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Microcap & Penny Stocks : AmeriResource Technologies (ARET) -- Ignore unavailable to you. Want to Upgrade?

To: J T who wrote (3466)	10/7/1998 3:59:00 PM
From: TsioKawe	Read Replies (2) \| Respond to of 7609

Contact: Dustan Shepherd or Delmar Janovec Telephone No. 913/859-9505, 913/859-9292 Fax No. 913/859-9520 Company Press Release ARET Subsidiary, Tomahawk, Enters Into a "Memorandum of Understanding" With the Chickasaw Division of Housing LENEXA, Kansas--(BUSINESS WIRE)--Aug. 20, 1998--AmeriResource Technologies Inc. (OTCBB:ARET - news) announced Thursday that its subsidiary, Tomahawk, has entered into a ''Memorandum of Understanding'' with the Chickasaw Division of Housing of the Chickasaw Nation of Oklahoma for the development of Affordable Housing. Delmar Janovec, CEO of ARET, stated: ''This Memorandum of Understanding will develop into a Joint-Venture Partnership that will provide the foundation for ARET's future Native American Construction projects. The Joint-Venture combined with First Americans financing capabilities will set the groundwork for the continued expansion throughout Indian Country. According to HUD, currently there is a need for between 10,700 and 30,600 homes for homeownership within Native American Communities. We anticipate that through our subsidiaries we will have a significant opportunity to finance and construct a lion's share of these homes.''