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BATTERY ONE-STOP ANNOUNCES DEVELOPMENTS

 BATTERY ONE-STOP ANNOUNCES DEVELOPMENTS
 TORONTO, July 23 /PRNewswire/ -- Battery One-Stop Inc. (the


"corporation") (NASDAQ: BATTF, Alberta Stock Exchange: BTB), a specialty retailer of batteries and battery-related products, has recently completed four significant accomplishments:
 1. One-Stop Battery, Inc., a private U.S. corporation in Youngstown, Ohio, on July 1 acquired 43 operating locations and an inventory comprising both merchandise and about 80 stored kiosks from the corporation's U.S. subsidiary under a Chapter 11 court-approved transaction valued at $4.2-million (US $3.7 million). This transaction also released the corporation from any potential liability that may have resulted from co-obligations to secured U.S. creditors.
 2. The corporation has entered into a letter of intent granting One- Stop Battery, Inc. a master licensing agreement in the United States for use of the Battery One-Stop concept, trade names and trade marks. In consideration, the Corporation will receive a $1.2-million (US$1 million) one-time license fee and a royalty of five percent of future sales from all U.S. locations.
 Chairman Mickey Monus said that the master license agreement means the corporation's shareholders will benefit from the financial rewards to be derived from the large, growing U.S. market -- without taking any bottom-line risk. The two companies will also work together to improve product development, merchandise sourcing, employee training, special promotions and enhancing the unique BATTERY ONE-STOP concept.
 3. The corporation has raised $750,000.00 (US $625,000) new capital from the exempt offering, announced July 9, for its Canadian operations.
 Company founder William Dittmer, currently president of Battery One- Stop International Ltd., rejoined in April to run the Canadian operations out of Victoria, B.C. Dittmer said: "The corporation's financial risk from its former U.S. operations has been eliminated. This accomplishment -- plus the royalty and recapitalization -- dramatically strengthens the corporation's financial health. Now we can concentrate on improving and expanding the Canadian business and begin to pursue other international licensing and retailing opportunities. Since we started this process in April, sales have increased by about 70 per cent and gross profits are exceeding historic levels."
 Prudent but vigorous expansion of the Canadian operations will concentrate initially on the large Ontario and British Columbia markets. Accordingly, the corporation has entered into negotiations concerning five prime new lease locations, three in Toronto and two in Vancouver and it intends to double the number of locations within 15 months.
 Battery One-Stop Inc. is an Alberta public corporation with both Canadian and U.S. shareholders. Common shares are listed and trade on the Alberta Stock Exchange under the symbol BTB.
 Alberta Stock Exchange has neither approved nor disapproved the contents of this news release.
 -0- 7/23/92
 /CONTACT: R. Bruce Freeman, vice-chairman of Battery One-Stop, 416-540-4494; fax, 416-963-8392/
 (BATTF, BTB.) CO: Battery One-Stop Inc.; One-Stop Battery Inc. ST: Ontario, Ohio IN: SU: TNM


TQ -- NY020 -- 2323 07/23/92 09:34 EDT
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Publication:PR Newswire
Date:Jul 23, 1992
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