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To: George C. Grasser who wrote (5105)	12/15/1998 3:12:00 PM
From: J T	Read Replies (1) \| Respond to of 6528

Monday December 14, 5:33 pm Eastern Time Company Press Release Arete Industries Inc. Responds to Article Reporting on Aggression Sports Subsidiary BOULDER, Colo.--(BUSINESS WIRE)--Dec. 14, 1998--Arete Industries Inc. (OTC:AREE - news) Monday responded to a newspaper article published in the Rocky Mountain News in its Dec. 12 edition business section titled: ''Lowe Brothers Return to Extreme-Sports Life; Boulder Company Hires Trio to Design, Consult.'' In this article, Arete President and CEO, Tom Raabe, was erroneously quoted as saying, ''Aggression Sports should have the capability to become a $200 million to $300 million business.'' Raabe states that the reference was to the approximate size of the market niche that Aggression Sports initially intends to address. To clarify the statement, Raabe cited recent information published by Outdoor Retailer in its Sourcebook 1999, the 1998 State of the Market, published annually, indicating that the entire high-end specialty marketplace, including numerous categories that Aggression Sports will not address is approximately $4.8 billion annually as of fall 1998 and the size of this market that Aggression Sports will address is approximately one-half of that figure. Intending to start with backpacks, load carrying systems and hydration systems; followed by tents, sleeping bags, pads and bivy sacks, apparel including layering systems, outerwear, and ultimately backpacking and mountaineering accessories and hardware, Raabe explained that Aggression's five year target is to achieve $50 million in sales. Raabe further stated that, ''Otherwise, the Rocky Mountain News article was well written and researched.'' biz.yahoo.com