NEWPORT BEACH, Calif., Oct 26, 2000 — NewBridge Capital Inc. (OTCBB:NBRG)(“NewBridge”) Thursday announced it signed a letter of intent to acquire Annex Distribution (“Annex”), the distributor of Random Snowboards. The proposed acquisition, when completed, will fuel NewBridge’s plan to consolidate companies in the action sports product market, including skateboarding, surfing and snowboarding. Annex markets Random Snowboards and related apparel through specialty shops in the United States and 10 foreign countries.
Annex also sponsors a professional snowboard team as well as managing a youth membership program. Annex’s current management team and members of its pro team will join a NewBridge subsidiary following the acquisition.
NewBridge’s plan of operation includes identifying operating companies and real property for acquisition. This business plan focuses on making acquisitions of or investments in what management considers businesses that present the greatest opportunities for growth and increased shareholder value.
NewBridge will seek to expand these businesses and provide financial and management services to such businesses.
CONTACT: NewBridge Capital, Newport Beach Jonathan Small, 949/833-2094 ext. 723