Beach Couch Inc. Appoints New Chairman; Announces Stock Split.Business Editors, High Tech/Legal Writers BEIJING, China and GENEVA--(BUSINESS WIRE)--March 31, 2000 In an announcement anticipated by both the financial and legal communities internationally, the Swiss venture capital firm of Harrop, Lees, Brown & Co. today announced the signing of the preliminary plan of reorganization between Beach Couch Inc. (OTCBB:BCHH) and Beijing-based elawchina.com, the company which has been described as the single most important inroad to China in the past ten years. At a meeting of the Board of Directors, Mr. Michael A.J. Harrop was appointed Chairman of the Board. Mr. Harrop's first act was to announce that approval had been granted to allow the Company a ten (10) for one (1) forward split effective April 4, 2000. All shareholders of record as of market close (16:30 EST) on April 3, 2000 will be entitled to ten shares of common stock for each share held. Initial response from both the legal and business/financial communities on the impact on foreign trade, with the availability of current legal decisions, opinions and consultation via the internet, has been extremely positive. One analyst stated that while "NASA may be providing the most comprehensive map of the earth via satellite, Beach Couch will be able to provide the mapping and charting of the unknown sea of China, which is without question the world's largest merging economy." This press release contains forward-looking statements. Editors and investors are cautioned that such forward-looking statements involve risks and uncertainties and the company's actual results may differ from these forward-looking statements. Such risks and uncertainties include but are not limited to demand for the company's products and services, the company's ability to continue to develop its market, general economic conditions and other factors that may be more fully described in reports to shareholders and periodic filings with the Securities and Exchange Commission. |
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