American Resources and Development Co. Announces Appointment of New President and CEO.SALT LAKE CITY--(BUSINESS WIRE)--July 20, 1998--Salt Lake City based American Resources and Development Co. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:ADCO ADCO Abu Dhabi Company for Onshore Oil Operations ADCO Alcohol and Drug Control Officer ADCO Air Defense Control Center ADCO Alcohol & Drug Control Office ADCO Air Defense Communications Office ADCO Air Defense Coordination Organization )("ARDCO") Monday announced the appointment of Will Papenfuss as its new president and chief executive officer. Papenfuss, formerly the executive vice president of ARDCO has been instrumental in ARDCO's acquisition of Pacific Print Works a factory where cloth, as calico, is printed. See also: Print ("PPW PPW Partnership for Public Warning PPW Professional Photographers of Washington PPW Plebe Parent Weekend (United States Military Academy) PPW Parallel Plate Waveguide PPW Points Per Wavelength PPW Plasma Powder Welding "), its cutting edge screen-printing and embroidery embroidery, ornamental needlework applied to all varieties of fabrics and worked with many sorts of thread—linen, cotton, wool, silk, gold, and even hair. Decorative objects, such as shells, feathers, beads, and jewels, are often sewn to the embroidered piece. facility located in Portland, Ore. Papenfuss has also managed the prospective acquisition of Quade Inc. ("Quade"), the holder of the master license rights for the U.S. Polo Association tradename. These companies are expected to complement nicely the consumer products focus of ARDCO which until now has primarily been represented by the Fan-A-Mania chain of licensed entertainment 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" . Papenfuss' close involvement with the Fan-A-Mania stores as well as his direction of the acquisition of PPW and Quade make him uniquely qualified to direct the strong move of ARDCO into the consumer products field. Papenfuss will be replacing Karl Badger who has been ARDCO's president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. since December 1996. Badger will be continuing with the company in the capacity of vice president. This new position will afford Badger the additional time to pursue personal opportunities that are presently available to him. The company's board of directors is grateful for the contribution of Badger in his tenure as the president and CEO and has approved Papenfuss' nomination as the new president and CEO. Papenfuss, commenting on Badger's excellent leadership stated, "Mr. Badger leaves big shoes to fill, but I'm excited about the opportunity to continue the momentum the company has gained in the last year. I look forward to working closely with Mr. Badger and the rest of the management team in this transition as we continue the movement of the company towards rapid growth and profits as a consumer products company." American Resources and Development Co.'s common stock is traded on the over-the-counter bulletin board market under the symbol ADCO. For additional information on American Resources and Development Co. or any of their subsidiaries contact Will Papenfuss at 801/363-8961.
CONTACT: American Resources and Development Co., Salt Lake City
Will Papenfuss, 801/363-8961
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