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Gold/Mining/Energy : Arcon Energy (MIDL Presently) The Ultimate Sleeper -- Ignore unavailable to you. Want to Upgrade?

To: Dave Bissett who wrote (3583)	6/16/1998 8:15:00 AM
From: Ga Bard	Read Replies (3) \| Respond to of 4142

(PR NEWSWIRE) DJ: Midland Inc. Announces New Board DJ: Midland Inc. Announces New Board DENVER--(BUSINESS WIRE)--June 16, 1998--Midland, Inc. (OTC BB:MIDL), today announces the recession of the Arcon Energy, Inc. reverse merger with the resignation of James R. Clark and John Spriggs. In the best interest of Midland, Inc. and the shareholders, Mark Pierce (secretary / SEC attorney for Midland, Inc.) was named President to pursue legal actions against Dan Fisher and his affiliates for fraud and embezzlement. Additional legal counsel has been retained to assist Midland, Inc. with the upcoming litigation in the United States and the Bahamas. The company would like to inform its shareholders that all stop transfers are in full force plus appropriate legal actions are being expediently pursued and the purging of the corporate shell is a vital legal step in the pursuit of recovering damages. Midland, Inc. is presently in friendly negotiations with John Spriggs for the construction of the DF-144 plant upon which John Spriggs' has already agreed to cancel his 50,000 Preferred Series "B" stock thus reducing the total dilution 7,500,000 common shares. Also the company is in continuing acquisition negotiations and possible joint ventures with other corporations with audited assets and revenues. In reference to Midland's current stock structure: 1.) Warrants can be exercised for 1 warrant (MIDLW) plus .50 for one common share (MIDL). 2.) Preferred Series "A" stock 3:2 split for the Shareholders of Record at the close of business on May 29, 1998, the company is presently awaiting the new CUSIP number. Since John Spriggs has resigned and the previous phone numbers are Arcon Energy, Inc., Investor Relations will be handled out of Atlanta by private investor Gary Swancey who has offered his services free of charge. The Board of Directors feels it is in the best interest of the shareholders to accept Mr. Swancey's gracious offer to assist the company during this transition. Mr. Swancey has been in communication with the company almost daily since he became a private investor in October of 1997. He is extremely knowledgeable through his own personal due diligence of the company's history and stock structure. As more corporate matters conclude we shall keep our shareholders informed in a timely matter in the form of news releases. Safe Harbor Act Disclaimer: This release may contain forward-looking statements that involve risks and uncertainties including, without limitation, continued acceptance of the company's products and services, increased levels of competition, new products and technological changes, the company's dependence upon financing, third-party suppliers and intellectual property rights, and other risks detailed from time to time in the company's federal filings, annual report, offering memorandum, or prospectus. CONTACT: Midland Inc. Investor Relations Gary Swancey, 770/389-5645 07:58 EDT JUNE 16, 1998 * end of story *

To: Dave Bissett who wrote (3583)	6/16/1998 8:34:00 AM
From: Ga Bard	Read Replies (1) \| Respond to of 4142

(PR NEWSWIRE) DJ: Midland Inc. Announces New Board DJ: Midland Inc. Announces New Board DENVER--(BUSINESS WIRE)--June 16, 1998--Midland, Inc. (OTC BB:MIDL), today announces the recession of the Arcon Energy, Inc. reverse merger with the resignation of James R. Clark and John Spriggs. This wa unexpected but John did not wish to be involved with the litigation according to him ... He would rather spend his time on DF-144 ... This last week he has not had much time to devote to it because of all the redundant phones calls and questions. Rescinding the merger cleans out the corporate shell. BTW John is unemployed. In the best interest of Midland, Inc. and the shareholders, Mark Pierce (secretary / SEC attorney for Midland, Inc.) was named President to pursue legal actions against Dan Fisher and his affiliates for fraud and embezzlement. Additional legal counsel has been retained to assist Midland, Inc. with the upcoming litigation in the United States and the Bahamas. An SEC attorney and other legal counsel are going after DF and his Affiliates (Arcon is an affiliate) which required an SEC attorney to be president for the time being to get this litigation on track and not allow any slip ups. Any one other than an attorney would require Mark''s leagl opinion before acting. This move is to take out the time variable and Mark can direct the other attorneys working on the legal actions PLUS you can;t very well pull the wool over an SEC attorneys eye. The company would like to inform its shareholders that all stop transfers are in full force plus appropriate legal actions are being expediently pursued and the purging of the corporate shell is a vital legal step in the pursuit of recovering damages. Basically Midland had no choice but to take out the Arcon merger so they could go forward with the litigation. Midland, Inc. is presently in friendly negotiations with John Spriggs for the construction of the DF-144 plant upon which John Spriggs' has already agreed to cancel his 50,000 Preferred Series "B" stock thus reducing the total dilution 7,500,000 common shares. Also the company is in continuing acquisition negotiations and possible joint ventures with other corporations with audited assets and revenues. Basically john is getting all his ducks in a row to negotiate a new deal with Midland on the DF-144 and John to do get this deal put together. He volunteerly resigned. Also note that Midland has had all their funds taken and stock sold ... They have no money to build the plant also they are looking at other finacing options with audit financials & assets. Arcon had none. In reference to Midland's current stock structure: 1.) Warrants can be exercised for 1 warrant (MIDLW) plus .50 for one common share (MIDL). 2.) Preferred Series "A" stock 3:2 split for the Shareholders of Record at the close of business on May 29, 1998, the company is presently awaiting the new CUSIP number. Everything concerning the stock is going to happen. Since John Spriggs has resigned and the previous phone numbers are Arcon Energy, Inc., Investor Relations will be handled out of Atlanta by private investor Gary Swancey who has offered his services free of charge. The Board of Directors feels it is in the best interest of the shareholders to accept Mr. Swancey's gracious offer to assist the company during this transition. Mr. Swancey has been in communication with the company almost daily since he became a private investor in October of 1997. He is extremely knowledgeable through his own personal due diligence of the company's history and stock structure. Well that is me... CONTACT: Midland Inc. Investor Relations Gary Swancey, 770/389-5645 07:58 EDT JUNE 16, 1998 * end of story *