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O-JAY, INC.'S CHAIRMAN ANNOUNCES MULTI-MILLION DOLLAR TRADE AGREEMENTS WITH UKRAINE

 O-JAY, INC.'S CHAIRMAN ANNOUNCES MULTI-MILLION DOLLAR
 TRADE AGREEMENTS WITH UKRAINE
 MINNEAPOLIS, Oct. 22 /PRNewswire/ -- John Hetherington, chairman and majority stockholder of O-Jay, Inc. announced multi-million dollar trade agreements with Ukrainian companies in the newly formed Commonwealth of Independent States. Hetherington disclosed plans to begin immediately importing approximately 15 million dollars of various goods on a monthly basis, comprised initially of vodka, cordials and copper. In return, O- Jay will begin shipping juice products, tires, and health related items from its various subsidiaries, as well as rice, used automobiles, and tractors.
 "The Ukraine has a population of 55 million people, and has an extraordinary need for these items, as well as many others," said Hetherington.
 Joint venture agreements have also been signed to set up juice producing facilities in the Ukraine, as well as the upgrading of manufacturing plants to overhaul and maintain various vehicles.
 In exchange for its export cargo, Hetherington said O-Jay will benefit substantially from arrangements it has made to sell Ukrainian metals, such as aluminum and processed iron, to companies in the United States. With the use of barter arrangements and agreements, the Ukraine will be assisted greatly with importation, avoiding the difficulty of purchasing goods with rubles, which has been a volatile currency relative to exchange rates during the C.I.S. initial ventures into a capitalistic system.
 In addition to the agreements already signed, Hetherington said O- Jay will benefit from several other areas of trade currently in negotiations with Ukrainian companies.
 -0- 10/22/92
 /CONTACT: Daniel Bubalo, president and CEO of O-Jay, 612-338-4128/ CO: O-Jay, Inc. ST: Minnesota IN: SU: JVN


AL -- MN027 -- 3915 10/22/92 18:16 EDT
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Publication:PR Newswire
Date:Oct 22, 1992
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