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MONTANA NATURALS INT'L., CALNETICS ANNOUNCE LETTER OF INTENT TO MERGE

 ARLEE, Mont., May 12 /PRNewswire/ -- Montana Naturals Int'l. Inc. ("Montana Naturals") (OTC Bulletin Board: MTNA), Arlee, and Calnetics Corp. ("Calnetics") (NASDAQ: CALN), Chatsworth, Calif., have entered into a letter of intent for the merger of Montana Naturals into a newly created subsidiary of Calnetics, it was announced today by Leslie V. Brooks Jr., president of Montana Naturals, and Clinton G. Gerlach, chairman of Calnetics, Montana Naturals said.
 Consummation of the acquisition is subject to the execution of a definitive agreement, approval by directors and shareholders of both companies, and appropriate administrative and regulatory agency review. Under the terms of the letter of intent, each four-and-one-half (4.5) shares of Montana Naturals common stock would be converted into one share of Calnetics common shares upon closing. At March 31, 1993, Montana Naturals had 4,315,329 shares outstanding, excluding shares issuable upon exercise of outstanding stock options. Calnetics had 2,793,799 shares outstanding at March 31, 1993.
 Montana Naturals is a manufacturer and distributor of health food supplements, specializing in bee products. Calnetics is manufacturer of molded plastic components and acrylic, polycarbonate and polystyrene plastic sheets utilized in the lighting and decorator industries. At March 31, 1993, Calnetics had total assets of approximately $8.1 million and total stockholders' equity of $5.1 million. Calnetics had sales of $12,138,000 and net income of $355,000 for the nine months ended March 31, 1993. Montana Naturals had assets of approximately $1.6 million at Dec. 31, 1992, and total stockholders' equity of approximately $200,000. Montana Naturals had sales of $4,176,000 and net income of $344,000 for the year ended Dec. 31, 1992.
 -0- 5/12/93
 /CONTACT: Leslie V. Brooks Jr. of Montana Naturals Int'l., 406-726-3214; or Clinton G. Gerlach of Calnetics, 818-886-9819/
 (MTNA CALN)


CO: Montana Naturals Int'l. Inc.; Calnetics Corp. ST: Montana, California IN: FOD SU: TNM

LM-SG -- SE008 -- 7717 05/12/93 16:04 EDT
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Publication:PR Newswire
Date:May 12, 1993
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