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Friday January 7, 2:50 am Eastern Time

Company Press Release

SOURCE: Gilbert and Winnie Chan

GWC Announces IPO of ANC Unit

Second IPO for GWC in 4 Years

NEW YORK, Jan. 7 /PRNewswire/ -- Gilbert and Winnie Chan (NYSE: GWC - news), of Kennewick, WA formally announced the long-awaited IPO (infant production occasion) of their Andrew Nehemiah unit, under the ticker symbol ANC (Nasdaq: ANC - news). ANC opened at 4:05 PM PST Thursday Jan. 6, 2000, in after-hours trading at Kennewick General. The first shares were picked up at 8 10/16 lb. and 20" by nurse-midwife Janice Wilder. This was above the expected offering range of 6-8 lb. The announcement took most market onlookers by surprise because there had been irregular labor activity as late as 1:30 PM on Jan. 6. "We were blessed with a good medical support team available, and Thursday turned out to be a slow day for IPO's," said Chief Motherhood Officer Winnie Chan. "In contrast, Friday was quite a busy day and we wouldn't have had the full immediate attention. But mostly, Andrew was just busting to come out."
ANC consists of the former calcium processing and gas production divisions of GWC, and is expected to be the fastest-growing member of the Chan family. Market analysts cite ANC's high free calcium flow and room for expansion. Investors also seemed to feel this would be a drain on revenues as well as milk from GWC, which quickly shed over 13 lbs. in heavy volume.
GWC had previously had an IPO of their Josiah Emmanuel unit (Nasdaq: JEC - news)on August 12, 1996. JEC specializes in construction, transportation, and fire fighting. JEC shares were relatively unchanged at about 37, up from it's IPO weight of 8 3/16. Investors were apparently discounting the probable competition between the two units, expecting that there is enough opportunity to grow without robbing each other's market share.

About Gilbert and Winnie Chan

Gilbert and Winnie Chan (NYSE: GWC - news), incorporated since November 27, 1993, is a world leader in no known technology, but is just enjoying life one day at a time. Formerly based in El Cerrito, CA, GWC moved its headquarters to the Tri-Cities area of Washington State in early 1999 to take advantage of the expanding business opportunites. They are thankful that the labor was a short one this time, and that both children are healthy. Winnie's mother is also helping with cooking and child care.

About Andrew Nehemiah Chan

Andrew Nehemiah Chan (Nasdaq: ANC - news)is a high-flowrate milk consumer but is still developing some endurance between naps. He is slightly larger than his brother was at birth and may also experience the same rapid first-year growth. His most remarkable feature is the redness of his skin. He also has large dimples and noticeable eyelashes. He has a strong voice sure to be heard widely. The name Andrew refers to the early apostle, who was the brother of Simon Peter. Nehemiah refers to the rebuilder of the walls of Jerusalem in the time of King Cyrus. According to a baby book, Andrew means "strong, manly, courageous" and Nehemiah means "compassion of Jehovah."

SOURCE: Gilbert and Winnie Chan


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