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AmEurotech Closes $5,000,000 Distribution Agreement With Megtronica Group S.A. CHARLOTTE, N.C., Jul 25, 2000 /PRNewswire via COMTEX/ -- American Holding Corporation dba AmEurotech Corporation announced today it completed an exclusive distribution agreement with Megatronica Group S.A. as distributor of its AWP, SWP and proprietary Gambling machines in Greece and Cyprus, Italy. Megatronica Group S.A maintains showroom facilities for AmEurotech's products and provides qualified personnel for the gaming machine maintenance in this territory. The agreement guarantees a minimum quantity of purchases equal to 3,200 IOS machines (3D amusement games) @ $1,718 US each totaling to $5.5 Million US. AmEurotech has agreed to provide Megatronica Group S.A. with merchandising assistance including brochures, programs, products, sales training, and promotions. Megatronica is permitted to use the name "Oasis" and "NOA" and other trademarks or names according AmEurotech's standard and approval. Megatronica may, subject to AmEurotech's policies, utilize its name, trademarks and logos in advertising on stationary and business cards. American Holdings Corporation dba AmEurotech Corporation is a North Carolina-based software and hardware technology company with $6.5 million in tangible assets and has ongoing business in Greece, Spain, the United Kingdom, and currently expanding its business into the United States and South America. The company's net earnings for fiscal 2000 are projected at $1.5 million dollars or higher with projected earnings for 2001 to between $20 million and $25 million AmEurotech dba American Holdings Corporation is expected to soon complete its merger with Internet Multimedia Corporation (OTC Bulletin Board: IIMC). Note: Safe Harbor Statement Securities Litigation Reform Act of 1995: This release contains forward- looking statements that are subject to risk and uncertainties, including, but not limited to, the impact of competition, new and untested products, uncertainty of revenues and earnings, fluctuations in stock price and liquidity, fluctuating operating results, and other risks detailed from time to time in the company filings with the Securities and Exchange Commission. Contact: Ed Knowles Merger and Acquisitions 21st Equity Partners LLC 704-540-8138 eknowles@21ep.com Reno J. Calabrigo, MBA StarQuest Capital Corporation fax 416-441-2995 starquest@on.aibn.com SOURCE AmEurotech Corporation CONTACT: Ed Knowles, Merger and Acquisitions of 21st Equity Partners LLC, 704-540-8138, or eknowles@21ep.com , or Reno J. Calabrigo, MBA, of StarQuest Capital Corporation, fax 416-441-2995, or starquest@on.aibn.com , both for AmEurotech Corporation (IIMC) | ||||||||||||
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