GULF RESOURCES <GRE> TO HAVE GAIN ON STOCK SALE
Gulf Resources and Chemical Corp said it
has sold 9,534,633 shares of <Imperial Continental Gas
Association> for 720 pence a share, or 68.6 mln stg, in a
private transaction for a pretax gain of about 19.6 mln dlrs.
    Gulf Resources said it still owns 6.7 mln shares of
Imperial Continental, or a 4.6 pct interest, and continues to
study various alternatives.
 Reuter
