LAS VEGAS, Jan. 29, 2004 (PRIMEZONE) -- 21st Century Technologies, Inc. (OTCBB:TFCT) has entered into a Letter of Intent to acquire DCL, Inc., a Las Vegas-based general contracting firm, Arland D. Dunn, President and CEO announced today. "We are taking advantage of our move to Las Vegas by this acquisition," said Mr. Dunn.
"The Las Vegas-Henderson area of southern Nevada is the fastest growing urban area in the United States, maybe the world. The means that the construction business here is excellent. DLC has a multi-year history of successful operations, including several federal and local government projects. By lending our financial strength to this acquisition, we will give DLC the opportunity to take on larger, significant projects. DLC's excellent management will stay in place. We expect this acquisition to show immediate positive results for 21st Century, increasing shareholder value considerably. DLC's present performance of about $3 million per year will show substantial and rapid increase in my opinion."
Mr. Dunn advised that the transaction is based on a stock for stock exchange and the actual acquisition will be accomplished shortly. 21st Century has recently acquired Paramount MultiServices, Inc., a marketing firm with nation-wide business. Other acquisitions are currently under consideration. The firm presently owns four subsidiaries; Trident Technologies, Inc., Miniature Machine Corporation, Innovative Weaponry, Inc. and Paramount. Since becoming a Business Development Company in August, 2003, 21st Century has been actively seeking merger and acquisition partners.
Safe Harbor Statement
The statements made by 21st Century Technologies Inc. (the "Company") may be forward-looking in nature and are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements are based on assumptions and involve a number of risks and uncertainties, many of which are beyond the control of the Company. Actual results could differ materially from those projected due to risks such as changes in interest rates, market competition, our ability to generate orders and various other business risks.