Alfa Reports Progress on Strategic Plan; Contact and JOL Executing Their Plans.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Alfa International Corp.(OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: TYBR), today announced significant progress toward the attainment of its 2 strategic business objectives: 1. Contact Sports, Inc. (Contact): Contact is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Alfa which has spent much of 2004 making sales presentations to major sports apparel retailers across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Contact designs manufactures and markets unique "collections" of athletic apparel with a fashionable edgy look and feel, incorporating new and interesting fabrics & design concepts. The Contact brand features a full multi seasonal line for the most popular sports. The collections include shorts, shirts, sweat-suits, T-shirts, jackets, caps, etc. for basketball and other sports, as well as a fashionable line of warm-ups. Contact sells its products to specialty retail stores and department stores This is a list of department stores. In the case of department store groups the location of the flagship store is given. This list does not include large specialist stores, which sometimes resemble department stores. nationwide. The product line's main demographic is men & young men's -- 14 to 29 years of age. An identical kids line (age 6 to 13) has recently been developed and is being test marketed. Kye Giscombe, Contact's President remarked: "Contact's product line - its fashionable yet edgy collections - have been overwhelmingly well received by every major retailer - both department stores and sports specialty stores Noun 1. specialty store - a store that sells only one kind of merchandise shop, store - a mercantile establishment for the retail sale of goods or services; "he bought it at a shop on Cape Cod" - on which we have called. The various Buyers and Merchandise Managers have applauded the product design. Also they were particularly impressed with our well thought out marketing plan - which we developed in concert with Clear Channel Communications Not to be confused with clear channel radio stations, which are AM radio stations with certain technical parameters. Clear Channel Communications (NYSE: CCU) is a media conglomerate company based in the United States. - covering TV, radio, print, and outdoor advertising as well as street teams - to drive traffic to their retail stores." Contact's product lines are currently selling well in the 70 Dunhams Sports stores located in eleven Mid-West states and Contact has been taking orders for Spring 2005 delivery from several national and regional chains which combined have thousands of stores. Contact expects its products to be in many of these stores in the first quarter of 2005 and in these and other stores in the Fall of 2005. Frank J. Drohan, Alfa's president commented further: "Additional follow on orders during 2005 are expected to provide further nationwide sales penetration and brand awareness for Contact. In addition Contact is presently finalizing negotiations with the country's largest sporting goods Noun 1. sporting goods - sports equipment sold as a commodity commodity, trade good, good - articles of commerce sports equipment - equipment needed to participate in a particular sport retailer (3,000+ stores) and is in negotiations with one of the nations largest department stores. While the outcomes of these 2 particular negotiations are uncertain at this time, we are very confident that orders - if not for Spring 2005 - will be placed for Fall 2005." Drohan concluded, " We are extremely pleased with Contact's reception by Retailers to date and look forward to the continued successful execution of its sales and marketing plan." 2. Journey of Light, Inc. (JOL): JOL is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. currently negotiating a substantial real estate development project - the Qutopia Project - to be located in the State of Qatar's capital city of Doha. Qutopia's development costs are expected to be between several hundred million and a billion dollars. Qutopia will be owned and operated by JOL. Alfa holds the option to acquire JOL. The Qutopia project is an ingenious integration of cultural, educational and entertainment activities including hotels, commercial and residential components and a theme park and exhibitions. It will be located on land provided by the Government of Qatar in the North Beach area of Doha - adjacent to the sea and next to the Ritz Carleton Hotel and the Doha Golf Club The Doha Golf Club in Doha, Qatar, is an 18-hole, 7,181-yard, par 72 championship course designed by Peter Harradine. It has a nine-hole floodlit academy course and a splendid clubhouse with three restaurants and a golf shop. The club hosts the Qatar Masters golf tournament. . JOL management met formally this week with the Minister of Finance and other government officials responsible for the approval process for the Qutopia project and were informed that JOL may expect formal approval of the Qutopia project within the next few weeks. Negotiations will soon be undertaken to incorporate the Government's request - which was welcomed by JOL - that the Government participate with JOL in the Qutopia project. Alfa's president, Frank Drohan - who is also JOL's president, remarked, "Both Alfa's and JOL's Boards of Directors are ecstatic over the apparent outcome of this process. Excellence in design and materials, the right concept and strong partners have helped JOL get this Landmark project to this point of imminent success. We look forward to final discussions with the Government of Qatar and an early start to the Qutopia project." In addition to the Qutopia project at Qatar, JOL has been holding serious discussions with Government officials and business people in The Sultanate of Oman and in Libya about similar projects and other business opportunities. Libya is a country rich in oil and natural gas resources with 1,000 miles of Mediterranean coastline and some of the most ancient Greek Noun 1. Ancient Greek - the Greek language prior to the Roman Empire Greek, Hellenic, Hellenic language - the Hellenic branch of the Indo-European family of languages & Roman ruins in the world. Libya is just now emerging from years of international sanctions International sanctions are actions taken by countries against others for political reasons, either unilaterally or multilaterally. There are three types of sanctions.
Mr. Drohan and other JOL shareholders have extensive experience and long standing contacts in Libya. Contact Sports, Inc. is a wholly owned subsidiary of Alfa International Corp. (OTC BB: TYBR). Alfa has an option to acquire JOL in accordance with the terms of the agreement attached as an exhibit to Alfa's annual filing on Form 10-KSB with the Securities & Exchange Commission for the year ended December 31, 2003. Frank J. Drohan is the president of Alfa and of JOL. This press release may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. The risks and uncertainties that may affect the operations, performance development and results of the Company's business include but are not limited to fluctuations in financial results, availability and customer acceptance of our products and services, final negotiations of impending im·pend intr.v. im·pend·ed, im·pend·ing, im·pends 1. To be about to occur: Her retirement is impending. 2. contracts and purchase orders, the impact of competitive products, services and pricing, general market trends and conditions, and other risks detailed in the Company's SEC reports. |
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