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Gold/Mining/Energy : Derlan (T.DRL) -- Ignore unavailable to you. Want to Upgrade?

To: Serge Collins who wrote (109)	12/23/1998 5:40:00 PM
From: Imran	Respond to of 319

Here seems to be some more good news. Released soon after markets closed, there must be some more to follow. With what you guys have been discussing and this article, there must be something cooking for sure. Either way, I hope we'll all be very glad. ----- (Full text of press release from Canadian Corpora te News) DECEMBER 22, 1998 Derlan Engages Investment Banking Advisor TORONTO, ONTARIO--Derlan Industries Limited announced today that it has engaged B.T. Wolfensohn and B.T. Alex Brown to explore all options to increase shareholder value. A Special Committee of independent directors has been formed to advise the Board of Directors in connection with this process. These actions are being taken because Derlan believes that the value of the underlying assets of the company exceed the current share value and it plans to examine all options to develop this value for shareholders. On November 10, 1998, the company announced an accelerated divestment program and stated that these divestments were expected to generate proceeds of more than $125 million. The announcement today of the divestiture of Roberts PolyPro Inc. and Brenton Engineering for gross proceeds of approximately $40 million represents a significant first step in the realization of this objective. Negotiations for further divestments of non-core operations are proceeding and will be announced as they are completed. Derlan Industries is an industrial corporation, manufacturing products for the aerospace and pump industries. The company has operations in Canada, the United States, Mexico and Germany. Its shares are listed on the Toronto Stock Exchange under the symbol DRL. FOR FURTHER INFORMATION PLEASE CONTACT: Derlan Industries Limited Dermot G. Coughlan Chairman and Chief Executive Officer 416-364-5852 or Derlan Industries Limited J. David Williamson President and Chief Operating Officer 416-364-5852