Acadia Group, Inc.--Chairman Announces Board of Directors Operational Direction
AUBURN, Maine--(BUSINESS WIRE)--September 29, 2000--Acadia Group, Inc. d/b/a
Acadia Business Group, Inc., (OTCBB: ANHS) announced that the Board of
Directors held a Special Meeting on September 28, 2000 and unanimously voted
to cease its operations effective today. The decision was due to the demand
and pressures for payment by its lender, Citizens Bank of New Hampshire, of
the Corporation's obligations of a Line of Credit in the amount of $1,093,154
and a term note for $212,081. Emile Clavet, Chairman, also reports that the
Board gave further approval for the Corporation to continue to entertain and
explore every available reconciliatory avenue to preserve the value of its
assets and to prevent discontinuation of operations. The Corporation cannot
provide any assurances that alternatives will be successful under its present
financial condition.
"Safe Harbor" Statement Under the Private Securities Litigation Reform Act
of 1995: This press release includes forward-looking statements regarding
the present intentions and expectations of management of the Corporation.
Certain factors beyond the Corporation's control could cause results to
differ materially from those in these forward-looking statements. These risk
factors include evolving industry standards, rapid technological changes,
government regulations, healthcare reform, market conditions and competition
in the market for the Corporation's services, and are more fully described
in filings with the Securities and Exchange Commission.
CONTACT: Acadia Group, Inc., d/b/a Acadia Business Group
Emile L. Clavet
1-800-479-3066
