Cox Distributing Signs Letter of Intent to Acquire 100% of Armco & Metawise (HK) Limited, a Hong Kong Based Metals Importer/Exporter and Steel Recycling Company

COKEVILLE, WY - May 28, 2008 (PRIME NEWSWIRE) - Cox Distributing, Inc. ("Cox") (OTC BB:COXD.OB - News), a distributer of organic fertilizer products, announced that the company signed a Non-Binding Letter of Intent on May 22, 2008 (the "Letter of Intent") to acquire 100 percent of Shanghai Armco & Metawise (HK) Limited ("Armco"), a privately held company based in Hong Kong, China. Armco imports, exports and distributes metal ores, and non-ferrous metal and is planning to expand its operations into the steel scrap metal recycling business.

The Letter of Intent contemplates the acquisition of 100 percent of Armco subject to reaching a definitive agreement which will contain customary representations, warranties and indemnities made by Armco and Cox. Cox and Armco intend to work diligently towards reaching a definitive agreement. Cox intends to expand Armco's import export activity worldwide as well as assist Armco in launching its planned construction of a recycling facility capable of recycling 2 million metric tons of steel scrap on an annual basis.

Commenting on the event, Stephen Cox, President of Cox Distributing, Inc., stated, "We are excited to have entered into this Letter of Intent to acquire Armco. We believe the company is poised to experience tremendous growth on a number of fronts in its operations. We are convinced that the steel recycling industry in China will experience tremendous growth in the coming years and Armco has the right plan as well as the right relationships to capitalize on this growth. Management has conducted a lengthy evaluation of its business objectives and we feel confident that this acquisition will add significant value to both companies. We intend to work expeditiously to achieve a definitive agreement."