Exhibit 1 September 10, 1996 NEWARK SALES CORPORATION 53 Elizabeth Avenue Nassau Bahamas Dear Subscriber: We refer to the Private Placement Agreement between you and the Company dated June 7, 1996 (the "Prior Agreement"). The Prior Agreement is hereby...Newark Sales Corp • November 13th, 1996 • Services-business services, nec
Concurrently herewith, the Company and you are entering into a Private Placement Purchase Agreement dated as of this date and effective as of June 7, 1996 (the "New Agreement"). Amounts paid by you to the Company under the Prior Agreement are deemed to have been returned to you by the Company and to have been immediately reinvested by you as the full purchase price for securities purchased by you under the New Agreement.
