To: Gan who wrote (2849 ) 7/11/1998 11:28:00 PM From: O'Brien Respond to of 9824
per tnrg website: Tianrong Building Material Holdings, Ltd. owns a 90% stake in a franchise of the United States Basketball League (OTC BB: USBL). TNRG President James Tilton stated, "The acquisition of a majority stake in a USBL basketball franchise follows our philosophy of making acquisitions in areas where we perceive potential for significant increases in value. Our research indicates that USBL minor league basketball franchises at prevailing prices are significantly undervalued in comparison to minor league baseball teams which currently change hands in the $1 million to $10 million range." The USBL is the first and only publicly traded Sports League allowing fans to become owners. The USBL is economical entertainment as a family of four can attend a USBL game for practically the same price as one NBA ticket. Over the course of the last 12 seasons the USBL has sent 113 players on to the NBA. Among the 113 are Muggsy Bogues, Anthony Mason, Chris Childs, Mario Elie, Avery Johnson and Charlie Ward. This information contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, without limitation, the ability of Tianrong Building Materials Holdings to accomplish its stated plan of business. Although Tianrong Building Materials Holdings believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and, therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by Tianrong Building Materials Holdings or any other person that the objectives and plans of Tianrong Building Materials Holdings will be achieved.