Cooking Oil for Resale to Biodiesel Industry

October 27, 2003 []West Hempstead, New York-based Tilden Associates has entered into a Letter of Intent, under which, its newly formed subsidiary would acquire the exclusive right to develop franchises for sale of the Oilmatic Bulk Cooking Oil System, of Newark, New Jersey. This is the first transaction of Tilden Associates under its previously announced intentions of becoming a diversified franchise development corporation. Tilden expects to sell single and area franchises throughout the United States. Tilden and Oilmatic are also exploring the reselling potential of the cooking waste oil to the BioDiesel Industry, offering alternative fuel for diesel engines. Additionally, Tilden announced that it would shortly be filing to change its name to Franchise Development Corporation and adopt a new trading symbol to reflect the name change.
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