Bilu Enterprises -H.C.- Ltd. Subsidiary to Purchase Additional Shares of Home Centers -DIY- Ltd.BNEI-BRAK, Israel--(BUSINESS WIRE)--January 19, 1999--Home Centers (DIY DIY abbr. do-it-yourself DIY or d.i.y. Brit, Austral & NZ do-it-yourself DIY abbr DIY do it yourself a DIY shop/job. ) Ltd. ("Home Centers") (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :HOMEF), announced today that MBM MBM meat and bone meal. Holdings (1992) Ltd., 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 Bilu Enterprises (H.C.) Ltd. (TASE TASE Tel Aviv Stock Exchange TASE The All Seeing Eye TASE Tactical Air Support Element TASE Thrust Assessment Support Environment TASE Telecontrol Application Service Elements (IEC communications protocol) :BILU), intends to purchase an additional 120,000 shares of Home Centers common stock. Home Centers said that MBM Holdings will purchase the shares, from time to time, in open market transactions. MBM Holdings currently owns 49.96 percent of Home Centers common shares and outstanding warrants. If the proposed purchase of 120,000 shares is completed, Bilu through its MBM subsidiary will own approximately 52 percent of Home Centers. Home Centers (DIY) Ltd. provides a comprehensive selection of core home improvement products including tools, paints, plumbing, faucets and electrical and building materials, as well as housewares, a complete line of home textiles, ready-to-assemble furniture and kitchen cabinetry, automotive accessories and outdoor goods. Together with the Company's leased departments, which offer home electronics, appliances, lighting, carpets, bathroom fixtures, and bedding and linens, customers can purchase most of their home improvement and maintenance needs under one roof. Home Centers currently operates fifteen stores, including one "Express"-format store, in Israel. This press release contains certain forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward looking statement made by or on behalf of Home Centers (DIY) Ltd. This release is available on the KCSA KCSA Krannert Center Student Association KCSA Kentucky Crushed Stone Association (Frankfort, KY) KCSA Kyiv City State Administration KCSA Kalamazoo Christian School Association KCSA Kentucky-Canadian Studies Association Worldwide Public Relations website at www.kcsa.com. |
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