Alpine acquiring Techcorp

Alpine Oil Services Corporation announced that approximately 13.17 mm common shares of Techcorp Industries have been tendered to Alpine's offer for the common shares of Techcorp, representing approximately 84 % of the outstanding Techcorp shares. All of the conditions of Alpine's offer have been satisfied. Alpine has taken up and is paying for all of the Techcorp common shares validly tendered up to the expiry time of the offer.
Alpine intends to acquire the remainder of the Techcorp shares, and has extended the offer to October 12, 1999. The basis of the Offer is one third of an Alpine Share for each Techcorp Share. After receiving independent financial advice, the Board of Directors of Techcorp has determined unanimously that the Offer is fair from a financial point of view to the Shareholders, and it recommends that Shareholders accept the Offer.

Alpine Oil Services Corporation is an innovative, value-added energy services entity competing in the Canadian upstream oil and gas market. Alpine is the second largest provider of Underbalanced Drilling surface pressure control equipment complete with rotating blowout preventers, and largest provider of Real-Time Drill Stem Testing services, in North America.
Alpine is the only company in North America that has developed and now offers a mechanical wireline-set and retrievable production telemetry tool. Internationally the Company is involved in the sale of its proprietary equipment into select markets. Alpine is a recognised leader in the research, development and application of innovative technologies related to the services it provides.
Alpine uses this technological knowledge base to design and manufacture many of the downhole tools used in its services. To date, Alpine has developed and presently uses more than 65 types of proprietary tools and equipment in its three main service lines.