latest news releases from the newsroom
Ocwen Financial Corp.
Ocwen Federal Bank and U.S. Office of Thrift Supervision Enter into Supervisory Agreement on Best Practices
WEST PALM BEACH, Fla., April 20, 2004 (PRIMEZONE) -- Ocwen Federal Bank FSB yesterday took an important step in its commitment to the development of best practices in the mortgage servicing industry. Ocwen, a wholly-owned subsidiary of Ocwen Financial Corporation (NYSE:OCN), is a federally-chartered savings association under the regulation and supervision of the U.S. Office of Thrift Supervision ("OTS"). The principal business of the Bank is the servicing of non-conforming, also known as "sub-prime," residential mortgage loans provided to credit-challenged homeowners.
Randall Wulff Chosen To Hear World Trade Center Damage Claims
OAKLAND, Calif., April 20, 2004 (PRIMEZONE) -- Following a nationwide search conducted for several months, attorney/mediator Randall Wulff has been chosen to serve as chief umpire on a three person appraisal panel to determine the amount of loss resulting from the destruction of the World Trade Center complex on September 11, 2001. The selection was made by the Hon. Michael Mukasey, the Chief Judge in the Federal District Court for the Southern District of New York. Hearings are expected to begin later this year, addressing issues of reconstruction costs as well as rental value/business interruption damages.
KIWI Network Solutions, Inc.
KIWI Network Solutions, Inc., finalizes a Joint Venture Agreement with E-Market Source Asia Pte Lte. to Offer Wireless Internet and Telephony Services Under Exclusive Agreement in Southeast Asia and India
NEW YORK, April 20, 2004 (PRIMEZONE) -- KIWI Network Solutions, Inc. (OTCBB:KWNS) (www.kiwimobile.com) jointly announced today the signing of a Joint Venture Equity Agreement with privately held Singapore-based telecommunications company E-Market Source Asia Pte Lte. (EMSA) wherein EMSA shall operate as KIWI Networks Solutions (Asia). EMSA has been granted the exclusive rights for distribution and operation of KIWI's devices and wireless transmission and applications services in Singapore, Malaysia, Indonesia, Thailand, Philippines, China & India. KIWI and EMSA will apply for a telecom operator's license -- Service Based Operator (SBO) that will license ESMA and KIWI to sell Internet-based IP Telephony products and services. Under the agreement, KIWI shall receive 75% of the net revenues generated by EMSA. KIWI shall deliver five million (5,000,000) Common shares restricted under Rule 144 for 24 months in exchange for a 50% ownership in EMSA. Said ownership shall be subject to adjustment as may be required to comply with applicable foreign ownership rules in ESMA's jurisdiction.
Tharos Laboratories, Inc.
New Company Introduces Unique Antioxidant at Trade Show
FOXBORO, Mass., April 20, 2004 (PRIMEZONE) -- Tharos Laboratories Inc., (TLI) a maker of pharmaceutical-grade ingredients and retail finished products derived from colorful fruits and plants, will introduce its powerful new antioxidant powder, Procidin(tm), at the upcoming Supply Side East International Trade Show being held at the Baltimore Convention Center May 5-7, 2004 (www.supplysideshow.com).
eMax Holdings Corporation
eMax Realty Group and Millennium One Technologies Dissolve Agreement
ORLANDO, Fla., April 20, 2004 (PRIMEZONE) -- eMax Corporation (Pink Sheets:EMAX) today announced the dissolution of the Letter of Intent announced March 1, 2004 under which its eMax Realty Group subsidiary would have acquired Millennium One Technologies. In addition, the company also notes that Mr. Fred Celi will not be taking the position as President of Network Operations for eMax Net, Inc. eMax Corp and its subsidiaries extend their heartfelt appreciation and best wishes to Mr. Celi in his future endeavors.
Sun New Media Inc.
SE Global Equities to Aquire CPY California LP
DIAMOND BAR, Calif., April 20, 2004 (PRIMEZONE) -- SE Global Equities Corp. (OTCBB:SEGB) ("SE Global"), a provider of technology and financial resources for international investors, announced it has signed a letter of intent to acquire the business of CPY California LP ("CPY"), a company with multi-million dollar assets under management based in Fremont, CA. The acquisition is expected to be finalized in approximately 30 days and will be structured as a new entity that will be a subsidiary of SE Global.