GROWTH VENTURES <GVENC> DROPS UNITS
Growth Ventures Inc
said it is discontinuing its participation in a Mexican joint
venture formed to make flexible diskettes and is liquidating
its wholly-owned Rock Hohl Interiors Inc subsidiary in Colorado
Springs, Colo.
    The company said the resulting losses, lack of assets and
negative net worth will in all likelihood make it impossible
for Groweth Ventures to continue operating.
    The company said it is ending its participation in the
Mexican venture due to continuing delays in obtaining
sufficient working capital funding from government-controlled
banks in Mexico.  The funding is needed not only for joint
venture operations but also for the payment on debentures to
Growth Ventures from the joint venture, it said.
    It said since payment on the debentures has not been made,
it does not have sufficient capital to support the continuing
operations of Rick Hohl Interiors, and it will liquidate Rick
Hohl.
 Reuter
