.b.a. RTIN Holdings, is a public holding company whose stock trades on the fully reporting NASD OTC BB. The Company owns Regulatory Solutions, Inc., a workplace safety and regulatory compliance division out of Dallas, Texas. Additionally it owns an operates seven full service casual dining restaurants under the trade name ``Tanner's Original Rotisserie Grill (TM)'' in Atlanta, GA, and one Street Talk Cafe restaurant in The Colony, Texas. This press release may contain forward-looking statements, which are generally preceded by words such as ``believes,'' ``expects,'' ``anticipates,'' or ``intends.'' Such statements are subject to risks and uncertainties, including but not limited to competitive conditions, real estate zoning and permitting complications, government regulations, and general conditions in the restaurant market. Certain statements in this news release may constitute ``forward-looking'' statements within the meaning of section 21E of the securities and Exchange Act of 1934. Such forward-looking statements involve risks, uncertainties and other factors, which may cause the actual results, performance, or achievement expressed or implied by such forward-looking statements to differ. -------------------------------------------------------------------------------- Contact: Seeds Capital Corporation Alex Tsakumis, 800/245-2340 or Kevin Leigh, 818/993-3227 kevin@Investor-gate.com or Chuck Kowalski, 813/221-6617 kowalski@Insiderstreet.com biz.yahoo.com