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To: RSkarsten who wrote (972)	1/11/1999 1:12:00 PM
From: Lance	Read Replies (1) \| Respond to of 1058

Major news and volume on TNRG with more to follow this week and next ! members.xoom.com Tianrong Announces Results from Chinese Subsidiary SAN FRANCISCO, Jan. 11 /PRNewswire/ -- Tianrong Building Material Holdings, Ltd. (OTC Bulletin Board: TNRG) today announced results for the first ten months of 1998 from its Chinese subsidiary, Chongqing Dazheng Emporium Co. Ltd. Chongqing reported gross sales of $135 million for the first ten months of 1998 and a net after-tax profit of $2.8 million. TNRG also reported audited results from Chongqing for the full year 1997. Gross sales for 1997 were $144 million and net after-tax profits were $3.4 million. Full audited 1996 and 1997 financials along with the ten month results for 1998 will be available by the end of the week at the company's website www.tnrg.com. Chongqing's major asset is a retail mall in the province of Szechuan, China. Tianrong owns an 80% stake in Chongqing. James Tilton, president of Tianrong stated, "We are extremely pleased with the results from Chongqing. As we have stated in the past, we continue to view the Chinese market as one of strong future growth. We believe our investment in Chongqing will allow us to participate in this future growth." Tianrong is a business development company that has set as its goal the acquisition of businesses in numerous industries and plans to apply Tianrong's management expertise to quickly grow value in the acquired businesses. It has announced that some of its acquisitions will be spun-off in part to Tianrong shareholders via stock dividends. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, without limitation, the ability of Tianrong Building Material Holdings to accomplish its stated plan of business. Although Tianrong Building Material Holdings believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and, therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by Tianrong Building Material Holdings or any other person that the objectives and plans of Tianrong Building Material Holdings will be achieved. For further information on Tianrong, contact James Tilton at 212-398-7833 or visit the website www.tnrg.com SOURCE Tianrong Building Material Holdings, Ltd.