BLUE GASS BREEDERS &lt;BLGR> COMPLETES ACQUISITION

  Blue Grass Breeders Inc said it has
  completed the acquisition of Equine Enterprises Inc for four
  mln common shares.
      It said it is obligated to deliver another 2,741,660 shares
  on the attainment of a certain level of shareholders' equity
  during any fiscal quarter within 12 months of closing.
      If all the contingent shares are issued, Blue Grass said
  former owners of Equine will have a 75 pct interest in Blue
  Grass.
      Equine is a New Mexico quarter horse breeding and racing
  company.
  

