/24-7PressRelease/ - DALLAS, TX, August 24, 2008 -- Texas billionaire, Mr. Joseph Goodrich, of Dallas, Texas, CEO/Chairman of North American Enterprises, LP (NAE) announced today the creation and launching of North American Outreach, LP (NAO). NAO is intended to be the primary philanthropic vehicle to deliver what Mr. Goodrich called a vibrant "children's outreach" program. The new company will be a not for profit institution whose primary interest will be to assist the efforts of third world nations to improve the living and educational environments of their children. Mr. Goodrich intends that NAO become quickly recognized as an energetic, active and important partner with such nations that seek to improve the living conditions in their communities and the lives and opportunities that will be available for their children.
NAO is expected to be initially funded by a grant of $300,000,000.00. The funding of these efforts will be derived initially from the profitability of North American Enterprises, LP (NAE), a diversified investment company with ventures and joint ventures in the energy, technology, real estate and information sectors, as well as from Mr. Goodrich's own personal resources. Mr. Goodrich has indicated that a decision will be made later as to whether to invite the participation of individuals and/or business entities, similarly situated as are NAE and Mr. Goodrich, to participate in the projects selected as worthy efforts by NAO. Toward this end, Mr. Goodrich disclosed that he has recently met in London with various leaders of Fortune 500 companies who expressed a strong desire to participate with NAO in such projects.
Projects that NAO is currently considering include surveying, locating, and drilling of clean water wells in rural areas, as well as projects that enhance, construct, and/or repair educational facilities and that provide educational materials, such as books, to schools lacking such materials. Participation in efforts to provide compact, durable, computers to children are being reviewed and evaluated, as well. Initial nations where NA0 has express an interest in beginning its efforts are Nigeria, Ethiopia, and Chad. Other locations in the western hemisphere, including impoverished areas in the U.S., are also being considered as possible future locations for similar projects for NAO.
The projects will include projects that will be undertaken directly and exclusively as projects operated solely by NAO, as well as other projects that will be initiated, funded, and operated in conjunction with national and local governmental entities. The company also will consider making investments in other charitable projects or efforts operated by other similar business entities. NAO will be headquartered in Dallas, Texas.
Mr. Goodrich announced that, "NAO will seek to expand its philanthropic and charitable efforts into other established nations, as well as into emerging nations and communities where it can be determined that NAO can truly make a difference in the lives and futures of the children in such locations."
Commenting further, Mr. Goodrich stated, "We have entered into discussions and are nearing agreements with a variety of governmental and private placement entities. We seek to truly make a difference in the future lives of children everywhere. We believe that this will contribute directly to the opportunity for a more prosperous and peaceful world for all people. We have already established relationships and agreements with a variety of people and entities that have a growing need for funding to further their efforts toward these goals. We welcome the opportunity to expand our relationships to include additional individuals, businesses, and governments as rapidly as possible.
Safe Harbor Forward-Looking Statements
Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as the term is defined in the Private Litigation Reform Act of 1995. The Company's actual results could differ materially from expected results. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. Should events occur which materially affect any comments made within this press release; the Company will appropriately inform the public.
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- american, estate, goodrich, joseph, nao, north, oil, outreach, philanthropy, real, ventures
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