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FIRST OMNI FINANCIAL, INC. AND MORGAN ENTERPRISES, INC. LINK TO PROVIDE GOODS TO THE UKRAINE GOVERNMENT

 SPARKS, Nev., Jan. 27 /PRNewswire/ -- John C. Hetherington, chairman of the board of First Omni Financial Corporation, a Nevada corporation, announced today the corporation has formed a joint venture contract with Morgan Enterprises, Inc. of San Jose, Calif., and International Trade Services Company, a San Francisco-based company to import goods and services into the Ukraine (CSI), in exchange for goods and commodities produced or acquired there, to be sold outside the Ukraine.
 The first contract is for 100,000 cases (at 14 lbs.) of orange juice monthly, which will be produced by O-Jay, Inc. and shipped air freight to the Ukraine during the next five years.
 The second contract for import into the Ukraine, awarded to O-Jay, Inc. is for at least 100,000 cases (at 14 lbs.) of mixed goods, food products and other goods to be acquired and shipped into the Ukraine on a monthly basis for the next five years.
 The commodities made available by the Ukraine to sell outside the Commonwealth of Independent States are: non-ferrous metals, ferrous metals, strategic metals, precious metals, vodka and caviar.
 In addition to the imports and exports available, the government of the Ukraine has established a policy of factory sharing for joint venture investors and First Omni Financial Corporation, Morgan Enterprises, Inc., and Investors Trade Services Company have contracts with factories within the Ukraine to manufacture and produce food products, soft drinks, juices and liquors.
 The opportunities within the Ukraine, because of the economy and the demand for goods and services are many and of great variety and the joint venture has agreed to supply several of these needs for goods and services to the people of the Ukraine, in exchange for commodities and salable products.
 -0- 1/27/93
 /CONTACT: John C. Hetherington of First Omni Financial, 916-967-5359, or Dan Bubalo, president and CEO of O-Jay, 612-338-4128/


CO: First Omni Financial Corporation; Morgan Enterprises, Inc.;
 International Trade Services Company; O-Jay, Inc. ST: Nevada, Minnesota IN: SU:


KH -- MN008 -- 9846 01/27/93 16:06 EST
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Date:Jan 27, 1993
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