Centra Capital Opts Out of Powerhouse Resources, Adjusts Board of Directors and Opens Offices in New York City.NEW YORK--(BUSINESS WIRE)--May 18, 1999-- The Centra Capital Board of Directors has decided not to close on the acquisition of Powerhouse A fourth-generation language from Cognos that was introduced in the late 1970s for midrange computers. It supports both character-oriented, terminal-based applications as well as Windows clients. Applications developed under PowerHouse can be imported into Cognos' Axiant client/server environment. Resources Inc. (PRI PRI: see Institutional Revolutionary party. (Primary Rate Interface) An ISDN service that provides 23 64 Kbps B (Bearer) channels and one 64 Kbps D (Data) channel (23B+D), which is equivalent to the 24 channels of a T1 line. ) due to the failure of accepting shareholders' ability to obtain registration of their shares on any United Kingdom or 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. exchange. The Board decided the acquisition will not be feasible and therefore is not in the interest of the Company. It has therefore advised shareholders of PRI who had accepted the offer from Centra Capital that their shares will be returned to them. The Board of Directors also announced the resignation of Stephen Sherwood and Robin Radcliffe from the Board, effective immediately. The Board now is comprised of Anthony Joyce, Chairman, Alan Walman, President and John S. McCracken. As of May 17, 1999, the Company is operating out of offices in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . Any inquiries should be addressed to Centra Capital at: 142 Wooster Street, Suite 1B 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 , NY 10012 Telephone: 212-979-8803 Facsimile: 212-979-7581 E-mail: pm0164@aol.com Attention: Phil McGrane Centra Capital Corp. is a holding company in the computer software, technology and Internet sector. Its newly acquired, wholly-owned subsidiary INTO 2000, Inc. is a software company providing solutions for the special Year-2000 needs of the IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) AS/400 computing computing - computer environment. INTO 2000, Inc. has already won major industry awards and over 600 companies representing some 1,100 installed sites, have purchased its software. INTO 2000, Inc. sells through major resellers and direct sales to end users, achieving 50-75% margins respectively. The network of resellers assembled by INTO 2000, Inc. includes some of the strongest sales organizations in the US. It is these organizations that will greatly assist Centra with its planned acquisition of other software and Internet products and their entry, sale and distribution to the end user. |
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