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Microcap & Penny Stocks : Ustman Tech (USTX) formerly Watson Gen (WGEN) -- Ignore unavailable to you. Want to Upgrade?

To: Chris Nevil who wrote (41)	1/23/1998 9:53:00 AM
From: arizona_ice_tea	Respond to of 73

Watson General/USTMAN Completes Sale of Toxguard Statistical Inventory Reconciliation Now Sole Business Focus LAKEWOOD, Colo.--(BUSINESS WIRE)--Jan. 23, 1998--Watson General/USTMAN (Nasdaq:WGEN - news), the leading provider of statistical inventory reconciliation (SIR) services in the United States, completed the sale of Toxguard Fluid Technologies Inc., a wholly owned subsidiary, to Toxguard management on Jan. 20, 1998. The terms of the transaction were not disclosed. ''The disposition of Toxguard enables Watson/USTMAN to focus on statistical inventory reconciliation and related remote tank monitoring,'' said Dan R. Cook, Watson General president and CEO. ''Our core strategy remains unchanged: to significantly expand the number of underground storage tanks using our SIR services and to build a recurring revenue base from each UST being monitored.'' In December 1997, Watson/USTMAN announced the acquisition of Advanced Tank Certification (ATC), which was considered the fourth-largest provider of SIR services in the United States. The new USTMAN represents the combination of three of the four largest SIR providers, including USTMAN and Watson, Nos. 1 and 2 respectively. ''ATC's SIR operations are being relocated to Watson/USTMAN headquarters in Lakewood, Colo., in a strategic restructuring and consolidation, which is expected to be completed at the end of February 1998,'' added Cook. ''Annual cost savings from the restructuring and consolidation are estimated to be $600,000.'' Watson General/USTMAN, which will be renamed Ustman Technologies Inc. upon approval by shareholders at its next annual meeting, with more than 54,000 underground storage tanks under contract, is the largest provider of critical information to owners of underground storage tanks through SIR and remote tank monitoring. SIR is a preferred method of detecting leaks in storage systems and of managing liquid inventory held in storage tanks. It is fully approved for purposes of compliance with EPA leak-detection regulations, which cover nearly every UST in the United States. Contact: Watson-General/USTMAN, Lakewood Dan Cook, 800/253-8054 or Bruce Russell, Investor Relations, 310/216-1414