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BICOASTAL CORPORATION SEEKS OVER $30 MILLION ADDITIONAL ROYALTIES FROM SEMI-TECH

 TAMPA, Fla., Jan. 11 /PRNewswire/ -- Bicoastal Corporation (OTC Pink Sheets: SIGPQ) announced that it has initiated a new lawsuit against Shinwa Company, Ltd. (f/k/a Semi-Tech (Global) Ltd., f/k/a Semi-Tech (Far East) Ltd.) ("Semi-Tech") in the United States District Court for the Middle District of Florida, Tampa Division. The new suit seeks payment of the royalty amounts which have become due and owing during the six quarters that have passed since Bicoastal's successful initial royalties lawsuit against Semi-Tech.
 Bicoastal's first royalties lawsuit against Semi-Tech sought royalties and interest for the first nine quarters of the Royalties Agreement (April 15, 1989 to April 30, 1991). That lawsuit resulted in a final judgment against Semi-Tech in the amount of US$45.2 million. As part of that final judgment, the court ruled that the methods used by the court in calculating this initial royalties award would be applied to all future awards. Under the royalties agreement, Semi-Tech's royalty obligations run in perpetuity.
 Six additional quarters have passed since the trial in the first royalties lawsuit (May 1, 1991 to Oct. 31, 1992). The new lawsuit on these six quarters seeks additional royalties and interest in excess of US$30 million.
 -0- 1/11/93
 /CONTACT: Janet Hoer of Bicoastal Corporation, 813-264-7100/
 (SIGPQ)


CO: Bicoastal Corporation; Semi-Tech Limited ST: Florida IN: SU:

SS-JB -- FL008 -- 3470 01/11/93 10:39 EST
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Publication:PR Newswire
Date:Jan 11, 1993
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