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To: BobCrane who wrote (237)	4/9/1999 9:26:00 AM
From: cabernetfranck	Respond to of 1567

Found this through the TIPS site was lucky vistor #13. Don't have a present position in TNRG, although I have been looking at it for awhile and tried to buy at the close yesterday. Frank C. SOURCE: Tianrong Building Material Holdings, Ltd. Tianrong Completes Spin-Off of E-Commerce Division SAN FRANCISCO, April 9 /PRNewswire/ -- Tianrong Building Material Holdings, Ltd. (OTC Bulletin Board: TNRG - news) announced today that it has completed the spin-off of its e-commerce internet division into a separate publicly traded subsidiary, Tianrong Internet Products and Services, Inc. (OTC Bulletin Board: TIPS - news). TNRG will continue to own approximately 70% of TIPS and will pay a stock dividend of approximately 30% of TIPS to the shareholders of TNRG. The board of directors of TNRG will set the record date for the dividend early next week and make a public announcement immediately thereafter. The Company also announced that it is on schedule for the record date to be before the end of April. James Tilton, president of TNRG, stated, ''I am pleased that we have been able to complete the spin-off of our e-commerce division. This is an extremely exciting moment for TNRG as it marks an important milestone for TNRG in that the e-commerce division is our first spin-off in the projected spin- off of a number of different divisions. As shareholders begin to grasp how these spin-offs work and the value of the dividends paid out, the value of these spin-offs should start to begin to be reflected in the price of TNRG stock itself. We believe our various divisions have many exciting projects that are not yet reflected in the price of the TNRG stock. TIPS is just the first indication of how much value is packed into TNRG.''