# Immediate Buy Alert!

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Fri, 22 Jan 1999 10:37:59 -0200

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Thursday January 21st,

Company Press Release

African Resources, Inc. - Micro Cap - Ticker (AFRI)

Company Litigating Against Nations's Third Largest Bank for
Unauthorized Trading of Corporate Securities

TORONTO--(BUSINESS WIRE)--Jan. 4, 1999--AFRICAN RESOURCES, INC. (OTC BB: AFRI) (AFRI) - a natural
resource development company - with gold and diamond concessions located in the Republic of Guinea and gold mining
operations in the State of Arizona - announced today, that it is preparing legal action against Chase Manhattan Bank - the
nation's third largest bank for sustained damages as a result of unauthorized trading of the company's securities.

On April 28, 1998, the company alleges that Chase Manhattan Bank engaged in unauthorized trading of 1,000,000 common
shares of AFRI wherein the bank's securities division sold the stock into the open market within a 30 minute period - and
depressed the trading value of the shares from $0.60/share to $0.01/share. At the time of the incident, the Company's tradable
float was less than 600,000 common shares.

The alleged unauthorized traded shares had been entrusted to the legal counsel of a credit facilitator that agreed to maintain the
shares in escrow at Chase Manhattan Bank. The Bank allegedly executed the trade without receiving authorization from the
account holder. Chase Manhattan Bank executives have failed to return the shares to the account holder, in spite of demands
and refusal by the account holder to access the proceeds placed in the account from the sale of the 1,000,000 shares.

Over 200 pages of supportive documentation, which the company and account holder believe clearly establishes the facts of this
unauthorized transaction, have been reported to the Securities Exchange Commission. The account holder has made a formal
demand for the return of the 1,000,000 shares. In the event of non-compliance by Chase Manhattan Bank, the account holder's
attorneys intend to seek immediate relief from National Association of Securities Dealers (NASD) arbitration and the Initiation
of a law suit against Chase Manhattan Bank.

Mr. Rick Brodzik, president of AFRICAN RESOURCES, INC., stated:

``The Company and its shareholders have incurred severe harm by the alleged unauthorized trading action conducted by Chase
Manhattan Bank and intends to file appropriate litigation in the courts - in support of the account holder - while seeking
monetary restitution for loss of revenues and other damages caused by this irresponsible action.''

Mr. Brodzik went on to state, ``The Company's funding programs sustained a temporary set-back as a result of the trading
price of the company's securities being plunged to an all-time low of $0.01/share. However, the Company is in the process of
fiscal recovery via the completion of requisite funding programs to implement its gold and diamond mining operations -
scheduled to go on-line in the near future.

Contact:

Newtrends International.
Stuart Gray,- Canada & U.S. 1-888-990-9252

All other 250-712-9425

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