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Superior Petroleum Company: Mon Valley Petroleum Issues Letter Of Intent To Sell Company To Milo C. Ritton And Affiliates

Hartley King, owner of Mon Valley Petroleum, announced his intention to sell his company to Milo C. Ritton and his affiliates. Combined Mr. Ritton will control one of the largest petroleum distributors in Pennsylvania.

Mon Valley Petroleum, formerly known as King & Keeney (in business since 1929), is being sold to Milo C. Ritton.

A Letter of Intent has been executed between the parties for a sale in early April, 2006. Jointly, Ritton's companies will distribute and deal directly with petroleum products for British Petroleum, Citgo, ExxonMobil, Marathon and Sunoco. Mon Valley also currently has access to most, if not all of the major oil companies unbranded supply of product in the tri-state area.

Together, the companies will distribute in excess of 100,000,000 gallons of petroleum products a year through its network, which includes but is not limited to, the Buy 'n Fly and Glassmart Food Store chains. In addition, they currently have formed the Fueland Food Store chain which will offer gasoline to numerous loyalty customers in an independent grocery store setting. Its first two facilities will be test marketed in April, 2006 in West Kittanning and Ford City, Pennsylvania.

The combined companies will have nearly six hundred (600) employees in the metrolpolitan Pittsburgh and surrounding areas, and produce sale approaching $500 million.