To: Jim Bishop who wrote (64986 ) 9/26/2000 3:28:33 PM From: Jim Bishop Read Replies (2) | Respond to of 150070 CCAA sheesh, more news OKLAHOMA CITY--(BUSINESS WIRE)--Sept. 26, 2000--Joseph Cala, Chairman and CEO of Cala Corporation (OTCBB:CCAA), today announced that Cala of Italy, a wholly owned subsidiary of Cala Corporation, has acquired a 51% interest in Pedana Costrufer of Italy, a prestigious design and construction company specializing in boutique hotel and spa projects. This acquisition makes provisions for the management of Pedana Costrufer of Italy to become employee affiliates of Cala of Italy. Mr. Cala reported that this acquisition will generate $2.5 million in revenues starting in the fourth quarter of 2000. Future contracts booked by Pedana Costrufer of Italy are estimated at $10 million. Mr. Cala also reported that the prestigious auditing firm of Fratelli Malatesta will handle this transaction. Fratelli Malatesta is a global merger and acquisition firm with offices in Rome and Brussels. Cala Corporation is an expanding global hospitality company headquartered in San Francisco/Silicon Valley with offices in Oklahoma City, Milan, Italy, and Catania, Sicily. About Cala Corporation Cala Corporation is a developing international hospitality company with a corporate emphasis on the ownership, operation and management of hotels, hotel-based restaurants, and real estate development. Cala Corporation is currently developing the Undersea Resort and Hotel project with proposed locations throughout the world. The information in this news release includes certain forward-looking statements as defined in the "Safe Harbor" provision of the Private Securities Litigation Reform Act of 1995. These statements are based upon assumptions that are subject to significant risks and uncertainties. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any of its forward-looking statements will prove to be correct. This press release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents. For further information on Cala Corporation, please contact 405/235-4960 or e-mail info@calacorporation.com. --30--SAM/dx* CONTACT: Cala Corporation, Oklahoma City Joseph Cala, 405/235-4960 info@calacorporation.com KEYWORD: OKLAHOMA CALIFORNIA ITALY BELGIUM INTERNATIONAL EUROPE INDUSTRY KEYWORD: TRAVEL BUILDING/CONSTRUCTION REAL ESTATE MERGERS/ACQ Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com *** end of story ***