Dr. Donald E. Ranta joins Otis Board of Directors


    OOO (TSX-V)

    VANCOUVER, Sept. 16 /CNW/ - Otis Capital Corp. ("Otis Capital" or the
"Company") is pleased to announce the appointment of Dr. Donald E. Ranta as a
member of the Board of Directors.
    Dr. Ranta is an exploration and development mining executive experienced
in planning, implementing and directing successful exploration and
acquisitions throughout North and South America and internationally. He is a
former president and board member of the Society for Mining, Metallurgy, and
Exploration (SME) and former Vice President, Finance and board member of the
American Institute of Mining, Metallurgical, and Petroleum Engineers (AIME).
    He has successfully directed and led innovative exploration efforts
resulting in the discovery, evaluation and/or acquisition of several major
deposits including Montana's McDonald and Mexico's Santa Gertrudis gold ore
bodies. He has also participated in the acquisition or discovery of Baja
California's Paradones Amarillos, Idaho's Kilgore, Montana's Seven-Up Pete,
Mexico's Dolores gold-silver, Burkina Faso's Youga gold and Russia's Kuranakh
gold deposits. In addition, has been a Vice President of Exploration for Echo
Bay Mines and Manager/Vice President for North American Exploration at Phelps
Dodge Mining Company. Dr. Ranta is currently President, CEO and Director of
Rare Element Resources and a Director of Animas Resources Ltd.
    Dr. Ranta joins Otis Capital's senior geologic team comprised of Dr. John
R. Carden, Mr. Mitch Bernardi and Mr. Laurence Pancoast. This team is
significant as they represent the core of Echo Bay Mines' successful US
Exploration arm.
    Additionally, the Company has granted 790,000 common share purchase
options exercisable at a price of $0.50 per share to certain directors,
officers and consultants pursuant to the Company's Stock Option Plan.


    "Craig T. Lindsay"
    President & CEO

    This news release does not constitute an offer to sell or a solicitation
of an offer to sell any of securities in the United States. The securities
have not been and will not be registered under the United States Securities
Act of 1933, as amended (the "U.S. Securities Act") or any state securities
laws and may not be offered or sold within the United States or to U.S.
Persons unless registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is available.

For further information:

For further information: Tel: (604) 683-2507, Fax: (604) 683-2506,
E-mail: craig@otiscapital.com, www.otiscapital.com

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