TEMECULA, Calif., June 23, 2004 (PRIMEZONE) -- Nicolas Investment Company (Pink Sheets:NIVM) today announced that it has retained Murdock Capital Partners Corp. (MCP) to lead an investment banking and corporate communications program focused on providing market liquidity and introducing a broad array of institutional investors and the investment banking community to the pending acquisition of Nicholas by YaSheng Group (Pink Sheets:YHGG).
"Murdock Capital, a well-respected New York City based merchant banking and corporate communications firm, has recently completed their due diligence efforts on Nicholas and YaSheng and has determined that it can reach a wide and viable audience for the companies' recently announced merger. We look forward to working alongside Murdock Capital to maximize the potential of this acquisition," commented Steven R. Peacock, President of Nicholas Investment Company.
On June 21, 2004, the companies announced that they signed a definitive agreement for YaSheng Group to acquire 100% of Nicholas Investment Company in a stock-for-stock transaction, and the companies expect the acquisition to close on or about July 15, 2004. An 8-K regarding the transaction was filed on June 18, 2004.
"The recent acquisition announcement of Nicolas Investment Company by YaSheng Group has set the stage for meaningful investor relations presentations with concomitant investment banking introductions that will heighten the visibility of this broad based and rapidly growing Chinese entity," Thomas Dean, President of MCP, stated.
"While a number of state-owned Chinese companies have recently gone public in the United States, and although there are a number of nascent or small Chinese companies that trade here, YaSheng represents one of the few opportunities for U.S. investors to participate in the expanding Chinese economy though a company with substantial revenues and over one billion dollars in net assets. We look forward to introducing the YaSheng vision to institutional investors, substantial retail brokers, and research analysts and are greatly honored to have been chosen to do so," Dean concluded.
About YaSheng Group
YaSheng Group (www.yasheng.com) controls vast producing acres in China with 11,035 employees. Through its 121 subsidiaries, the company operates in chemical engineering, agricultural production, textile products printing and dyeing, commercial trading, as well as beverage and inorganic salt manufacturing. YaSheng Group produces over 51 major products in the northwest of China, seven of which have received the national "Green Award" for the environment and health. The company is recognized nationally for meeting all industry quality and environmental standards. Their products are sold nationally and exported regularly to the U.S., Canada, Australia, Pakistan, Iran, and many major countries in Europe and Asia. Major exports include sodium sulfate, sodium sulfide, vinyl fibers, barley, hops, fine spirits, licorice root, black melon seed, livestock, and many more agricultural, biotechnology and industrial products.
About Nicholas Investment Company
Nicholas Investment Company, Inc. is a closed-end fund with a 2004 first quarter net profit of $1.2 million and net assets of over $1.8 million for the same period. The company has acquired 100% of Javelin Holdings, Inc. (www.javelinholdings.com), a small business consulting and investment banking firm, and 95% of SINO UJE (www.sinouje.com), a non-stocking distributor that sells and services western-manufactured high-tech products to markets throughout China. For more information on the Company and its Fund Portfolio or to sign up for the Company's mailing list, please visit, www.nicholasinvestments.com.
All statements included in this release, including statements regarding potential future plans and objectives of Nicholas Investment Company, Inc. are forward-looking statements. Such statements are necessarily subject to risks and uncertainties, some of which are significant in scope and nature beyond Nicholas Investment Company, Inc.'s control. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Actual results may differ materially depending on many factors. Nicholas Investment Company, Inc. cautions that historical results are not necessarily indicative of the future performance.