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Train85...EPYR

Empyrean Communications Inc. Reports on Merger Progress and Possible Acquisition
Friday January 2, 9:05 am ET


HOUSTON--(BUSINESS WIRE)--Jan. 2, 2004--Empyrean Communications Inc. (OTCBB:EPYR - News) 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.

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