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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: Taki who wrote (119577)	9/17/2003 9:24:23 AM
From: Taki	Read Replies (2) \| Respond to of 150070

EPYR.05.Good news.Small floater. B: Empyrean Communications Inc. Secures 'Teaming' Arrangement for Subsidiary B: Empyrean Communications Inc. Secures 'Teaming' Arrangement for Subsidiary HOUSTON, Sep 17, 2003 /PRNewswire-FirstCall via Comtex/ -- Empyrean Communications Inc. (OTC Bulletin Board: EPYR) announced that its wholly owned subsidiary, Basalt Fiber Company (BFC), has signed a confidentiality, non-disclosure and non-circumvention agreement with a private company that has been in business since 1989. This agreement was required to allow the parties to negotiate the terms, conditions and finances of a 'teaming' agreement to be completed between the two parties. More specific and detailed information will be provided as soon as the 'teaming' agreement is finalized. If completed under current preliminary terms, this arrangement will allow for BFC to commence production of continuous basalt fiber for sale to the teaming partner as soon as practicable. The teaming partner has indicated that it will be necessary, in order to implement one of its product expansion plans, to purchase all the basalt fiber that BFC can produce. The need to establish more than one manufacturing facility is a distinct possibility under the teaming arrangement. BFC will also provide services as Technical Consultant to the teaming company and assist in their R&D program. Since management considers this business arrangement to be superior to the earlier reported offer for a possible merger, EPYR has terminated negotiations with that potential merger party. Note: "Safe Harbor" Statement Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development are forward looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. SOURCE Empyrean Communications Inc. CONTACT: Robert L. Lee of Empyrean Communications Inc., Houston, TX, +1-713-260-7236; Howard Scala of Wall Street Communications I c., Tarpon Springs, FL, +1-800-338-9338 URL: prnewswire.com Copyright (C) 2003 PR Newswire. All rights reserved. -0- KEYWORD: Texas INDUSTRY KEYWORD: TEX OTC SUBJECT CODE: OTC * end of story *