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Microcap & Penny Stocks : MIDL .... A Real Sleeper -- Ignore unavailable to you. Want to Upgrade?

To: James Bender who wrote (3676)	8/13/1998 1:55:00 AM
From: Frank Fontaine	Read Replies (1) \| Respond to of 7039

Unlike You Bender I don't Hype and promote stock. Just facts!! JAX International Inc. Makes Announcement Business Wire - August 11, 1998 14:20 NEW YORK--(BUSINESS WIRE)--Aug. 11, 1998--JAX International Inc. (OTC BB:JAXI) Tuesday announced that it had reached an agreement in principle to enter into a stock exchange with CAVIAR PLUS, Ltd., and is expecting that a Letter of Intent will be executed during the coming week following completion of certain due diligence inquiries currently being conducted by management. Under the proposed agreement, JAX would acquire 100% of CAVIAR, which would then operate as a wholly owned subsidiary of JAX following the planned exchange. Once formal agreements are executed JAX and CAVIAR plan to file a registration statement with the Securities and Exchange Commission. In addition, the proposed agreement will effect a change of name and make a number of other changes to its capital structure to be specified in the Letter of Intent. CAVIAR is a New York City based direct importer of fine Russian caviar and related specialty food items. Currently, CAVIAR operates strictly as a wholesaler of these specialty food products to retailers (such as gourmet centers, world class hotels and restaurants), distributors and other end-users. JAX has divested itself of all its previously owned subsidiaries. In addition James T. Howard will resign as an officer and director of the company once formal agreements are executed. Howard has sold his holdings of JAX to a group of private investors. Former JAX Board of Director C. J. Masone has been instrumental in facilitating the negotiations. The consulting group J. Thomas Howard Ltd. has been retained as financial and marketing consultants for one year. Except for the historical information contained herein, this press release contains forward looking statements that involve a number of risks and uncertainties. Actual results could differ materially from those indicated by such forward looking statements due to a number of factors including, but not limited to, the level of consumer spending, the strength of the retail market, interest rates and the availability of financing. CONTACT: JAX International Inc. Investor Relations, 918-587-1096