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Carreras Gp. Ltd. (CAR) – New CEO

At the Board of Directors meeting on May 10, 2000 the Directors accepted the resignation of Mr. John Ruland as Chief Executive Officer and a director of the company and its subsidiary, effective June 1, 2000.

At the same meeting Mr. William Telling was appointed CEO and a director of the company and its subsidiaries effective June 1, 2000.