Inspan Investments Reorganization.

CALGARY, Alberta--(BUSINESS WIRE)--Nov. 11, 1997--Inspan (Alberta Stock Exchange:INY) On October 30, 1997, several Directors of Inspan resigned appointing a new interim Board consisting of Bill Manely, John Brussa, Murray Scalf and M. Scott Ratushny.

The new Board of Directors will implement a corporate reorganization, the main items of the reorganization include:

1. The acquisition of Cairo Energy Inc.: Cairo is a private Alberta company with numerous producing and non-producing oil and gas assets in western Canada. Daily production is approximately 300 BOE per day. Inspan has agreed, subject to regulatory and shareholder approval to issue 7,000,000 (post consolidation) common shares of Inspan for 100 percent of the issued and outstanding shares of Cairo.

2. The shareholders of Inspan will be asked to approve a 4 (old) for 1 (new) share consolidation.

3. Acquisition of oil and gas assets: Inspan has signed an offer to purchase to acquire a package of producing and non-producing oil and gas properties with daily production of approximately 150 BOE. The purchase will be funded by a loan from Cairo Energy Inc.

Pursuant to the Alberta Stock Exchange's circular eight regarding reverse takeovers, Inspan expects that its shares will remain halted from trading until the corporate reorganization is completed. -0-

Note to Editors: The Alberta Stock Exchange has neither approved nor disapproved the information contained herein.

CONTACT: Inspan Investments Limited

M. Scott Ratushny, 403/232-6836

Fax: [phone]