CHATSWORTH, Calif., Sept. 7 /PRNewswire-FirstCall/ -- Promethean Corporation (OTC Pink Sheets: PRMN), announced today that it has entered into a non-binding letter of intent to acquire 100% of Fragrance Dynamics, LLC ("Fragrance Dynamics"), a privately held candle manufacturing company based in Lake Katrine, NY. The contemplated acquisition is part of Promethean's strategy to grow and diversify its operations beyond the current CandleWealth International, Inc. operations. The letter of intent provides that Promethean will acquire Fragrance Dynamics for the acquisition price of $4,545,000 payable in Promethean common stock, valued at the average closing price per share of Promethean common stock for the last 20 trading days prior to the date of closing of the acquisition, which date has yet to be determined. The acquisition price is subject to adjustment based upon a variety of factors, including, but not limited to, adjustments based upon Fragrance Dynamics' net worth at the time of closing, its 2007 EBITDA, and any working capital or other investments Promethean has made in Fragrance Dynamics. The acquisition is subject to the negotiation and execution of a definitive agreement reflecting the provisions of the letter of intent, including representations, warranties and covenants of the parties and other terms and conditions appropriate to a transaction of this nature. The final structure of the acquisition has yet to be determined. Promethean has 60 days from the date of the letter of intent to perform its due diligence of Fragrance Dynamics; otherwise, the letter of intent is voidable at the option of Fragrance Dynamics, without penalty. The Closing of the acquisition is subject to conditions appropriate to a transaction of this nature, including but not limited to, approval of the board of directors of both companies, satisfactory completion of due diligence review, the execution of certain mutually satisfactory non-competition agreements and employment agreements, and the removal of certain personal guarantees on bank loans made to Fragrance Dynamics. About Promethean Corporation Promethean Corporation is the publicly traded holding company of CandleWealth International, Inc., presently Promethean's sole subsidiary. CandleWealth is a direct seller of natural, soy-based candle wax, candle making supplies and other related products. Its home-based independent distributors make and sell these candles as well as build teams of other candle makers who do the same. Soy wax is a cleaner alternative to petroleum-based paraffin wax, burning cooler and longer, without the residues inherent in paraffin wax smoke. CandleWealth's success will be driven by the zeal and excitement of its distributors in spreading the benefits of natural wax and CandleWealth's other innovative products. Safe Harbor Statement Some of the information presented in this letter constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent the company's judgment regarding future events, and are based on currently available information. Although the company believes it has a reasonable basis for these forward-looking statements, the company cannot guarantee their accuracy and actual results may differ materially from those the company anticipated due to a number of known and unknown uncertainties, of which the company is not aware. Factors which could cause actual results to differ from expectations include, among others, the company's historic lack of profitability, end user customer acceptance and actual demand, which may differ significantly from expectations, the need for the company to manage its growth, the need to raise funds for operations and other risks within the regulation of the industry. DATASOURCE: Promethean Corporation CONTACT: Dave Koerner of Promethean Corporation, +1-888-881-9373 Web site: http://www.candlewealth.com/

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