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VALLEY AND VENTURA COUNTY | REGIONAL ROUNDUP

Calabasas Firm Grants Timber-Distribution Rights

March 17, 1998

Calabasas-based Nevada Manhattan Mining Inc. has granted rights to distribute its Brazilian timber products to Metsa Timber, a European firm the company expects will build its market share overseas.

Metsa Timber will distribute products from Nevada Manhattan's Brazilian subsidiary, Equatorial Resources. One of Metsa's sister subsidiaries, FWI Wood International, will provide management assistance to Nevada Manhattan.

"This agreement should play a significant role in our strategy to propel the company to a level of increased cash flow by facilitating continued growth and success of our timber operations," said Nevada Manhattan Chief Operating Officer Jeffrey S. Kramer.

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