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ENVIROMINT FILES TO EXTEND ITS OFFERS TO ACQUIRE FOR CASH ALL OUTSTANDING SHARES OF HOME-STAKE COMPANIES

 DALLAS, May 14 /PRNewswire/ -- EnvirOmint Holdings Inc. (OTC Bulletin Board: ENVM) announced today it has filed a supplement to its Schedule 14D-1 with the Securities and Exchange Commission extending its offers to purchase for cash all of the outstanding shares of The Home-Stake Oil & Gas Co. ("Oil&Gas") and The Home-Stake Royalty Corp. ("Royalty"), collectively known as "Home-Stake Entities." The offers are being made by Home-Stake Acquisition Corp., a Delaware corporation formed by EnvirOmint Holdings Inc. and International Insurance Industries Inc.
 The offers are being extended to 5 p.m., New York time, Monday, May 31, 1993, unless otherwise extended. Presently, all of the shares of the Home-Stake Entities that were previously tendered have been withdrawn. The purpose of this extension is to afford the boards of directors of the Home-Stake Entities with an additional opportunity to approve the offers. The offer price remains at $268.82 net per share to shareholders of Royalty and $147.85 net per share to shareholders of Oil&Gas.
 As set forth in their filings with the Securities and Exchange Commission, Home-Stake Acquisition, EnvirOmint and International Insurance are attempting to secure equity capital necessary to fund offers that will afford Home-Stake Acquisition with the control of the Home-Stake Entities in the event the board of directors of the Home-Stake Entities do not approve the offers. If successful in securing such capital, Home-Stake Acquisition intends to revise the offers. Such revised offers may be for less than all of the outstanding shares and will not be subject to approval of the boards of directors of the Home-Stake Entities.
 EnvirOmint currently owns approximately 18 percent of the outstanding shares of Royalty and approximately 23 percent of the outstanding shares of Oil&Gas. The ownership of substantially all of these shares is disputed and the subject of litigation. The boards of directors of the Home-Stake Entities have recommended to their shareholders not to tender their shares.
 In addition to its interest in the Home-Stake Entities, EnvirOment designs, builds and operates the EnvirOmint Can-Pactor, a patented reverse vending machine which crushes aluminum cans and dispenses cash along with a manufacturer's or merchant's coupon. EnvirOmint, through two subsidiaries, is also engaged in the business of constructing and operating Texaco Lube Centers in the Dallas/Fort Worth area.
 -0- 5/14/93
 /CONTACT: Fran Daniels of Financial Sciences of America, 310-278-4413, for EnvirOmint Holdings/
 (ENVM)


CO: EnvirOmint Holdings Inc.; Home-Stake Oil & Gas Co.; Home-Stake
 Royalty Corp.; Home-Stake Acquisition Corp. ST: Texas IN: ENV SU: TNM


LS-DC -- LA030 -- 8865 05/14/93 18:03 EDT
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Publication:PR Newswire
Date:May 14, 1993
Words:424
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