Stock Purchase Agreement Expires Between Dega and Spectre
9 November 1998
Stock Purchase Agreement Expires Between Dega and SpectreSAN LUIS OBISPO, Calif., Nov. 6 -- Dega Technology, Inc. (OTC Bulletin Board: DEGA) reported Wednesday, November 4, 1998, that the Stock Purchase Agreement for Spectre Industries Inc. (OTC Bulletin Board: STND) ("STND") to purchase 51% of DTI, a subsidiary of Dega Technology, Inc., for $5 million has expired since Spectre was unable to make payments by the established deadlines. DEGA and Spectre remain interested in working together. Recent discussions between DEGA and Spectre Industries, Inc. focus on an expanded lending relationship in lieu of an equity investment by Spectre Industries, Inc. J.P. Makeyev, CEO of Dega Technology, Inc., stated that although he found this outcome disappointing, the Company remained on track with its core business and hopes to be able to work with Spectre in other ways. Mr. Makeyev went on to say, "The new Internet product line is finding wide and wild acceptance. We are building on our past successes and state-of-the-art technologies to create a large international automotive network as an e-commerce company. Our prospects have never looked better." Dega Technology, Inc. is a leader in developing on-line and CD-ROM electronic cataloguing and management system technology. For further information, Mr. Makeyev can be contacted by telephone at (805) 546-0444 or e-mail at jp@dega.com.