Treasury International Inc. agrees to acquire Silver 925 Inc

Business Wire, June 20, 1996

TORONTO--(BUSINESS WIRE)--June 20, 1996--Treasury International Inc. (OTC BB:TREY) announced Thursday it has signed a purchase agreement to acquire 100% of the common stock of Silver 925 Inc., a major distributor/exporter of fashion accessories in the United States and Europe.

Silver 925 Inc. will continue to operate from its existing premises in Miami and an affiliated company in Europe.

"We feel this acquisition will provide Treasury International with a wider presence in the U.S. market and an added window of opportunity to South America," said Treasury International Chairman and Chief Executive Officer, James Hal. "This acquisition is consistent with Treasury International's corporate strategy to acquire leading distributors/exporters in strategic segments of diversified niche industries in North America and other leading global markets."

Under the terms of the acquisition agreement, Treasury International Inc. will satisfy the purchase price for Silver 925 Inc. with a combination of cash and the issuance of a promissory note payable over three years. 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.

Hal added, "Silver 925 Inc. is expected to have 1996 annual revenues of up to US $12 million, adding significantly to the company's projected group revenues of US $50 million for its fiscal year ending Jan. 31, 1997."

The company continues to aggressively pursue unique business opportunities to enhance its strategic position in the export/distribution industry.

CONTACT: Treasury International Inc.

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

or

Continental Capital & Equity Corp.

Michael Irving, 407/875-1110

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