| An SI Board Since November 1998 |
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ECIC |
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IAC Inc Now Eagle Capital International Ltd
Symbol Changed to ECIC Effective November 11
SALT LAKE CITY--(BUSINESS WIRE)--Nov. 9, 1998-- IAC, Inc. has changed its name to Eagle Capital International, Ltd. (OTCBB: ECIC - news) and trading symbol to ECIC effective November 11, 1998. IAC Inc acquired IMSI CAP FUND, Inc.'s assets through issuance of convertible preferred stock.
Eagle Capital International, Ltd, (Eagle) is strategically positioned to support the rapid development and expansion of Integrated Masonry Systems International, Ltd. (IMSI(R)), the holder of the domestic and international patents to the proprietary IMSI(R) insulated masonry construction block system (Block System). Eagle Capital has committed to providing an equipment capital fund for the purpose of supplying the Block System technology to IMSI(R) construction projects around the world. Eagle is also developing its own joint ventures using IMSI(R) technology.
Eagle's plan is to become the principal source of all equipment capital for IMSI(R) and its' world wide Cooperative Joint Ventures. The Company projects that by the end of 1998, Eagle will acquire on behalf of IMSI(R) Joint Cooperative Ventures, at least 20 portable block production plants during 1999 and 50 during 2000.
Financial Statements (if any) in this press release and financial statements in the press release dated September 30, 1998 other than historical facts are ''forward-looking'' statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results could differ materially from expected results.
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