TS Electronics Abandons Proposed Merger With Utah Clay

SALT LAKE CITY--(BUSINESS WIRE)--Aug. 5, 2003--Utah Clay Technology, Inc. (OTCBB:UTCL) announced today that the proposed merger between TS Electronics Corporation and Utah Clay Technology, Inc. was not effected and has been abandoned. Utah Clay failed to obtain the release of certain of its debt prior to the proposed closing of the merger, as required by the terms of the merger agreement with TS Electronics.