CORUNNA, Ontario, June 1, 2004 (PRIMEZONE) -- Megola, Inc. (OTCBB:MGOA), a leading solution provider in physical water treatment, microbiological control, wastewater treatment and air purification, announced today that Sufan Siauw has joined the company's Advisory Board.
Mr. Siauw is currently the Chief Technology Officer of Dalian Bingshan H2O3 Environmental Solution Co. Ltd., a Chinese ozone water treatment system manufacturer that is part of the Bingshan Group, one of China's largest diversified conglomerates, consisting of 46 different companies. Dalian Bingshan H2O3 has partnered with Megola to promote and market Megola's products in the Far East and Megola has a reciprocal agreement to market H203's products in North America. Besides serving on Megola's board, Mr. Siauw is also the Chairman of the Board of Paul Yuan Dyestuff Co. Ltd, a Chinese manufacturing company with annual revenues exceeding $30 million.
"We are very pleased to have Sufan Siauw lend his expertise in technology and the Asian markets to the growing list of talented individuals on Megola's Advisory Board. Throughout his career, Mr. Siauw has shown that he has a keen eye for locating innovative technologies and then ramping up development and implementation of their related products in rapidly growing markets. His position with Megola's partner, Dalian Bingshan H2O3, should prove to be very valuable as our companies work together to market ScaleGuard and other Megola products and solutions across China and the rest of Asia," says Joel Gardner, President and Chief Executive Officer of Megola, Inc.
Mr. Siauw is an entrepreneur that has deep interests in new technology. He is a founder of Premium Power LLC., a cutting-edge Massachusetts-based battery developer, as well as Office General Inc., a San Francisco-based corporation that owns and operates business centers around the world and is expanding to provide management software to independently owned business centers worldwide. Mr. Siauw is also a veteran of Thai Gypsum Surya Indonesia, where he served as Business Development Manager. He received a Bachelor of Science degree in Business Administration from Pepperdine University and a Master of Business Administration degree in International Business from Loyola Marymount University.
Megola, which went public last year, is in the process of greatly expanding both the scope of its offerings and its reach in the global marketplace. The company announced earlier this year that it has launched a new business model, which it believes could significantly boost its revenues. Under this new model, the company has begun partnering with clients to provide "tailor-made" solutions to the clients' air/water-quality problems and then share in the cost savings generated through theses partnerships. The company also entered into an agreement to cross-promote its products with Chinese market leader, Dalian Bingshan H2O3 in Asia. The company expects this agreement to lead to significantly increased revenues in new overseas markets.
The matters set forth in this press release are forward-looking statements within the meaning of the ``safe harbor'' provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These risks are detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission including the company's Annual Report, Quarterly Reports and other periodic filings. These forward-looking statements speak only as of the date hereof. The company disclaims any intent or obligation to update these forward-looking statements.