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PREMIER ENTERPRISES, FORMERLY MICRONICS INTERNATIONAL, RETAINS OTC FINANCIAL NETWORK FOR INVESTOR RELATIONS CAMPAIGN VENTURE, CA – February 23, 1999: Premier Enterprises, Inc. (OTC BB: PRMR), formerly Micronics International, Inc., today announced that it retained OTC Financial Network of Needham, Massachusetts to direct its financial communications and investor relations campaign. Premier Enterprises was founded to establish and acquire a line of reasonably-priced, first-class restaurants and catering services designed and customized for the mid-range Hawaiian market segment. The Company is acquiring the high-volume Avalon restaurant, which has been in operation for 15 years in Maui, Hawaii with annual sales of $2.1 to $2.7 million. The ocean-front restaurant is located in the scenic whaling village of Lahaina, one of Hawaii's highest traffic areas. By introducing the only restaurant in Maui to feature French flambé cuisine, and using refined purchasing and preparation methods to offer five star service at three star prices, the Company expects to build on the current establishment's existing reputation and customer base. The new restaurant will be patterned after the world famous Carriage House flambé restaurant in Bermuda, which Premier Enterprises' founders own and manage. The restaurant, which will be named Flames of Avalon to maintain name recognition while introducing the new flambé concept, will be based on the innovative production method that management has developed and tested over the past four years at the Carriage House restaurant. The Company believes that Maui is a prime location for the expansion of its French, table-side flambé presentation developed in Bermuda. Maui not only receives a greater number of tourists each year, 2.3 million as compared to the 1 million who visit Bermuda each year, but also boasts a more affluent resident and celebrity population than most other islands. Richard Kepler, chairman of Premier Enterprises, commented, “We are currently preparing to launch an aggressive advertising and marketing campaign focused on developing a strong Internet presence and generating guaranteed revenues by pre-selling a portion of tables to tour companies, hotels, and time-share operators. We therefore feel it is pertinent to team with an established firm such as OTC Financial Network to raise investor awareness of our high-growth restaurant venture, which is positioned to capitalize upon Maui's affluent local and tourist populations.” OTC Financial Network, a division of National Financial Communications Corp., is a financial communications and investor relations firm specializing in the representation of small/micro-cap companies. Premier Enterprises, Inc. is introducing the unique French, table-side flambé cuisine and preparation to the mid-range Hawaiian restaurant market through the acquisition of an established restaurant on the popular tourist island of Maui. Forward-looking statements in this release are made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risk and uncertainties, including without limitation, increased levels of competition for the Company, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. ### For more information, contact: OTC Financial Network Premier Enterprises Geoffrey Eiten Richard Kepler, Chairman 800-372-0495 / 781-444-6100 ext. 33 301-916-1528 geiten@otcfn.com rkepler554@aol.com | ||||||||||||
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