Nemdaco Inc. announces appointment of R.C. Moore to president and CEO of the company

Business Wire, July 10, 1995

DENVER--(BUSINESS WIRE)--July 10, 1995--Nemdaco Inc. (OTC:NMDO) Monday announced that R.C. Moore, age 43, has been appointed president and chief executive officer of the company.

Moore will serve as a director of the company along with Jeffrey Bender and Martin Chernoff until the next annual meeting of shareholders, scheduled to be held in mid-October of this year in Denver.

Over the past 15 years Moore has owned and successfully managed companies in the construction and electronics industries in Phoenix.

Further, the company has formed a 100%-owned subsidiary, Nemdaco China Ventures Inc., to conduct all of its operations in The People's Republic of China. The officers and directors of Nemdaco China are Jeffrey Bender, president and chairman of the board, Nan Lixin, age 28, vice president and director, and R.C. Moore, director and secretary. Lixin operates Beijing Dachun Foods Ltd., based in Beijing, The People's Republic of China. She received a B.A. in mathematics from Beijing University in 1990. From 1992 to 1994 she studied advanced business administration in Japan. Nemdaco is negotiating the acquisition of 70% of Beijing Dachun Foods, for cash and stock. Beijing Dachun Foods makes ice cream and Japanese-style beer, and bottles upscale activated mineral water. Beijing Dachun Foods was founded in 1994. First-year sales were U.S.$1.5 million, producing net profits of 32%, or U.S.$480,000. Management is projecting sales increases of 500% per year for the next five years, while maintaining current profit margins. No assurance can be given that these sales will occur or that current profit margins can be maintained.

In addition, the company has entered into agreements to form joint ventures with the government of The People's Republic of China in the steel, aluminum and magnesium industries.

CONTACT: Nemdaco Inc.

Jeff Bender, 805/322-3872

Stanley Schulman, 818/884-5969