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Microcap & Penny Stocks : Tokyo Joe's Cafe / Anything goes -- Ignore unavailable to you. Want to Upgrade?

To: Money Maker (MM) who wrote (30095)	8/3/1998 2:03:00 PM
From: The SPHINX	Respond to of 34592

GFSR -- Picking up where it left off Friday!

To: Money Maker (MM) who wrote (30095)	8/3/1998 3:02:00 PM
From: RCJIII	Read Replies (1) \| Respond to of 34592

CNGR- Acquisition news is out, read below Monday August 3, 1:45 pm Eastern Time Company Press Release Crown Group to Acquire Remaining Equity Interest in Precision IBC, Inc. DALLAS--(BUSINESS WIRE)--August 3, 1998--Crown Group, Inc. (Nasdaq:CNGR - news) today announced that it has entered into an agreement with the minority shareholders in Precision IBC, Inc., under the terms of which Crown will acquire an additional 20% equity interest in Precision IBC for 288,027 shares of common stock in The Crown Group. Following the completion of this transaction, Crown will own 100% of Precision IBC, Inc. Precision IBC, Inc., headquartered in Fairhope, Alabama, is involved in the rental, leasing and sale of intermediate bulk containers (''IBCs''), primarily to companies in the chemical, petroleum, food, pharmaceutical, and waste management industries. Most of the IBCs in Precision's rental/lease fleet are comprised of stainless steel tanks which have a capacity equivalent to that of ten 55-gallon steel drums. IBCs can be stored in less space than steel drums. They are also returnable and reusable, thus eliminating the cost and labor involved in the disposition of steel drums in accordance with federal and state waste disposal regulations. ''We have been very pleased with Precision's operating trends since our initial acquisition of an 80% equity interest in February 1998,'' commented Edward R. McMurphy, President and Chief Executive Officer of The Crown Group. ''By expanding Precision's fleet of rental and lease IBCs more than 25% during the past six months, to over 4,700 units at the present time, management is well ahead of its budgeted growth rate for the full year. We believe that prospects for Precision IBC's revenues, earnings and cash flow are very bright, and we consider it in the best interests of Crown shareholders that we acquire the remaining equity interest in that subsidiary. This transaction should be accretive to earnings per share during the current fiscal year, and it also provides Precision's key executives an opportunity to participate, along with our other shareholders, in the future success of The Crown Group.'' The Crown Group seeks to enhance shareholder value through the acquisition, development, and operation of small-cap companies with significant growth potential. Such companies can benefit from Crown's financial and management expertise. The achievement of Crown's investment objectives may involve initial public offerings, mergers, spinoff transactions or sales to strategic partners. The Company's common stock is traded on Nasdaq under the symbol ''CNGR''.