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Microcap & Penny Stocks : TIPS Tianrong Internet Products & Services -- Ignore unavailable to you. Want to Upgrade?

To: T A P who wrote (20)	4/22/1999 2:39:00 PM
From: T A P	Read Replies (1) \| Respond to of 203

TNRG / TIPS NEWS!!! Tianrong Sets New Record Date for Dividend SAN FRANCISCO, April 22 /PRNewswire/ -- Tianrong Building Material Holdings, Ltd. (OTC Bulletin Board: TNRG) has concluded that confusion exists with regard to its previously announced stock dividend of one share of Tianrong Internet Products and Services, Inc. (OTC Bulletin Board: TIPS) for every four shares of TNRG common stock owned. In order to clarify and avoid any misunderstandings, the Board of Directors of TNRG has set a new record date for the TIPS dividend of May 20, 1999. Since ownership of stock purchased in the public market place is based on settlement date (trade date plus 3), purchases of TNRG common stock would have to be made no later than May 17, 1999. The Company further stated that the distribution of the TIPS stock will not occur until a REGISTRATION STATEMENT for the TIPS stock has been declared effective by the United States Securities and Exchange Commission. We anticipate that the accountants for TIPS will complete their certification of TIPS financial statements by May 31, 1999. The REGISTRATION STATEMENT for the TIPS stock dividend will be filed shortly thereafter. The Company believes that REGISTRATION STATEMENTS are declared effective historically approximately 60 days after filing. James Tilton, president of TNRG, commented "I am pleased that after months of diligent efforts by Tianrong's officers, directors and legal and financial advisers, the company has been able to work out the many intricate and often cumbersome details that frequently accompany stock dividends of this nature. It is TNRG's belief that spin-offs planned for the future, of other divisions will go much smoother now that we have the mechanics in place. In the meantime TIPS continues to grow nicely within its parent TNRG and we continue to evaluate further potential acquisitions for TIPS that should make the company even stronger and more of a force in the e-commerce world." 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. Tianrong has announced future stock dividends in three subsidiaries and on a long-term basis may elect to issue stock dividends in other subsidiaries. For further information contact investor relations at 800-641-5844 or visit www.tnrg.com. 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. 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. SOURCE Tianrong Building Material Holdings, Ltd. CO: Tianrong Building Material Holdings, Ltd. ST: California T A P has received 700K shares of TNRG and 1 mil shares of TIPS from the company for services provided for a period of 1 year. For a complete write-up on TNRG/TIPS and other Turn Around Picks and free membership go to T A P profile for url.