Treasury International Inc. agrees to acquire The Isometric Group

Business Wire, June 19, 1996

TORONTO--(BUSINESS WIRE)--June 19, 1996--Treasury International Inc. (OTC BB:TREY) announced Wednesday it has signed a purchase agreement to acquire 100% of the common stock of The Isometric Group, a leading manufacturer and exporter of concrete fasteners for the construction industry in Canada and the United States.

The Isometric Group's manufacturing facility is based in Toronto, with 10 distribution warehouses in the United States. The Isometric Group is expected to have 1996 annual revenue of US$8 million and a pre-tax cash flow of US$1.7 million. 80% of its sales are to the United States with distribution planned for Europe, South America and other markets.

Under the acquisition agreement, Treasury International Inc. will satisfy the purchase price for The Isometric Group with a combination of cash and the issue of a convertible debenture. If fully converted, the maximum dilution would be 5%. Completion of this transaction is subject to Treasury International securing financing. Treasury International Inc. has engaged the services of Heritage Capital Corp. of New York City which has primary responsibility for securing financing.

"This acquisition is consistent with Treasury International's corporate strategy to grow by both acquisition and internal expansion in strategic segments of the distribution industry in North America," said James Hal, Treasury International's chairman and chief executive officer.

Treasury International Inc. has signed letters of intent for three other acquisitions and the related purchase agreements are in various stages of negotiation.

CONTACT: Treasury International Inc., Toronto

Nathalie Elfassy, 800/461-1393, Ext. 220

or

Continental Capital & Equity Corp., Maitland, Fla.

Michael Irving, 407/875-1110

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