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A.C.L.N. Ltd. Announces Record Earnings

10 July 1998

A.C.L.N. Ltd. Announces Record Earnings


    PTE'-DE-MONACO--July 10, 1998--A.C.L.N. Ltd. Friday announced to the public its results of operations for the year ended Dec. 31, 1997.
    Sales for the year ended Dec. 31, 1997, increased by $18,033,743, or 49.9 percent, to $52,902,964 for the year ended Dec. 31, 1997, from $36,124,221 for the year ended Dec. 31, 1996. In addition, net income increased by $3,401,422, or 48.1 percent, to $10,466,974 for the year ended Dec. 31, 1997, from $7,065,552 for the year ended Sept. 30, 1996.
    "The company's operating results for the year ended Dec. 31, 1997, were attributable in part to the continued general increase in demand for used automobiles in North and West Africa and the Middle East as a result of increasingly lenient trade restrictions and political stability in the countries which have ports of destination served by the company, as well as in the adjacent regions," commented Aldo Labiad, the president, chief executive officer and operating officer and a managing director of the company.
    The company arranges for the shipment of used automobiles sold in Belgium by independent auto dealers to purchasers who live in North and West Africa and the Middle East, and provides related customs- clearance services.


    This news release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on the current expectations of management and are subject to a number of risk factors and uncertainties that could cause actual results for performance of the company to differ materially from those described herein.