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To: GARY P GROBBEL who wrote (21405)	6/16/2004 10:27:01 AM
From: Joseph B. Schmidt	Respond to of 120415

Gary, Remember my lottery ticket, EPYR? News today, finally... Empyrean Communications Inc. Reports Acquisition of Basalt Specialty Products, Inc. near Finalization HOUSTON, Jun 16, 2004 (BUSINESS WIRE) -- Empyrean Communications Inc. (OTCBB:EPYR) announces that talks to acquire all of the shares of Basalt Specialty Products, Inc. (BSP), a NC corporation, through a stock swap, have been completed. The definitive terms for this acquisition that will make BSP a wholly owned subsidiary have been finalized and the acquisition agreement will be signed within the next 3 to 4 weeks. BSP has leased a factory and offices, totaling 22,750 sq. feet located at 600 E. Main Street, Elkin, NC 28621 and holds $180,000 of raw materials in inventory. 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. Empyrean Communications Inc., Houston Robert L. Lee, 713-260-7236 Customize your Business Wire news & multimedia to match your needs. Get breaking news from companies and organizations worldwide. Logon for FREE today at www.BusinessWire.com. -------------------------------------------------------------------------------- Copyright (C) 2004 Business Wire. All rights reserved. News provided by