NANNACO, Inc. Announces Supplier Agreement: $30M Revenues Expected First Year
Tuesday January 20, 12:30 pm ET

SAN ANTONIO, Jan. 20 /PRNewswire-FirstCall/ -- Today, NANNACO, Inc. (OTC Bulletin Board: NNCO - News) CEO Andrew DeVries, III announced an agreement with Mr. Tan Peng Koon of Corporate Exchange of the World, Inc. for the purpose of supplying the crude oil and primary derivatives in the $150M Letter of Credit announced on January 15, 2004. The terms of the agreement, if met by Mr. Koon, would produce revenues of $30M-plus for the Company.
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"Our contacts are very reliable and experienced in the oil brokerage business, and they will be able to perform the required tasks. We have no doubt that we will fulfill all requirements for this renewable SBLC project at least two times this year," Said Mr. Koon. "We anticipate our relationship with NANNACO to flourish in the coming months as our other suppliers come online with more and more products available."

"Everything is moving as expected on this project, this accord was unexpected and a pleasant surprise as we head forward to our ultimate goal of complete and utterly flawless execution of our responsibilities under this transaction. We have found a reliable supply chain in Mr. Koon's organization. We see his experience and contacts as invaluable far beyond the scope of this initial purchase," said DeVries.

NANNACO's expected earnings from should reach $30M over the next 12 months, and should grow upward to around $50M/yr. over the next 3 years as the Letter of Credit is renewed upon successive favorable transactions.

The company currently has seven project development, JV, and Consultancy agreements for developing companies. NANNACO recently announced a change in its business strategy beginning January 1, 2004.

Statements in this news release that are not historical facts, including statements about plans and expectations regarding products and opportunities, demand and acceptance of new or existing products, capital resources and future financial results are forward-looking. Forward-looking statements involve risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from those expressed. These uncertainties and risks include changing consumer preferences, lack of success of new products, loss of the Company's customers, competition and other factors discussed from time to time in the Company's filings with the Securities and Exchange Commission.