Sydney - Friday - February 10: (RWE Australian Business News) - Solco Ltd (ASX code: SOO) has confirmed it is negotiating a formal agreement with "a substantial financial institution" for the provision of "an innovative finance package to improve sales of our extended product range through our recently announced expanded national dealer network". "We expect the final agreement to be signed in the next four weeks," Solco told the stock exchange yesterday. The company was responding to a request by the ASX to explain a statement it had made to a shareholder on February 2 in which Solco said, "We have some good news coming in the following month and believe the share price will rapidly rise". Solco noted the finance package had been foreshadowed in a CorporateFile open briefing dated December 14 2005. Shares in Solco rose 1.5c to 18.5c yesterday. ENDS
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