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Tuesday June 22, 2:00 pm Eastern Time Company Press Release SOURCE: Fuji Electrocell Corporation Fuji Electrocell Corp. Announces Acquisition of ClassifiedOnline.Com PORT SAINT LUCIE, Fla., June 22 /PRNewswire/ -- Fuji Electrocell Corporation (OTC Bulletin Board: FJECD - news) announced today that it has entered into a share exchange agreement with ClassifiedOnline.Com, a Nevada corporation that provides a classified advertisement facility on the World Wide Web. Under the terms of the agreement, each shareholder of ClassifiedOnline.Com (''COL'') shall receive one share of Fuji common stock for each share of COL common stock. There are a total of 8,084,711 shares of COL shares outstanding and a total of 1,915,658 shares of Fuji common stock outstanding. Upon completion of the transaction, Fuji shall change its name to ClassifiedOnline.Com, and COL shall change its name and become a wholly-owned subsidiary of the new company. COL was incorporated in Nevada in 1999, and has developed an internet site providing users with the ability to list classified advertisements on their site. The web-site allows users to search and place the ads by category of item and by geographical location. The website address is classifiedonline.com. The share exchange was approved by the boards of both companies, and by shareholders holding in excess of 50% of the outstanding common stock of Fuji. The Company is preparing to make all necessary state and federal filings, and will issue new shares upon receiving all necessary approvals. Rick Oldfield, the President of Fuji and of COL, states that this acquisition gives Fuji an entrance into the expanding internet industry, and provides Fuji shareholders with an opportunity to realize a return on their investment in the Company. Please direct any questions to email: shareholders@classifiedonline.com or you may phone the company at (561) 337-4065. | ||||||||||||
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