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Kenwick Inc. Completes Transition to Multi-Industry Company

6 August 1998

Kenwick Inc. Completes Transition to Multi-Industry Company; Company Expects to be Fully Reporting by Sept. 30


    FORT LAUDERDALE, Fla.--Aug. 6, 1998--Kenwick, Inc. d.b.a. American Video Language Institute (OTC BB: AVLI) announced today they have completed the planned name changes necessary for the Company to take full advantage of the current opportunities available.
    The Company, formerly Kenwick, Inc., d.b.a. American Video Language Institute, has officially changed its name to Kenwick Industries, Inc. to better communicate the Company's expansion and growth as a multi-industry corporation. Concurrent with this name change, the Company's ticker symbol has been changed to KWIN (OTC BB: KWIN) to more readily identify it with the Kenwick Industries, Inc. name. The KWIN ticker symbol change will be effective tomorrow, Aug. 7.
    Kenwick Industries President Kenneth Wulwick explained the benefits of these changes, saying, "This name change represents another step toward the completion of our business plan. The Kenwick Industries name will allow us to effectively communicate the increasing scope of our business interests to our shareholders. The name and ticker symbol changes will clarify the Company's growth strategy and signifies our focus on profits and increasing share value."
    These changes are effective immediately and pave the way for the Company to finalize current pending agreements with Phillips Electronics, and the acquisition of Automax USA, Inc. and Automax Finance, Inc., expected to close by August 30th.
    This press release contains forward-looking statements with respect to the results of operations, expectations and business of the Company that involves risk and uncertainties. The Company's actual future results could materially differ from those discussed. Risks and uncertainties of the Company will be detailed from time to time in the Company's periodic reports to be filed with the Securities and Exchange Commission.