December 6, 1999
FENWAY INTERNATIONAL INC. FULLY COMPLIANT WITH NASD FILING REQUIREMENTS
NEWPORT BEACH, CA. December 6, 1999 - FENWAY INTERNATIONAL INC. (FWIN-OTC BB)
Fenway International Inc. announced today that Fenway is in full compliance with the filing requirements of the NASD Rule 6530 (the Eligibility Rule) and that Fenway's Registration Statement on Form 10-SB has been declared "effective" by the Securities and Exchange Commission. Accordingly Fenway has continued trading using its original OTC-BB symbol "FWIN".
Corporate and Cement Project activity continues intensely focused on the completion of financial and engineering contracts and the applications to various Philippine Governmental Bureaus and Departments for operating licenses and permits. Funding for the Palawan Cement Project (PCP) is segregated as to loan, German Export Credit and equity investment for the total sum of US$380,000,000. Agreements being negotiated are well advanced with initial construction funding to be available in early 2000. Production start-up is planned for late 2002 for the PCP. The Negros Oriental cement project is to parallel the PCP one year later, working with the same financiers and contractors. Cement sales are planned for the Philippine and foreign markets from both Projects.
Fenway has commenced its pre-contract activities with environmental program preparation in the municipalities near the region of the cement plant and the limestone quarry.
Fenway International Inc. is the lead proponent in the development of two large commercial grade (Portland) cement production facilities in the Philippines. Upon completion, Fenway International will be one of the largest Portland Cement suppliers in the entire Southeast Asian region.
For information contact: If you would like to contact the company directly, please call Fenway International at (888) 441-1132 or fax (604) 844-2267 or visit their website at www.fenwayintl.com.
This material was prepared by the Company. Forward-looking statements in this release are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks and uncertainties and actual results could differ from those discussed. This material is information only and is not an offer or solicitation to buy or sell the securities.
ON BEHALF OF THE BOARD
The NASD and other regulatory bodies have neither approved nor disapproved the information disclosed herein.
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