Wilshire Enterprises AMEX WOC Francis Elenio Sherry Wilzig Izak
Frank Elenio Named CFO of Wilshire Enterprises, Inc.
NEWARK, N.J., Aug. 7 -- Wilshire Enterprises,
Inc. ("Wilshire" or the "Company") (Amex: WOC) announced today that Francis
("Frank") J. Elenio, CPA, has been named Chief Financial Officer of
Wilshire.
"Frank brings many years of experience and an impressive record of
accomplishment to his new senior management position at Wilshire," said
Chairman and Chief Executive Officer Sherry Wilzig Izak. "His service as a
public company CFO, together with his operating and leadership skills, his
SEC and 'Big 4' accounting experience, and his in-depth knowledge of
corporate finance, mergers and acquisitions, and financial reporting will
be invaluable as we pursue our strategy to increase value for Wilshire's
shareholders."
Since 1991, Elenio, 40 years old, served as Chief Financial Officer or
in similar senior financial management positions with several public and
private companies in New Jersey. Earlier, he was a Senior Tax Consultant at
Ernst & Young.
About Wilshire Enterprises
Wilshire is engaged primarily in the ownership and management of real
estate investments in the United States including the sunbelt states of
Arizona, Florida, and Texas.
FORWARD-LOOKING STATEMENT:
The non-historical statements (including the statements regarding the
Company's strategy to increase value for the Company's shareholder and the
contemplated contributions of Mr. Elenio) in this press release are
"forward- looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements are subject
to several risks and uncertainties that could cause actual results to
differ materially from such statements. Such risks and uncertainties
include uncertainties inherent in any analysis of business transactions,
including the impact of market, economic and competitive conditions on the
Company and others, as well as other risks and uncertainties disclosed in
the Company's 2005 Form 10-K filed with the Securities and Exchange
Commission.
Company Contact: Sherry Wilzig Izak, Chairman, 201-420-2796
Agency Contact: Neil Berkman, Berkman Associates, 310-826-5051
