To: rkc who wrote (8089 ) 4/20/1999 2:11:00 PM From: Wayne Rumball Read Replies (3) | Respond to of 13776
ORTG news as promised ALEXANDRIA, VA. (April 20) BUSINESS WIRE -April 20, 1999--Orion Technologies, Inc. (Orion) has reached preliminary agreement on the terms to acquire two German firms with common ownership, EZ Elektronische Zahlungssysteme GmbH (EZ) and EPS Elektronische Processing Systeme GmbH (EPS), for shares in Orion. The companies, based near Frankfurt, are engaged in the rental of point of sale machines and the processing of credit and debit card transactions, respectively. A letter of intent was negotiated and signed on Monday with the acquisition expected to close within 30 days. Mr. A. Frans Heideman, the president of Orion, stated that this is the first of several acquisitions that Orion intends to make as it focuses its business into Europe and North America. Upon closing, it is expected that Mr. Klaus Madje, a board member and shareholder in both companies, will be appointed to the board of directors of Orion. Mr. Majde is a German certified public accountant with extensive experience as an advisor in establishing companies and investments. Statements made in this press release that are not historical or current facts are "forward looking statements" made pursuant to the safe harbor provisions of federal securities laws. Forward looking statements represent management's best judgment as to what may occur in the future, but are subject to certain risks and uncertainties that could cause actual results and events to differ materially from those presently anticipated or projected. -0- cl/ph* CONTACT: Orion Technologies Inc. A. Frans Heideman, President, 703/299-0500 Fax: 703/299-6074 Email: afh@orion.globalden.com