New England Acquisitions, Inc.'s Subsidiary, International Products, Enters into Creative, Marketing and Administrative Agreement With Ollie & Partners, Inc.Business Editors STANFORD, Conn.--(BUSINESS WIRE)--July 10, 2003 New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. Acquisitions, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :NEAQ) has announced that its 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. , International Products, Inc.(IPI (Intelligent Peripheral Interface) A high-speed hard disk interface used with minis and mainframes that transfers data in the 10 to 25 MBytes/sec range. IPI-2 and IPI-3 refer to differences in the command set that they execute. See hard disk. ), has recently entered into a four year agreement with Ollie & Partners, L.L.C. Under the Agreement, Ollie & Partners has agreed to use its "best efforts" in all administrative, marketing and creative areas to bring IPI's ethnic shave cream ad burn lotion to market. Ollie & Partners will be responsible for staffing, to the extent that IPI obtains the necessary financial resources, developing marketing strategies, product names, packaging and graphics and production of necessary or desirable consumer advertisements, in-store displays, out-door or other multi-media for local or national publication. Under the agreement, NEAQ has issued to Ollie Johnson Ollie Johnson (born May 11, 1949 in Philadelphia) is an American former professional basketball player. A 6'6" forward from Temple University, Johnson played ten seasons (1972–1982) in the National Basketball Association as a member of the Portland Trail Blazers, New 100,000 shares of our common stock and has agreed to pay Ollie & Partners $6,000 for initial out-of-pocket expenses out-of-pocket expenses n. moneys paid directly for necessary items by a contractor, trustee, executor, administrator or any person responsible to cover expenses not detailed by agreement. and, if sales of the products exceed $1,000,000 during the four year period, IPI will pay Ollie & Partners 6% of such excess sales. Ollie Johnson is the chief executive officer of Ollie & Partners. IPI cannot begin its marketing efforts unless it obtains additional capital. Mr. Johnson has stated: "We are extremely pleased to partner with IPI in the marketing and development of selected consumer products. "We look forward to working cooperatively in forming a dedicated relationship that will answer the needs of certain segments of the marketplace, and hope to gain market share rapidly with the support of full service distribution networks. "Overall, this relationship will be an asset to both organizations as we pursue other opportunities in the beauty care industry." Gary Cella, NEAQ's and IPI's President added: "Mr. Johnson has over 20 years in the business of advertising and marketing. We are extremely pleased with this agreement and feel that Ollie & Partners will help establish brand name recognition of IPI's products in the market." Ollie & Partners was formed by Ollie Johnson, a well know advertising and marketing veteran. Mr. Johnson has more than 20 years of experience in the ethnic brands industry. He has served as Colomer USA's Vice President-Ethnic Products Division and Vice-President and Creative Director for African Pride. Mr. Johnson has received numerous "Awards of Excellence" for a variety of promotions for Essence Communications Essence Communications Sdn Bhd is a regional boutique public relations agency headquartered in Petaling Jaya, Selangor, Malaysia. The agency is part of the WPP Group. With a headcount of 22, it offers corporate and individual clients PR consultancy and event management services. , Inc. and Revlon, Inc. His clients have included Pepsi Cola, MasterCard, The United Negro College Fund The United Negro College Fund (UNCF) is a Fairfax, Virginia-based American philanthropic organization that fundraises college tuition money for African-American students and general scholarship funds for 39 historically black colleges and universities. , Revlon and other well known companies. For further information about New England Acquisitions, Inc. contact Gary Cella, President, at 203-328-3058. Included in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1993, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and is subject to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. created by those sections. Although the Company believes the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations reflected in such forward-looking statements will prove correct. The Company's actual results could differ materially from those anticipated in the forward-looking statements as a result of certain internal and external factors. |
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