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epyr HOUSTON--(BUSINESS WIRE)--EPYR--
Empyrean Communications Inc. (OTCBB:EPYR) announced that
negotiations continue for its wholly owned subsidiary, Basalt Fiber
Company (BFC), to merge with the basalt rock and gravel quarry company
owned by the Golden Ratio Group, http://www.upclosepersonal.net.
Bearing in mind the best interests of shareholders, EPYR is of the
firm opinion that the Golden Ratio Group has been given very fair
terms for this merger and remains confident that an agreement for this
mutually beneficial business combination can be reached in the near
future.
Simultaneously, management has been working on the possible
acquisition of a basalt fiber related company through a stock swap.
This company, which carries $180,000 in inventory, has been assigned
the exclusive marketing rights for high-grade raw materials and
possesses the technical and management expertise to manufacture high
demand basalt fiber derivative products. Firm interests to purchase
these specialized products have been indicated by two large companies
in the composites industry.
The application for a line of credit of $1 million for use as
working capital has progressed well. Funds are expected to be
available to the company in the next 60 to 90 days.

Note: "Safe Harbor" Statement Under The Private Securities
Litigation Reform Act of 1995: The statements in the press release
that relate to the company's expectations with regard to the future
impact on the company's results from new products in development are
forward looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Since this information may
contain statements that involve risk and uncertainties and are subject
to change at any time, the company's actual results may differ
materially from expected results.



KEYWORD: TEXAS
INDUSTRY KEYWORD: MINING/METALS MANUFACTURING TELECOMMUNICATIONS MERGERS/ACQ
SOURCE: Empyrean Communications Inc.


CONTACT INFORMATION:
Empyrean Communications Inc., Houston
Robert L. Lee, 713/260-7236