Caplan Corporation Announces Corporate Changes; Name Change to Mid-Power Service Corporation and 2-to-1 Reverse Stock Split

Apr 12, 2001, 01:00 ET from Caplan Corporation

    LAS VEGAS, April 12 /PRNewswire/ -- Caplan Corporation announced today
 that on March 12, 2001, eight individuals purchased an aggregate of
 1,500,000 shares of restricted common stock (187,500 each) from six
 stockholders of Caplan Corporation, at a price of $0.22 per share.
 Additionally, an individual investor purchased an irrevocable proxy to vote
 500,000 shares of common stock.  As a result of the foregoing transactions,
 the eight purchasers have voting control over approximately 55% of the
 company's common stock.
     Immediately following the change in control, Caplan's majority
 stockholders elected a new board of directors consisting of Kenneth M. Emter,
 Gorman King, Sr. and Michael T. Maloney.  Caplan is also effecting a 2-to-1
 reverse split in the common stock effective April 9, 2001.  To reflect the
 proposed new business of Caplan, its corporate name has been changed to
 "Mid-Power Service Corporation."  Effective April 10, 2001, the stock of newly
 named Mid-Power Service Corporation (OTC Bulletin Board:   MPSC) began trading
 under the new trading symbol.
     Mid-Power Service Corporation proposes to trade and generate electrical
 power and proposes to engage in energy-related businesses and technologies.
 
     This release contains forward-looking statements.  Forward-looking
 statements are not guarantees of future results, schedules or similar matters.
 Forward-looking statements are subject to risks and uncertainties outside
 Caplan's control.  Actual events or results may differ materially from the
 forward-looking statements.  For a discussion of additional contingencies and
 uncertainties to which information respecting future events is subject, see
 Caplan's 2000 annual report on Form 10-K and other SEC reports.
 
 

SOURCE Caplan Corporation
    LAS VEGAS, April 12 /PRNewswire/ -- Caplan Corporation announced today
 that on March 12, 2001, eight individuals purchased an aggregate of
 1,500,000 shares of restricted common stock (187,500 each) from six
 stockholders of Caplan Corporation, at a price of $0.22 per share.
 Additionally, an individual investor purchased an irrevocable proxy to vote
 500,000 shares of common stock.  As a result of the foregoing transactions,
 the eight purchasers have voting control over approximately 55% of the
 company's common stock.
     Immediately following the change in control, Caplan's majority
 stockholders elected a new board of directors consisting of Kenneth M. Emter,
 Gorman King, Sr. and Michael T. Maloney.  Caplan is also effecting a 2-to-1
 reverse split in the common stock effective April 9, 2001.  To reflect the
 proposed new business of Caplan, its corporate name has been changed to
 "Mid-Power Service Corporation."  Effective April 10, 2001, the stock of newly
 named Mid-Power Service Corporation (OTC Bulletin Board:   MPSC) began trading
 under the new trading symbol.
     Mid-Power Service Corporation proposes to trade and generate electrical
 power and proposes to engage in energy-related businesses and technologies.
 
     This release contains forward-looking statements.  Forward-looking
 statements are not guarantees of future results, schedules or similar matters.
 Forward-looking statements are subject to risks and uncertainties outside
 Caplan's control.  Actual events or results may differ materially from the
 forward-looking statements.  For a discussion of additional contingencies and
 uncertainties to which information respecting future events is subject, see
 Caplan's 2000 annual report on Form 10-K and other SEC reports.
 
 SOURCE  Caplan Corporation