Russian Imports Completes Acquisition of KIK Technology Inc.

    OCEANSIDE, Calif.--Sept. 5, 2001--Russian Imports Inc. (OTCBB:RSIM) announced today it has finalized its share exchange agreement with KIK Tire Technologies Inc. (Canada) (CDNX:KIK), after Canadian Dealer Exchange review, in compliance with SEC and NASD requirements, and with KIK Tire shareholder approval.
    The transaction effects the acquisition of all of the outstanding shares of KIK Tire Technologies Inc.'s wholly-owned subsidiary KIK Technology Inc. of Oceanside, CA by Russian Imports, which is fully reporting, has no liabilities, and is in full compliance with all federal and state laws and securities regulations.
    The transaction requires all officers and directors of the U.S. public company to resign. It provides for the appointment of the existing KIK management team to their appropriate positions in the new company, plus one additional person to represent the existing RSIM shareholders. KIK Tire Technologies Inc. will receive 16,700,000 shares for its interest in the company, representing 73.5% of all of the outstanding stock, thereby maintaining substantial control of the new company.
    Russian Imports' President, A. Rene Dervaes Jr. stated: "We are very pleased with the acquisition of KIK Technology Inc. This successful company fits all our criteria in our search for a profitable, growing company operating within an explosive, yet stable industry. KTI is revolutionizing the billion dollar, off-highway tire industry with its extensive product line of patented, flat-proof, micro-cellular polyurethane products. The target markets are enormous and KTI is well on the way to becoming the leading provider of flat-proof tires to the healthcare, industrial, lawn & garden and recreational industries."
    KIK Technology Inc. President William Knooihuizen commented, "We look forward to working with our new parent company to develop KIK Technology into the global force we envision. Together, we will implement an aggressive three year marketing plan that we expect will dramatically influence the key KIK Technology target markets."
    Manufactured at the Company's Oceanside, CA production facility, KTI products are environmentally friendly, puncture and leak-proof, and maintenance free. They ride like a traditional pneumatic tire but last much longer due to their tough micro-cellular polyurethane construction. KTI products can be designed and molded to virtually any tread specification.
    Since its inception in 1986, KTI has marketed its products across the United States directly as well as through strategic partners and distributors. The Company's immediate focus is the continued penetration of the wheelchair and power scooter tire business, particularly at the OEM and (after market) retail levels.