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To: dreamer who wrote (83776)	5/7/2001 10:04:06 AM
From: Tommy Chester	Read Replies (1) \| Respond to of 150070

BSNS WIRE) Cala/Mancini File Form 8-K Changes in Control of Registrant Cala/Mancini File Form 8-K Changes in Control of Registrant Business Editors SAN FRANCISCO--(BUSINESS WIRE)--May 7, 2001--Joseph Cala, chairman and CEO of Cala Corporation (OTCBB:CCAA), and Quirino Caparrelli, general manager of Mancini I.M.O.I.L., imoil.com announced they have filed the Form 8K with the Securities and Exchange Commission. Cala Corporation and Mancini I.M.O.I.L., Srl Italy, have entered into a merger acquisition agreement where Mancini I.M.O.I.L. will receive $5,000,000.00 worth of 3 year restricted shares valued based upon the closing ask price on the day immediately preceding closing. An initial payment of 10,000,000 shares have been issued to the Mancini's in January 2001, from shares that were returned to the treasury by Giuseppe Cala in order to facilitate the merger. The merger also calls for Mancini I.M.O.I.L. to merge their privately held business, not including the company real estate, with annual revenues of approximately $20,000,000.00 for the year 2001 under Cala Corporation. In addition, Mancini will have full control of the Board of Directors when the merger is finalized. Giuseppe Cala will remain as chairman and CEO of the company indefinitely. The merger/acquisition, which was effective retroactive to 1/01/01, will be incorporated in the first quarter filing (10Q) reported under generally accepted United States accounting principles. The 10Q will be filed by May 15, 2001. Financial Statements will be released with the proxy and filed with an amendment to this 8-K. About Mancini I.M.O.I.L. Mancini I.M.O.I.L. has been producing and selling olive oil products for over 40 years. Annualized revenues are approximately USD $20M. Today, USD $6M of which are realized in the United States. Currently, Mancini olive oil is distributed in the United States by Manzo Foods, Miami, Fla., under the labeling of Genesio which is sold to Romano's Macaroni Grill Restaurants, a division of Brinker International brinker.com (NYSE:EAT). More information about Mancini I.M.O.I.L. is available at imoil.com. About Cala Corporation Headquartered in San Jose, Calif., Cala Corporation is a developer of international businesses with a corporate emphasis on Undersea Resort hospitality. Cala Corporation provides over 20 years of experience on doing business globally. The corporation's international infrastructure extends from the United States to Europe and Asia. 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. --30--lr/sf* CONTACT: Cala Corporation/Mancini, San Jose Joseph Cala, 408/984-3663 KEYWORD: CALIFORNIA FLORIDA ITALY INTERNATIONAL ASIA PACIFIC EUROPE INDUSTRY KEYWORD: FOODS/BEVERAGES RESTAURANTS RETAIL 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 *