BERLIN, GERMANY - Sept. 8, 2003 (Send2Press Newswire) -- Flugal Financial Services Ltd., (Pink sheets: FUGLF), a corporation organized under the Canada Business Corporations Act, announced today the signing of a series of agreements wherein a business combination between Flugal Financial Services Ltd and Wierig International Inc. will occur. In the agreements, Wierig International Inc. will acquire controlling interest of the entity and shall appoint an entirely new board of directors who will be responsible for the new company's management. According to the agreements, the new directors are to pass a resolution to officially change the company's name to Weirig International Inc. The name change is intended to reflect the new business and more appropriately represents Wierig International Inc.'s global operating activities. The closing of the series of transactions are subject to certain conditions and approvals.

Wierig International Inc., established in Berlin, Germany, is a dynamic engineering design and construction company involved in a variety of business activities including building production and contract manufacturing, import/export, and the distribution of chemicals and building materials. With offices in Germany, Malaysia and the Philippines, Asia is Wierig International Inc.'s primary focus of operations. Wierig International Inc. possesses the technology and expertise to create high quality pre-fabricated concrete building slabs, which are designed to make final project assembly and do not require the construction of columns and beams. This special technique allows the company to drastically reduce cost and increase profit margins. The company's products are ideal for any kind of construction from offices and factories to residential units and are in high demand in many markets because of the high level of efficiency and quality.

Wierig International Inc. indicated that the transaction represents a new opportunity for growth for Wierig International Inc., with great potential for a higher level of company recognition and chance to obtain public investment funding. The quotation of the company's shares also will facilitate the likelihood for Wierig to seek out a larger and more diverse shareholder base through market investment and trade. This will allow Wierig the ability to reach its goal of high growth and greater shareholder value.

About Wierig International Inc.

Wierig International Inc. is a Berlin, Germany corporation engaged in the manufacture and distribution of numerous materials used in the company's own construction of buildings and housing units. Involved in the construction and engineering field for over twenty years, Wierig International Inc. does business with governments and corporations and has offices in Germany, Philippines and Malaysia.

Company Website: n/a
Source of News: Flugal Financial Services Ltd.

Stock Info on Yahoo!® Finance Pink Sheets: FUGLF

International Business Newswire / Engineering and Construction Newswire
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